Finance
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:
- Budget
- Comprehensive Annual Financial Report
- Annual State Controller’s Reports
- Single Audit Report
- Master Schedule of Fees and Charges
- Cost Allocation Plan
- Investment Policy
- Citywide Lighting and Landscaping Assessment
Finance works with City Treasurer in monitoring the City’s cash management tasks and investing funds in accordance with the City’s investment policy. Finance serves as technology liaison between the City and its serving bank to implement various processing, positive pays, ACH debit, lockbox, and e-Commerce.
IT Responsibilities
The IT Management is under the direct supervision of the Director of Management Services, which the services are provided by contractual arrangements. The City is in the midst of a new Enterprise Resources Program (ERP) implementation, which will improve productivity and workflows for the City.
Budget
The City’s Annual Budget and the Comprehensive Annual Financial Report prepared by a team of finance professionals, have received numerous awards for excellence from both CSMFO and GFOA for the past 29 years.
Community Housing Assistance
Responsibilities within this activity include general administration of the City’s Community Development Block Grant (CDBG) program and Home/Housing programs. HUD grant funds received annually from the U.S. Department of Housing and Urban Development (HUD), are the primary source of funding for the Division’s activities.
Investment
The City Council appoints and delegates the authority to the Financial Services Manager as the Assistant Treasurer of the Monterey Park Public Financing Authority to place Investments with Local Agency Investment Fund (LAIF) and approving daily investment transactions, developing, implementing and monitoring controls over investments.
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Accounting
Phone: : 626-307-1405
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Accounts Payable
Phone: : 626-307-1352
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Payroll
Phone: : 626-307-1347
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Finance Division
Physical Address
320 W Newmark Avenue
Monterey Park, CA 91754
Phone: : 626-307-1348Fax: : 626-307-2516
Hours
Monday through Thursday
7:30 a.m. to 6:00 p.m.