The Finance Department is responsible for maintaining a governmental accounting and budgeting system that presents accurately, and with full disclosure, the financial operations of the funds and account groups of the City in conformity with generally accepted accounting principles. View the City's budget and financial statements under Open Government. Financial services consist of:
The City operates on a fiscal year basis from July 1 through June 30 of the following year. Accordingly, the City adopts an annual budget prior to the start of the new fiscal year. In late Spring, the City holds a public budget workshop to review the preliminary budget, answer questions, and receive input from the community. Following the budget workshop, the final budget is presented to the City Council for adoption.
Timely and accurate payments of the City's financial obligations which includes vendor payments and payroll.
Accurate and meaningful reporting on the City's financial condition which includes the Comprehensive Annual Financial Report (CAFR).
Facilitates purchases and provides quality products and services in a cost-effective manner, and ensures insurance coverage for the City's assets.
Cost-effective financing, investments and cash collection of the City's resources to maintain and enhance the City's financial condition.
City Council reviews and adopts the City's investment policy on an annual basis. The review includes considering the safety, liquidity, and return of the portfolio, as well as any changes to State law. The policy is in place to ensure the City's financial strength, implement long range financial plans, and respond to the needs of the community.