FY 2425 2526 Recommended Operating Budget

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 2022 - 23 and 2023 - 24 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 2021 - 22 Annual Comprehensive Financial Report; the City has received the award 28 consecutive years. • The City received the GFOA and California Society of Municipal Finance Officers (CSMFO) awards for excellence in budgeting for the FY 2022 - 24 Biennial Operating and Capital Improvement Program (CIP) Budget. • Successfully presented to the Standard and Poor ’ s Rating Agency for an upgrade to the City Issuer Credit Rating to AAA. • Completed Phase I of the Enterprise Resource Planning (ERP) system, Tyler Munis – Financials. • On behalf of the City utilities customers, applied and received approximately $300,000 from the State Water Resources Control Board and the California Department of Community Services and Development to help offset utilities costs.

ADMINISTRATIVE SERVICES 157