The staff members of the Finance Department carry out five major functions: budget, financial accounting, accounts receivable, accounts payable, and purchasing and inventory. Each function's tasks can be found below.

Budget

• Preparing, managing, and monitoring the annual budget and the five-year capital improvement plan in conjunction with all city departments
• Providing periodic budget vs. actual revenue and expenditure reports and projections using trend analyses, economic forecasts, and other relevant data
• Providing recommendations related to organizational performance and process improvements using cost / benefit analyses, resource surveys, and other financial planning metrics

Financial Accounting

• The accurate recordation and reconciliation of revenue and expense data to comprehensively manage the city's financial accounts
• The generation of the Comprehensive Annual Financial Report (CAFR), official statements, and all other required annual and periodic reports
• Tracking capital and fixed asset additions and depreciations

Accounts Receivable

• Billing for departmental services provided to citizens, agencies, and other localities
• Billing for enterprise activities including water and sewer utilities and refuse collection
• Utilities customer service including matters related to service start / cancellation and billing inquiries
• Referring aging accounts to the treasurer for collection

Accounts Payable

• Payment of all invoices presented to the city for payment
• Unclaimed property management remittance to the treasurer of the commonwealth
• Generation of IRS Form 1099 for vendors that meet certain criteria
• Payment of all city employees to include tracking leave balances and benefits deductions
• Timely processing and reporting of withheld payroll taxes, paycheck garnishments and liens, and quarterly IRS filings
• Generation of Annual Benefits Statements and Forms W-2

Purchasing & Inventory

• Assisting departments in the formulation, publishing, evaluation, and awarding of informal requests for quotes, invitations for bid, and requests for proposals
• Processing purchase orders, receipts, and invoices
• Posting daily transactions related to encumbrances, inventory issues, and adjustments
• Monitoring and reconciling inventory counts