FY2021 Adopted Budget

FY2021 Adopted Budget Organizational Budgets

Finance Division

Finance Division The Finance Division under the direction of the Finance Director, is composed of Finance Administration and the departments of Accounting, Treasury, Procurement and Contracting, and Risk Management. The Finance Director, appointed by the County Executive, is responsible for the preparation of the County's comprehensive annual financial report. The Finance Director also acts as a financial advisor to the Executive. Finance Administration Finance Administration provides guidance and support to the Accounting, Treasury, Procurement and Contracting and Risk Management departments. This office provides financial support and information to the County

Executive and is responsible for providing the County Council with fiscal impact notes and financial information on proposed legislation and resolutions. Finance Administration is responsible for the GHYHORSPHQW RI WKH &RXQW\¶V ILVFDO policies, as well as the integration of finance-related information systems throughout County Government. Finance Administration is also responsible for managing the timely and economic issuance of long-term financial obligations; developing and maintaining strong rating agency relations; preparing accurate and timely financing GRFXPHQWV LQFOXGLQJ WKH &RXQW\¶V $QQXDO ,QIRUPDWLRQ 6 tatement; ensuring strict compliance with disclosure requirements; and coordinating bond counsel review. Administration also plays an integral role in the formation, monitoring and payment processing of Tax Incremental Financing (TIF) and Community Development Authority (CDA) conduit debt financing. 7KH )LQDQFH 'LUHFWRU VHUYHV DV D FRPPLWWHH PHPEHU LQ WKH DGPLQLVWUDWLRQ DQG PDQDJHPHQW RI WKH &RXQW\¶V 3HQVLRQ Defined Contribution Plan, Other Post Employment Benefits (OPEB) and Length of Service Awards Program (LOSAP) trusts.

Accounting Department The Accounting Department is responsible for the analysis, interpretation, and presentation of the County's financial position and results of operations through timely, accurate, and professional financial reports. These reports provide public assurance as to the accountability and integrity of the use of County resources; adherence to budgetary policies established by management; and compliance with Federal, State, and County mandates. The Department prepares the Comprehensive Annual Financial Report as well as other standardized and specialized reports. This Department also provides high quality, timely service to County departments through analysis and technical assistance.

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