The Finance Department is located within City Hall and is responsible for the primary functions as summarized below:
Budget Compliance and Management
Responsible for development and coordination of the Annual Budget consisting of operating budgets of various departments/funds and the five-year Capital Improvement Program
Responsible for monthly financial reports on cash and investments, budget versus actual (with variance analysis and explanation) and Balance Sheets; the Comprehensive Annual Financial Report (CAFR) and all reports required by local, state, federal and other regulatory agencies
Operating under an internal control framework, responsible for processing and recording of cash receipts, pension and tax report preparation, verification of invoices, preparation of paper and electronic disbursements and monitoring of purchases.
Investment and Financial Strategies
Responsible for implementing City’s Investment Policy, reviewing cash and investment portfolio, preparing bank reconciliations and adhering with applicable Iowa State Statutes.
Responsible for evaluating debt financing plan options, timely payment of interest and principal of outstanding debt and monitoring of report requirements.
Responsible for promotion of effective program to protect City’s property from loss or damage in conjunction with City Clerk’s Office.