Finance
The City’s Finance Department is responsible for all monetary transactions that occur within the entire City government. In addition to managing the day-to-day flow of revenue in and expenditures out, the Finance Department must plan for the future cash needs of the City and the tax impact of its residents. As stewards of the public funds, officials of the Finance Department must exercise the highest standards of prudence and integrity in the management of funds in their custody and all financial transactions.
The department is segregated into four key areas, all under the direction of the Chief Financial Officer.
Treasury:
Treasury handles the daily cash management of the City’s finances. All banking functions, including the reconciliation of accounts, are performed here. When purchases have been approved for payment, checks are drafted and distributed to vendors. Various cash revenues due as part of an Accounts Receivable process are also posted here.
Payroll:
Payroll processes the paychecks for the City’s 500+ employees. The City’s annual payroll of over $40 million must be reconciled to the penny for each and every payroll cycle. Pension payments and retirement benefits are also coordinated for the City’s active and retired employees.
Employee Benefits:
The City’s Health Benefit program for active and retired employees is a self-insured enterprise with an annual operating budget of over $15 million. All facets of employee health benefit, worker’s compensation, and general liability claims are handled here.
Procurement:
The Procurement area of the City’s Finance Department oversees a decentralized system of purchasing where departments are responsible for the processing of their own requisitions. Upon receiving all of the proper approvals, the Finance Department processes over 6,000 Purchase Orders annually – all under the strict guidelines of the Local Public Contracts Law.
The Procurement area also makes sure the City is receiving the best value in its purchases. Every purchase over $40,000 must be publicly bid and awarded to the lowest responsible respondent. Bid specifications are developed by the Procurement areas as well as Requests for Proposals (RFP’s), Requests for Qualifications (RFQ’s) and Professional Service Agreements (PSA’s) for the City’s professional attorneys, engineers, auditors, etc.
Files & Links
Financial Statements
- 2023 Annual Debt Statement
- 2023 Annual Financial Statement
- 2022 Annual Debt Statement
- 2022 Annual Financial Statement
- 2021 Financial Statement
- 2021 Debt Statement
- 2020 Financial Statement
- 2019 Financial Statement
- 2019 Debt Statement
- 2018 Financial Statement
- 2018 Debt Statement
- 2017 Financial Statement
- 2017 Debt Statement
- 2016 Financial Statement
- 2016 Debt Statement
- 2015 Financial Statement
- 2015 Debt Statement
- 2014 Financial Statement
- 2014 Debt Statement
- 2013 Financial Statement
- 2013 Debt Statement
- 2012 Financial Statement
- 2012 Debt Statement
- 2011 Debt Statement
- 2011 Financial Statement
- 2010 Financial Statement
- 2010 Debt Statement
Annual Municipal Budgets
Budget Presentation
- 2024 Budget Presentation
- 2024 User Friendly Budget
- 2023 Budget Presentation
- 2023 User Friendly Budget
- 2022 Budget Presentation
- 2022 User Friendly Budget
- 2021 User Friendly Budget
- 2021 Budget Presentation
- 2020 Budget Presentation
- 2020 User Friendly Budget
- 2019 Budget Presentation
- 2018 Budget Presentation
- 2018 User Friendly Budget
- State of City Finance 2017
- 2017 User Friendly Budget
- 2017 Budget Presentation
- 2016 User Friendly Presentation
- 2016 Budget Presentation
- 2015 User Friendly Budget
- 2014 Amended Budget Presentation
- 2014 Budget Presentation
Contact Information
- Chief Financial Officer
- James Mangin
- City Treasurer
- Sussana Eisenmann
- Director of Purchasing
- Monica Villafana, Q.P.A