Overview of What the Finance Department Does Finance, Department, Overview, The Finance Department of the City of Rancho Palos Verdes is responsible for managing all financial affairs and the information technology system of the City, which include:, Finance Administration An Overview of What the Finance Department Does
AN OVERVIEW OF WHAT THE FINANCE DEPARTMENT DOES

AN OVERVIEW OF WHAT THE FINANCE DEPARTMENT DOES

The Finance Department of the City of Rancho Palos Verdes is responsible for managing all financial affairs and the information technology system of the City, which include:

Finance Administration

  • Participation in the preparation of the City budget under the leadership of the Assistant City Manager;
  • Preparation of the midyear budget review for the City Council as required by the City’s Municipal Code;
  • Preparation of the City’s long range fiscal projection, known as the annual Five Year Financial Model;
  • Preparation of the City’s information technology plan, known as the Network Plan;
  • Management of City cash balances and investments;
  • Administration of false alarm invoicing and collection;
  • Administration of 350 trust deposit accounts;
  • Processing approximately 1,700 business license applications annually;
  • Issuing approximately 50 solicitation authorization requests annually;
  • Maintaining a fixed asset inventory for the City;
  • Administration of the City information technology system;
  • Providing staff support to the Finance Advisory Committee; and
  • Providing staff to serve as the City receptionist, switchboard operator, and cashier;

Revenues and Expenditures

  • Processing approximately 1,000 purchase orders and 4,500 accounts payable invoices;
  • Preparation of 26 register of demands for City Council authorization;
  • Processing revenue receipts and accounts receivable billings and collections;
  • Coordination of Utility User Tax exemptions and monitoring receipts from utility companies;
  • Administration of assessment district billings and payment tracking; and
  • Maintain copies of lease and rental agreements, as well as invoicing, and collection of rental revenue;

Payroll

  • Processing payroll and employee insurance benefits reporting and payments;
  • Coordination of the employee 457 retirement program; and
  • Preparation of federal and state payroll tax reports and payments;

Fiscal Reporting

  • Maintain the general ledger of the City
  • Coordination of the preparation of the City’s annual financial audit and CAFR;
  • Preparation of various state and federal reports including the annual State Controller's Report, Street Expenditures Report, Statement of Indebtedness Report, Gann Limit Report, quarterly State Sales Tax report; and federal and state fund audits (Gas Tax, Transit, IRS, etc.); and
  • Preparation of monthly financial summaries and Treasurer's reports.

Information Technology

  • Periodically update the information technology plan (the Network Plan) of the City;
  • Manage the budget for the Information Technology Systems of the City included in the Equipment Replacement Fund – Computers;
  • Maintain the City’s information technology system, including a server arrangement for file storage, email and integration of the NT and AS400 platforms, approximately 60 workstations with productivity and specialty software using a third-party contractor; and
  • Maintain the City’s web site using a third-party contractor;