Agenda Packets - 1986/10/27 - Laserfiche WebLink

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1986 LONG TERM FINANCIAL PLAN Page Four t In 1985 the Mounds View City Council authorized the hiring of Management Advisors, Inc. to perform a study of the City's data processing system requirements. As a result of: this study the City Council authorized the purchase of an in-house computer system to meet the great majority of the City's data processing needs. The purchase of the hardware and software for the computer system will occur over a five year period commencing with the purchase of the initial hardware and software in 1986 and additional software in 1987. During 1987 the Clerk -Administrator's Office will be significantly involved in the implementation of the Economic Development Plan/Program adopted by the City Council in 1986 and in overseeing the coordinated implementation of the various long range plans approved by the City Council over the last four years. B. Finance - The Finance Department, headed by the Finance Director, who also serves as Treasurer, coordinates the financial activities of the City. Currently departmental activities include the following: 1. Oversee the financial planning activities of the City. a. Coordinate the preparation of the Long -Term r Financial Plan b. Direct and coordinate preparation of the annual budget with close involvement and input from department heads 2. Perform all City accounting and financial reporting activities a) Prepare and control accounts payable b) Receive and manage all municipal revenues c) Prepare and control payroll d) Utility billing preparation and collection 3. Prepare monthly financial reports, the annual financial statement, and assist auditors in the conduct of their annual audit of City financial records 4. Invest temporarily idle City funds to maximize return on available resources 5. Manage the City's insurance programs and evaluate and recommend modifications to ensure maximum protection at minimum cost 6. Oversee debt management program of the City