Agenda Date: 04/09/2024
Subject:
Title
Finance Department Overview and Update
Body
From:
James L. Becklenberg, City Manager
Prepared by:
Tiffany Hooten, Finance Director
Presentations:
Tiffany Hooten, Finance Director
PURPOSE:
The Finance department will provide an update on achievements from 2023 and department workplan items for 2024.
LONG-TERM OUTCOME(S) SERVED:
High Quality Governance
DISCUSSION:
The Finance Department supports both internal and external customers. Our team provides customer service directly to utility billing customers and taxpayers while ensuring our internal departments are supported as well.
The Finance Department is responsible for several financial aspects of the city including, but not limited to the following:
? Sales and Use Tax Collections
? Business/Sales and Use Tax Licenses
? Utility Billing
? Payroll
? Cashiering
? Accounts Payable
? Accounting
? Budget
? Cash Management
? Reporting
? External Audit
The Finance Department team has been heavily immersed in the 15-month ERP implementation that begin in January 2023. Both Human Resources and Finance are live with the Workday ERP system as of April 1, 2024. This project is one of the largest and most inclusive projects the Information Technology, Human Resources and Finance departments have ever embarked on.
BACKGROUND:
Finance highlights and accomplishments for 2023 include the following:
? Workday ERP project work
? Procurement Ordinance adoption - policy revisions in 2024
? Grant management enhancements
? Reduced delays in retainage payments to vendors by automating final settlement process
? 2022 Audit completion
? 2024 Budget development
? GFOA Awards:
? Certificate of Achievement for Excellence in Reporting Awards for 2021 ACFR
? Distinguished Budget Presentation Award for 2023 Budget
The 2024 Finance Departmental Workplan includes the following with a few of the items initiated in 2023:
? Workday ERP Implementation (Finance go-live was 4/1/24!)
? Evaluate fin...
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