Department is responsible for providing accurate and timely
information regarding the City's financial affairs. To
achieve this, the Department provides the following services:
1. Collection of revenue – Revenue is collected from a
variety of sources including tax such as sales tax, property tax,
and utility user’s tax. Other sources of revenue include grant
funds, charges for services, interest earnings, and
2. Distribution of funds –
payments are made to vendors for services and material received.
An improved system of issuing checks made the release of funds a
reality on a weekly basis. Employee payroll checks and related
benefits are paid on a bi-weekly basis.
3. Proper transaction
recording – detailed accounting is achieved by recording all
financial transactions in the City’s financial system using an
11-digit numbering scheme. Each of these General Ledger Numbers
are unique, are individually budgeted, and performance against
these budgets are tracked.
4. Financial reporting –
Specially designed reports, including the Budget Performance
Report (BPR) and the Landscape Maintenance District (LMD)
Statements are prepared and distributed monthly. Both reports
identify the approved budget for line items and performance
relative to that budget.
Other reports include the Check
Register which clearly identifies City expenditures; and a
Contract Listing which lists all active City contracts, their
expiration dates and total amounts spent. Annual reports include
the Comprehensive Annual Financial Report (CAFR), a report that
regularly receives awards for outstanding financial reporting from
both the California Society of Municipal Finance Officers (CSMFO)
and the Government Finance Officers Association (GFOA).
5. Budget administration –
A biennial budget is prepared for Council review and approval on a
yearly basis. The approved budget is distributed and made
available for public review and reference via the internet.
Internally, the City’s executive staff manages their department’s
respective budgets mostly using the BPR’s.
6. Debt management –
Outstanding debt is administered in full accordance with the
Official Statements of the City’s bond issuances. Accordingly,
principal and interest payments are made based on the Base Rental
Payment Schedules and all Disclosure Statements are regularly
prepared and issued. From time-to-time, outstanding City debt is
analyzed and opinions are provided to Council regarding possible
7. Investment of City funds
– the City’s idle cash is invested in strict accordance with
the City’s Investment Policy with particular emphasis on the
2) Credit risk,
3) Market risk,
4) Liquidity, and
The City currently invests in the
Local Agency Investment Fund (LAIF); Certificates of Deposit
(CDs); and securities issued by the U. S. Government or an agency
of the U. S. Government.
8. Grant / Contract
Administration – Federal, State, and Local grants are
administered daily to help speed up the process of reimbursement
for work already completed and spent by the City on grant projects
previously awarded. Additionally, effort is made to help secure
renewed grant money for projects the City would like to complete.
9. Risk Management –
Policies and procedures are established and stringently followed
to identify and minimize the City’s exposure to risk and potential
financial loss. All contracts are reviewed for adequacy and
compliance with these policies, and special training classes are
held to heighten City employee’s and volunteer’s awareness of
certain high-risk issues.
10. Purchasing – Items
required to run and operate the City are procured through the
Finance Department in accordance with Municipal Code Section
3.40 – Purchasing System.