FINANCE DEPARTMENT SUMMARY

Transcription

1 FINANCE DEPARTMENT SUMMARY DEPARTMENTAL FUNCTION The Finance Department is responsible for the control of all financial activities of the City, including the disbursement of financial resources and ensuring that adequate resources are available. The department currently operates two programs, Administration/Treasury and Accounting, each with its own set of performance objectives as detailed on subsequent pages. The general accomplishments and goals of the department are listed below. ACCOMPLISHMENTS FY Completed the first year of the Lan-Cap Rental Housing Business License operation. In addition to licensing more than 10,600 units, Finance established an effective relationship with both the Sheriff s Department and Code Enforcement to combat crime within the rental housing community. 2. Streamlined the purchasing process by implementing use of the Departmental Purchase Orders (DPO s), giving departments direct control of purchases under $2,000. In addition to reducing paperwork in Finance, the DPO process eliminated at least 2 days from the purchasing process for departments. 3. Implemented weekly departmental training sessions. Each training session consists of a single topic and is conducted by one or more Finance employees. The training sessions have resulted in more efficient handling of citizen and interdepartmental transactions; in addition, the training sessions have improved departmental communications. 4. The Purchasing staff brought a new award to the City of Lancaster this year. The Achievement of Excellence in Procurement Award (AEP Award) was received as a result of the Purchasing staff s innovation, professionalism, productivity, e-procurement, leadership attributes, fiscal responsibility and strategic planning. The City of Lancaster is one of only 114 governmental agencies nationwide to receive this award. 5. Improved customer service options by implementing on-line business license applications and by setting up a self service parking citation processing area. 6. Received Certificate of Award for Outstanding Financial Reporting from the national Government Finance Officers Association (GFOA) of the United States and Canada for the nineteenth consecutive year. 7. Received Certificate of Award for Distinguished Budget from the California Society of Municipal Finance Officers and the GFOA. City of Lancaster 109

2 DEPARTMENT: FINANCE BUDGET GOALS FY During the FY fiscal year, Finance will develop concise quarterly financial reports with key revenue and expenditure information. By focusing primarily on significant areas, critical management information will be provided in a timely manner. With the addition of a Business License Enforcement Officer, Lancaster will begin field enforcement of Business Licensing; in addition to general enforcement, the problem of unlicensed street vendors will be addressed. The new Grants Management Analyst will target fiscal management of the Federal and State reimbursable grants to ensure timely reimbursement of grants, improving both cash flow and interest earnings for the city. FISCAL SUMMARY PERSONNEL Actual Estimate Budget Number of Personnel Administration/Treasury Accounting TOTALS EXPENDITURES Salary & Benefits $692,378 $888,472 $1,173,625 Operational 86, , ,005 Capital Outlay ,000 Capital Replacement Fund 1, TOTALS $779,894 $996,402 $1,395,791 City of Lancaster 110

3 DEPARTMENT: FINANCE 4310 PROGRAM: Administration/Treasury PROGRAM DESCRIPTION The Finance Administration/Treasury Division gives administrative support and direction to the Accounting program, and includes coordination of departmental activities with other City departments and the City Manager. In addition, this program includes coordination of the planning process for the annual budget, which includes providing assistance to all departments and producing the state-required budget documents, the City program and financial plan. This program also monitors and evaluates expenditure and revenue collection during the year, provides policy and fiscal analysis for the City Manager, and includes treasury functions. PERFORMANCE OBJECTIVES 1. Receive an unqualified independent audit opinion for Fiscal by October (Unqualified means it meets all necessary standards). 2. Receive the Government Finance Officers Association (GFOA) and California Society of Municipal Finance Officers (CSMFO) Certificate of Achievement for Excellence in Financial Reporting for our June 30, 2005 Comprehensive Annual Financial Report. 3. Implement 100% of all applicable audit comments for the prior year by June 30 and review and implement appropriate management audit comments within 90 days of receipt. 4. Receive the CSMFO and GFOA Distinguished Budget Award for our Fiscal Year Budget. 5. Provide a monthly status report on expenditures and revenues to departments by the 15th day of the following month. 6. Invest all cash in conformance with the adopted Investment Policy. 7. Coordinate the professional service contract with Hinderliter, de Llamas and Associates reviewing sales tax generation of businesses within the City of Lancaster. 8. Work in close cooperation with the Agency s Financial Advisor, Urban Futures, Inc., to monitor all existing bonds and notes as well as review the overall financial position of the City and Agency. City of Lancaster 111

4 DEPARTMENT: FINANCE 4310 PROGRAM: Administration/Treasury ANALYSIS Special projects continue to increase the demand on the Finance Department; however, processes and systems are continually reevaluated to optimize performance of recurring operations. RESOURCE ALLOCATION REQUIREMENTS Actual Estimate Budget PERSONNEL Number of Positions EXPENDITURES Salary & Benefits $293,302 $328,375 $340,396 Operational 47,128 46,649 51,380 Capital Outlay Capital Replacement Fund 1, TOTALS $341,928 $375,485 $391,937 City of Lancaster 112

5 DEPARTMENT: FINANCE PROGRAM: Administration/Treasury PROFESSIONAL SERVICES Account Firm/Individual Service Cost GFOA CAFR Submission Fee $ 500 GFOA Budget Submission Fee 500 CSMFO CAFR Submission Fee 50 CSMFO Budget Submission Fee 50 HdL CAFR Preparation 350 TOTAL -301 $1, Lance, Soll & Lunghard Annual City Audit $30,135 TOTAL -304 $30,135 City of Lancaster 113

6 DEPARTMENT: FINANCE 4312 PROGRAM: Accounting PROGRAM DESCRIPTION Accounting is responsible for seven (7) subprograms within the Finance Department: (1) Accounts Payable - payment of the City s outstanding obligations; (2) Accounts Receivable - billing and collection of all amounts owed to the City; (3) Business License and Rental Housing Business License - the interpretation of Lancaster Municipal Code Chapter 5.04 and Chapter 5.40; (4) Payroll preparation, distribution, and completion of all related records and reports; (5) General Ledger - processing journal entries, verifying and creating account structures and monthly revenue and expenditure reports; (6) Parking Citation Administration; and (7) Purchasing. PERFORMANCE OBJECTIVES Accounts Payable 1. Prepare and process through warrant procedure all invoices received by the 20th of each month for Council approval and payment the first City Council Meeting of the next month. 2. Take advantage of allowable discounts and pay by due date of invoice; this may involve issuance of checks prior to final warrant approval per the adopted Prepaid Check Policy. 3. Respond to vendor inquiries within 24 hours. Accounts Receivable 1. Process billings generated by all departments of the City and maintain Accounts Receivable to within 75 days average, to accommodate the State of California s payment practices. Business License and Rental Housing Business License 1. Continue the business license and Rental Housing Business License billing and renewal system and, in conjunction with Community Development, establish a complete inventory of City businesses. 2. Investigate/process an estimated 1,200 new and returning business license applications with ongoing emphasis to recoup misreported/unreported/miscoded sales tax revenues. Payroll 1. Process biweekly payrolls within three days of close of pay period and process special pay types as needed per policy. 2. Process associated Payroll reports, i.e., PERS, Federal Withholding, State Withholding, Worker s Compensation Insurance, and all voluntary deductions within legal time period requirements or on payday for Credit Union, Deferred Compensation and Savings Bonds. 3. Process Federal and State quarterly reports within legal time frames. 4. Process Annual Federal and State returns as well as process and prepare W-2 Forms by January 30th each year. General Ledger 1. Process journal entries within five days of receipt. 2. Prepare account analysis within fifteen days after close of month. 3. Prepare monthly revenue/expenditure reports by the 15th day of the following month. 4. Prepare bank reconciliations within twenty days after receipt from bank. City of Lancaster 114

7 DEPARTMENT: FINANCE 4312 PROGRAM: Accounting PERFORMANCE OBJECTIVES (Continued) Parking Citation 1. Process parking citations. 2. Process requests for Administrative Review. 3. Monitor receipts for paid parking citations. 4. Monitor monthly reports of parking citations. 5. Process requests for hearings with Hearing Officer. Purchasing 1. Process 90% of departmental requests within two days of receipt of requisition. 2. Increase number of commodities purchased through the combined efforts of other local entities to increase savings by at least 10%. 3. Maintain standard number of General Fixed Asset spot audits at least two per quarter. RESOURCE ALLOCATION REQUIREMENTS PERSONNEL Actual Estimate Budget Number of Positions EXPENDITURES Salary & Benefits $399,076 $560,097 $833,229 Operational 38,890 60, ,625 Capital Outlay ,000 Capital Replacement Fund TOTALS $437,966 $620,917 $1,003,854 City of Lancaster 115

8 DEPARTMENT: FINANCE PROGRAM: Accounting PROFESSIONAL SERVICES Account Firm/Individual Service Cost CAPPO Procurement Award Submission Fee $50 TOTAL -301 $ HP / RX Laser Printer Maintenance $ 2,000 Cayenta SANS (support changes) 15,000 Cayenta System Audit 5,200 Unknown Timekeeping, cashiering, budgeting systems 100,000 TOTAL -302 $122,200 City of Lancaster 116