Laserfiche WebLink
1984 LUNG -TERM FINANCIAL PLAN <br />Page Five <br />1. oversees the financial planning activities of the City. <br />a) Coordination of the preparation of the Long -Term <br />Financial Plan <br />b) Directing and coordinating preparation of the annual <br />budget with close involvement and input from depart- <br />ment heads <br />2. Performs all City accounting and financial reporting <br />activities <br />a) Preparation and control of accounts payable <br />b) Receipt and management of all municipal revenues <br />c) Preparation and control of payroll <br />d) Utility billing preparation and collection <br />3. Prepares monthly financial reports, the annual financial <br />statement, and assists auditors in the conduct of their <br />annual audit of City financial records <br />r 4. Invests temporarily idle City funds to maximize return on <br />available resources <br />5. Manages the City's insurance programs and evaluates and <br />recommends modifications to ensure maximum protection at <br />minimum costs <br />6. Oversees debt management program of the City <br />7. Oversees the City's general purchasing program <br />In recent years external factors have caused a repriorization of <br />the duties and responsibilities of the Finance Department. <br />Economic considerations, i.e., the economy and the State's <br />"fiscal crisis", have brought about an increasing emphasis upon <br />financial reporting new generally accepting accounting standards <br />and reporting requirements mandated by the State of Minnesota <br />have and will continue to promote greater disclosure and under- <br />standing of City finances by bond rating services, State and <br />Federal agencies, the general public, and other readers of City <br />financial statements. Economic conditions have precipitated re- <br />ductions in the amounts of Federal and State Aids to cities. <br />Those reductions have challenged cities to maintain present <br />levels of services to their citizens with reduced revenues. The <br />City has met this challenge through improved financial planning. <br />The annual budget has been substantially improved in recent years <br />as a result of greater involvement and participation by Staff and <br />Council. As a consequence the City has been able to continue to <br />provide needed public services to its residents with only modest <br />increases in property tax rates and to develop cash flow and <br />