Finance

Finance

Mission Statement:

With a focus on outstanding performance in areas of financial planning, management and reporting, accountability, and customer service, the Finance Department supports Council, individual departments, and residents of the City, by providing sound, strategic financial planning, accurate and timely financial information, and always searching for ways to improve service to our customers.

Primary Responsibilities

The Finance Department is responsible for the financial administration of the City involving general accounting, payroll, accounts receivable and payable processing, as well as the collection of property taxes and other fees and charges. We oversee the annual budget process, corporate borrowing and investing, purchasing, insurance coverage and claims, and manage reserve and surplus balances. The Finance Department also produces the City’s annual financial statements as well as other legislated financial reports. Our staff support other City Departments by preparing historical financial data analysis, developing projections and forecasts, and assisting with grant applications and reporting. Finance staff help support the 311 call system as well as manage a large volume of inperson inquiries at City Hall.

2017 Key Projects

Budget Process Framework

In 2017, the budget process framework was improved to complete the Five Year Financial Plan earlier than had been the practice in the past. The new schedule allows for better planning of projects once approved, and it takes full advantage of the relatively short construction season. Another important benefit is that it allows the Corporation’s project managers to get to the market with their competitive processes early in the season thereby securing better pricing. Budget Software The Finance Department undertook a competitive bid process to select a vendor to provide the City with a budget platform. The result was a format that will meet the needs of the Finance Department as well as all other users throughout the Corporation. The system will streamline the budget process and provide departments with access to better reporting throughout the year. 3-1-1 The Finance Department collaborated with Public Works and Community Services as well as other departments to bring the new 3-1-1 system on-line. As part of the management team responsible for the implementation of the call system, Finance participation included overseeing the development of the FAQ for the 3-1-1 Playbook, creating the Auto-Attendant list for the system, developing the call-taker training outline and delivering parts of the training. Once the system went live, Finance management staff continued to play an active role in co-managing the call-takers and overseeing updates to the Playbook. Bargaining Along with other members of the management group, Finance participated in negotiations with C.U.P.E. for a new collective agreement. The negotiations were productive, each side gaining appreciation for issues faced by the other. The resulting agreement provides stability and certainty for all stakeholders.

Climate & Energy Action Award Presentation

Idlewild Dock Core Department Mandates: • General Accounting • Budgeting • Financing • Payroll • Procurement

Fall Festival

2017 Priority:

• Deliver exceptional service in the area of financial management

2017 Key Accomplishments:

• Improved budget process framework to facilitate earlier adoption • Information Systems manager recruitment 2018 Goals: • Roll out budget software to Corporation and manage 2019 - 2023 budget cycle entirely through new platform