DEPARTMENT: FINANCIAL SERVICES
PROGRAM: FINANACE & ACCOUNTING
MISSION The Financial Services Department is responsible for providing Controller, Treasury, Budget and Purchasing services to city departments, management and Council so that programs can be effectively administered, financial reporting needs met, and internal controls for payments and receipts established to minimize business risks. In addition, the department is accountable for establishing, monitoring and updating the City's fiscal and purchasing policies to ensure they are both responsive in the current environment and in compliance with applicable state and local regulations. The activities of this program is tasked with planning, collecting, recording, summarizing and reporting the results of all financial transactions of the City in a timely manner and in accordance with generally accepted accounting principles (GAAP), ensuring compliance with applicable state and federal statutes, bond covenants, grant contracts, and management policies. The mission of Financial Services is to maintain the financial integrity of the City and provide comprehensive and integrated financial management, administration, and support services to City departments and other customers so that they can accomplish their missions. GOALS AND OBJECTIVES • Calculate a tax rate needed to balance the budget based on a conservative approach with no alternative funding sources. • Monitor economic conditions, including interest rates, to identify areas of financial risk that may impact the budget. • Maintain a return on investment rate equal to or greater than the three-month U.S. Treasury Bill rate and maintain a weighted average maturity in compliance with the City’s Investment Policy. • Receive the Distinguished Budget Award and Certificate of Achievement for Excellence in Financial Reporting from the GFOA. • Adhere to policies established by the Public Funds Investment Act, the City's adopted investment policy, and applicable bond covenants. • Receive the Distinguished Comprehensive Annual Financial Reporting (CAFR) Award from the GFOA. • Increase training of team members on existing and new software, governmental accounting, invoice payments, revenue management, and budgeting. • Optimize return on investments while attaining remaining investment objectives in accordance with established policies. • Conduct timely reviews of financial data to proactively search for unusual transactions or breakdowns of internal controls. • Respond to all vendor and customer requests within one week.
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