FY 2021 2122 ADOPTED OPERATING AND FY 2021 2526 CIP BUDGETS

Finance

010.2510

Division Description The Finance Division maintains the financial records of the City and prepares financial and statistical data applicable to all funds of the City and the Successor Agency to the former Redevelopment Agency. Responsibilities include cash management; investment; budgeting; financial forecasting; accounting; cashier operations; business license administration; debt management; payroll; purchasing; payables; receivables (including billing and collection of City accounts); financial system information; and support to other departments. Finance works closely with the elected City Treasurer to assure timely and appropriate investment of City funds, in compliance with the City’s Investment Policy and Procedures. FY 2018-19 and 2019-20 Accomplishments • The City received an award from the Government Finance Officers Association (GFOA) for achieving the highest standards in governmental accounting and financial reporting for the FY 17-18 Comprehensive Annual Financial Report; the City has received the award 24 consecutive years • The City received the GFOA and California Society of Municipal Finance Officers (CSMFO) awards for excellence in budgeting for the FY 18-20 Biennial Operating and CIP Budget • Coordinated, compiled, audited and submitted to the County and State two annual Recognized Obligation Payment Schedules (ROPS), the corresponding true-ups of actual expenditures from prior ROPS periods, and the Last and Final ROPS • Finalized the Transient Occupancy Tax (TOT) audit of seven hotels • Updated City’s purchasing and business license codes • Completed select Development Impact Fee and Development Services User Fee Updates • Assisted Community Development Services with completion of Quimby Fee Update FY 2020-21 and 2021-22 Activity Goals • Continue to safeguard City’s assets and maintain and implement appropriate controls to ensure financial compliance with regulations (Fiscal Sustainability) • Continue City tradition of developing a prudent and balanced budget with effective long-term financial planning (Fiscal Sustainability) • Continue representation of Morgan Hill through participation in regional associations relating to Finance such as: League of California Cities, California Society of Municipal Finance Officers, California Municipal Revenue and Tax Association, Association for Government Accountants (AGA), and County of Santa Clara Finance Officers Group (Advancing Regional Initiatives) • Continue to be transparent by posting City employee compensation by employee name and by compensation element, on the City’s website within 3 months after calendar year end (Preserving and Cultivating Public Trust)

145

ADMINISTRATIVE SERVICES