Page 26 - PantegoFY24AdoptedBudget

TOWN OF PANTEGO
ANNUAL OPERATING BUDGET & PLAN OF SERVICES
FUND: General Fund- 100
DEPARTMENT: General and Administrative - 101
DIVISION: Finance Department

Description:
The Finance Department is the administrative arm of the Town's financial operation. The department is responsible for maintaining a
governmental accounting system that presents accurately, and with full disclosure, the financial operations of the funds of the Town
in conformity with General Accepted Accounting Principles. Combined with budgetary data and controls, information so presented
shall provide a means by which the general citizenry may ascertain whether public funds are expended efficiently, as well as
prioritized and allocated in a manner which is responsive to prevailing community needs and values.
The Finance Department, in its accounting function, is also responsible for processing payroll, cash disbursements (payments),
keeping track of all purchase orders, accounts receivable, fixed assets, and other financial controls, including general ledger
reconciliations.
The Finance Department is also responsible for some part of the risk management function of the Town, including the benefits
program (health, dental, life), worker's compensation claims, and liability insurance coverage.

Mission Statement:
Provide the best possible public service to the residents and 6. Continued the implementation of the Enterprise Vehicle
businesses of the Town of Pantego. Implement Town Council policy Lease program to save costs on maintenance and improve
through professional management and oversight of all Town the Town's image by having newer and safer vehicles.
operations, coordinating the work of department heads and other
employees to ensure equitable, effective and efficient service delivery. Objectives for Fiscal Year 2023-2024:
Major Goals: 1. Continue to find and utilize Grant opportunities to help
support the Town's Financial Position
1. To develop and recommend program, policy and procedure
alternatives to the Town Council for consideration. 2. Start the Budget process much earlier in the year in order
to work with all departments to develop a Comprehensive
2. To formulate, present, and administer the Town budget in a manner Five Year plan and not just budget one year at a time in
to ensure responsive and cost effective Town services. order to project long-term needs.
3. To safeguard the Town's assets by principle of maximizing available 3. Transition the Budget Process from the archaic Excel
revenue, controlling costs, and managing the Town's investment Spreadsheet to a robust and comprehensive budgeting
principal. software application.
4. To direct and oversee the Town's financial accountability to ensure 4. Continue to assess and review internal processes and
the responsible and allowable use of Town's funds. make recommendations for improvement. Strengthening
Internal Controls and segregation of duties in a small
5.To improve service delivery through education and training of department.
Finance personnel as well as personnel of customer departments.
5. Re-write and update the town's Finance and Investment
6. To develop and provide financial and budgetary data to Policies to ensure they are compliant with recent legislative
management or other authorized personnel in the form, frequency and changes.
timeliness needed for management decisions.
6. Obtain CGFM certification
Fiscal Year 2022-2023
Accomplishments: 7. Explore options for replacing Tyler Technologies with
a more modern and economical product.
1. Completed the Annual Audit and was awarded the Certificate of
Achievement for Excellence in Financial Reporting by the Government Major Budget Changes:
Finance Officers Association for the fourth year in a row.

2. Adopted the FY 22-23 Budget.
3.Maintained CGFO Certification
4. Actively managed excess cash balances to maximize returns.

5. Successfully obtained various Grants to support the Town's
Finances.

ADOPTED BUDGET FY2023-24 TOWNOFPANTEGO.COM/BUDGET PAGE 24