FINANCE

The Finance Division is responsible for the following four program activities:

Program planning and reporting. Coordinating preparation of the two-year financial plan and annual budgets; preparing the comprehensive annual financial report (CAFR); coordinating annual and special audits; preparing annual State Controller's Reports; issuing interim financial reports on the City's fiscal and budgetary status; preparing the cost allocation plan; calculating the annual appropriation limit; maintaining on-line access of financial information to department fiscal officers and other City system users.

Payroll. Processing the City's employee payroll; filing monthly and annual reports with taxing authorities and regulatory agencies; processing payments for insurance benefits and withheld taxes; providing payroll statistics to various departments and agencies.

Accounts Payable. Processing the City's accounts payable and issuing checks to vendors; filing annual reports required by regulatory agencies; reviewing internal controls and adhering to established payable procedures; maintaining vendor and encumbrance files.

General accounting services and policies. Maintaining the general ledger system and chart of accounts; preparing daily cash deposits and reports; reconciling monthly bank statements; establishing accounting and purchasing policies systems and practices; coordinating cooperative purchasing opportunities; reviewing contract documents for compliance with City purchasing policies; maintaining historical records of the City's financial performance.

The overall goals of the Finance Division are to:

• Analyze the City's financial position and develop short and long- range plans to ensure financial viability.

• Provide high quality financial reporting and budget presentations.

• Advise City management on business factors affecting the City's fiscal environment.

• Ensure the security and proper disbursement of funds through effective appropriation management.

• Administer the business license and occupancy tax ordinances including annual renewals, new licenses, complaints, and coordination with State agencies.

• Provide staff training to ensure the division's technical capabilities remain current.

• Develop and update effective administrative policies to maintain internal controls.

• Ensure that City departments obtain the materials and services needed, within budget, and in compliance with procurement policies.

• Maximize investment earnings while safeguarding public funds as established by the City Investment Policy and State law.