FINANCE DEPARTMENT
MISSION STATEMENT: To manage and to protect the City's financial resources by applying generally accepted accounting and investment principles, to provide efficient reprographic and information systems services to internal users, to enforce the City's business license and purchasing ordinances as outlined in the West Covina Municipal Code.
The finance department is responsible for all financial affairs of the City and the Community Development Commission (CDC). The goal of the finance department is to maintain financial stability, to provide accurate and timely financial information and recommendations to the City's decision makers, and to protect the City's assets through the establishment of effective internal controls. The department also strives to provide valuable and responsive support services to the other City departments. The department consists of six divisions and a total of 22 full-time employees.
The administration division oversees all aspects of the finance department and is responsible for the City's debt management and budget preparation. The revenue services division manages cash activity for the City and CDC, and is responsible for the receipt, deposit, investment and disbursement of funds. It also oversees the business license operations, which is responsible for ensuring that all businesses operating within the City maintain a current business license in compliance with the Municipal Code and pay applicable taxes. The city treasurer is elected by the community at large and reviews monthly investment reports and cash flows. The finance director has responsibility for managing the day-to-day operations. Surplus funds are invested for maximum safety, liquidity and yield in compliance with the City's investment policy and the California Government Code.
The accounting division includes the payroll, accounts payable, general accounting, financial reporting, fixed assets and accounts receivable functions. This division monitors various lease and loan payments due to the City and CDC; maintains financial records; complies with various federal, state and local reporting requirements; provides monthly budget reports to all departments; and assists employees with payroll issues including tax withholdings, direct deposit and deferred compensation.
The purchasing division exists as a service agency for other departments and divisions of the City. Our customers are the employees of the City of West Covina, and in keeping with the City's core values, customer service is of the utmost priority in purchasing. The purchasing division is responsible for maximizing cost effectiveness and controlling purchases through centralized purchasing, assists City departments in vendor selection for equipment and service purchases, and assures that City purchasing policies are followed.
The information systems division provides programming and hardware maintenance for the City's automated systems, supports computer users in all departments, maintains the citywide and local area networks, assists departments in the selection of software systems, and coordinates contract computer services for web site management. The division also coordinates training of City staff on new computer equipment and software, and develops office automation standards.
The reprographics division has two full-time employees that coordinate citywide shipping and mailing, photocopying, printing, binding, and desktop publishing services. This division also provides the paper used in all department copiers, printers and other related supplies such as envelopes, letterhead, etc.
FINANCE DEPARTMENT ORGANIZATIONAL CHART
FY 2004/2005 ACCOMPLISHMENTS
- Pre-paid the annual retirement contributions to CalPERS resulting in budgetary savings to the City.
- Began diversifying the City's investment portfolio by purchasing investments at higher interest rates now available in the current interest rate environment.
- Implemented a vacant position budget savings program that shares a portion of the budgetary savings with the individual departments while capturing budget savings for the City and returning those savings to the City's reserves.
- Completed the West Covina Sportsplex grading financing, which provides funding for the first phase of the former BKK landfill site redevelopment.
- Initiated the Citizens Budget Review Committee, which furthers the City Council goal of involving citizens in the City budget process.
- Prepared a Comprehensive Annual Financial Report (CAFR) for the year ended June 30, 2004 that received the Government Finance Officers' Association Certificate of Achievement for Excellence in Financial Reporting.
- Continued the on-going evaluation of internal controls to maintain proper segregation of duties while streamlining department workflow.
- Prepared financial reports required by federal, state and county agencies.
- Cross-training efforts were continued within the department, particularly in the payroll function. Desk procedures manuals are being developed and will continue to be refined during fiscal year 2005/2006.
- Assumed many of the contract administration, grant monitoring, and reporting duties from other City departments.
- Following a successful implementation of the new financial software, assisted departments with use of the budget preparation and requisitioning modules. Continued to fine tune reporting from the new software.
- Coordinated with Communications to connect all computers in the north wing of the senior center to the main computer network via the Internet. The computer network provides e-mail, Internet, file storage, and programs to staff.
- Replaced all old computers in the senior center computer lab and setup more computers for staff at the senior center.
- Upgraded the network infrastructure within the city hall's building to a faster speed.
- Provided City employees with on-site training of Microsoft Excel, Outlook, and Word.
- Developed purchasing specifications and administered 13 formal bid openings for fiscal year 2004-2005.
- Implemented the U.S. Communities Contract with Office Depot, and hosted an on-line training session for City employees on proper usage of that contract. The City will realize an estimated 10% savings off of its prior office supply contract.
- Reviewed, updated, and issued new open purchase orders, and new open purchase order lists were issued to all City departments. A listing of all existing contract services was also developed.
- Developed a Statement of Non Collusion by Contractor form and an Agreement for Indemnification form.
- Reprographics moved business cards production to laser printer instead of a printing press. This saves time on drying, press set-up time, and cutting, significantly reducing turn around time for business cards.
- Reprographics maintained the same level of production with one less full-time staff member by expanding the use of part-time employees and no-cost-to-City ROP workers.
- Accomplished a cost savings by purchasing from an alternate envelope source.
- Upgraded business license software.
- Hired and trained temporary business license account clerk.
- Generated 130 new business license applications.
- Adjusted business license fees and construction tax by CPI increase.
- Received GFOA Distinguished Budget Presentation Award.
- Implemented online bank statements download.
FY 2005-2006 GOALS AND OBJECTIVES
Develop, recommend and implement fiscal policies and procedures to guaranty the financial integrity and solvency of the City and its related agencies.
- Continue to recommend budget solutions to the City Council in an effort to balance the City's budget.
- Provide data, resources and options to the newly established Citizens Budget Committee in an effort to gather consensus on budget balancing measures.
- Work closely with City departments to identify new revenue sources and methods to reduce costs.
- Reevaluate the fees and charges for City provided services to ensure the fees are reasonable and fully recover the cost of providing those services.
- Monitor all current revenue sources and perform audits of various revenues to ensure the City is receiving all the existing revenues it is entitled to.
- Effectively manage the City's cash and investment portfolio to maximize revenues while adhering to the primary goals of safety and liquidity of the City's cash reserves.
Provide outstanding customer service to City departments to assist them in performing their department operations.
- Provide timely and accurate financial information to departments and policy decision makers to enable them to effectively monitor budgets and make informed decisions regarding financial matters.
- Assist the Human Resources (HR) staff in the implementation of the HR software module which will be integrated with the existing payroll module, and provide for a more collaborative working environment between the Finance and Human Resources departments.
- Coordinate customer support issues, and assist department users with specific questions related to the City's financial software system to increase the ability of users to understand and use the system.
- Develop and present to City Manager and City Council a Purchasing Policy and Procedures manual that will be approved and utilized citywide. Once approved, training sessions will be provided to City departments on the policies and procedures. The policies will become a tool for promoting efficiency and economy in City operations while maintaining the City's reputation for fairness and integrity.
- In conjunction with the Chamber of Commerce, the City will host its second Procurement Pavilion with vendors seeking to do business with the City and other local agencies.
Ensure that all financial reporting meets professional standards and that generally accepted accounting principles are adhered to.
- Prepare a Comprehensive Annual Financial Report and submit it to the Government Finance Officers Association and the California Society of Municipal Finance Officers awards programs. Submission to these programs ensures that the report is prepared to the highest industry standards and demonstrates to external organizations that the City is committed to disclosing financial information in a professional and fiscally responsible manner.
- Provide assistance to external auditors in their task of confirming that the City's accounting records are maintained in a fiscally responsible and professional manner and that grant funds were spent in accordance with the governing regulations.
Continue to develop a professional and well-trained staff in order to provide the highest level of quality and cost-effective service.
- Provide computer software classes on specific topics to City staff on a regular basis to maximize use of technology resources.
- Maintain and update the City's website using in-house staff and web content management technology to reduce the cost of this service.
- Continue to develop and cross-train department staff to provide the most efficient work force possible.
- Continue the use of state funded ROP students, which provides the City with no-cost manpower and valuable work experience to the students.
PERFORMANCE MEASURES
AUTHORIZED POSITIONS
ACTIVITY TREE
BUDGET SUMMARY
|