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Financial Plan. <br /> b. Direct and coordinate preparation of the annual <br /> budget with close involvement and input from the <br /> Department Heads and Clerk-Administrator. <br /> 2. Perform all City accounting and financial reporting <br /> activities. <br /> a) Prepare and control accounts payable. <br /> b) Receive and manage all municipal revenues. <br /> c) Prepare and control payroll. <br /> d) Utility billing preparation and collection. <br /> 3. Prepare monthly financial reports, the annual financial <br /> statements, and assist auditors in the conduct of their <br /> annual audit of City financial records. <br /> 4. Invest temporarily idle City funds to maximize return on <br /> available resources. <br /> 5. Manage the City's insurance programs and evaluate and <br /> recommend modifications to ensure maximum protection <br /> at minimum cost. <br /> 6. Oversee the debt management program of the City. <br /> 7. Oversee the City's general purchasing program. <br /> In recent years external factors have caused a repriortization of the <br /> duties and responsibilities of the Finance Department. Economic <br /> considerations, i.e., the economy and State's "fiscal crisis", have <br /> brought about an increasing emphasis upon financial reporting. New, <br /> generally-accepted accounting standards and reporting requirements <br /> mandated by the State of Minnesota, have and will continue to <br /> promote greater disclosure and understanding of City finances by <br /> bond rating services, State and Federal agencies, the general public, <br /> and other readers of City financial statements. <br /> 15 <br />