Financial operations include budgeting, financial planning, cash management, debt administration, accounts payable, accounts receivable, payroll, grants accounting, auditing, and financial reporting. Finance prepares various financial reports to city council, city management and outside agencies, including:
Comprehensive annual financial report
Annual state controller's reports
Master schedule of fees and charges
Cost allocation plan
Citywide lighting and landscaping assessment
Finance also works with city treasurer in monitoring the city's cash management tasks and investing idle funds in accordance with the city's investment policy.
Finance is also responsible and oversees the IT management functions. The IT management is under the supervision of city controller for IT services provided by contractual arrangements. Finance serves as technology liaison between the city and its serving bank to implement various processing, positive pays, ACH debit, e-Payables, and e-Commerce.
The city's annual budget and the comprehensive annual financial report prepared by a team of finance professionals, have received numerous awards from both CSMFO and GFOA for the past 25 years.