Finance Program Outcome Statement

Transcription

1 Biennial Program Outcome Statement Maintain the public trust through sound financial management and the efficient and effective use of Bellevue s financial resources. 7 Goals: Ensure the longterm financial stability and health of Bellevue Protect the City s financial integrity and credibility Strengthen the department for continued excellence Services and Accomplishments The s Department consists of the following teams: Purchasing, Payroll, Accounts Payable, Contracting Services, Tax, Treasury, Accounting, Business Systems and. The Department provides financial services for all City operations. It assists departments in purchasing supplies, paying vendors, managing the contract process, and developing budgets. It provides payroll services for all City employees, is responsible for cash management, collects business and other taxes, and performs city accounting functions. The Department also produces official reports for City Council and the general public, including operating and capital budgets, and the Comprehensive Annual Financial Report. The following are the major accomplishments: Goal: Ensure the longterm financial stability and health of Bellevue Attained total business tax audit, delinquency and detection recoveries in 2007 of $6.3 million Increased usage of the ERP system by 35 and users by 240. (Attributable to the implementation of Payroll and HR SelfService for employees which includes online pay stubs) Received the Government Financial Officers Award for Distinguished ary Presentation Saved almost $300K through the activities of our centralized purchasing office In 2007, exceeded the average yield of 90day Treasury Bills by 0.6, equivalent to an additional $344,000 of investment revenue Converted City s financial accounting to a modified accrual basis Goal: Protect the City s financial integrity and credibility Received an unqualified audit opinion from the State Auditor s Office for 2007 Maintained Aaa credit rating Developed and completed the first cycle of the City s long range planning process Completed four internal audit reviews Developed a new Cash Policy and Procedures document Conducted reviews of cash handling practices at a couple of City facilities Migrated to a new banking platform which resulted in enhanced efficiencies due to automation of manual processes Discontinued the use of city warrants by introducing issuance of checks to all city vendors Goal: Strengthen the department for continued excellence Automated and streamlined business processes including online pay advices, timekeeping and refund processing Completed initial integration of ECM to JDE for invoice lookup Departmentwide participation in process to identify tools to enhance departmental communication Revised business expensing and contracting policies

2 Biennial Organizational Chart Total FullTime Equivalents (FTE) = Financial Planning Total FullTime Equivalents (FTE) = 5.02 Financial Operations Total FullTime Equivalents (FTE) =

3 ed Cost Summary Biennial Financial Planning 8,80,884 9,786,880 Financial Operations 5,004,25 5,089,00 FY 200 9,470,3 0,84,48 5,764,37 5,985,24 Base 3,85,098 4,875,979 5,234,448 6,826,72 73 Reserves 3,04,000 5,554, , ,058 JDE Ongoing Staffing 98,252 05,60 Tax Analyst 68,404 73,820 Program Enhancements 66,656 79,430 Total 6,226,098 20,430,626 6,200,736 7,846,209 Expenditure Category Summary Personnel 5,004,859 5,22,35 Interfund 235, ,576 M & O 7,726,297 8,532,052 Capital 28, ,000 FY 200 5,75,708 5,938,846 74, ,95 8,943,959 0,299,390 Total Expenditures 3,85,098 4,875,979 5,40,04 7,006,5 Total Reserves 3,04,000 5,554, , ,058 Total 6,226,098 20,430,626 6,200,736 7,846,209 Funding Summary General Fund 6,976,06 7,24,068 Land Purchase Revolving Fund 730, ,000 Operating Grants/Donations/Sp Reserves Fund 238, ,409 Interest & Debt RedemptionRegular Fund 5,754,082 2,45,49 LID Control Fund 0,000 General CIP Fund 2,48, ,000 FY 200 8,042,842 8,387,26 25,370 29,75 7,589,272 8,869, , ,60 Total Resources 6,226,098 20,430,626 6,200,736 7,846,209 FTE Summary Financial Planning Financial Operations FY Total FTE

4 74 Key Departmental Metrics Biennial Unit of Measure Type of Indicator Actual FY 200 Financial Operations Identify 250 unregistered businesses # Effectiveness Tax revenues from delinquencies, audits, & detection ($mil) $ Effectiveness Decrease total number of contracts through consolidation Decrease number of Accounts Payable checks processed by 2 Efficiency 5 5 Efficiency 2 2 Receive unqualified audit opinion Yes=,No=2 Effectiveness Review adherence to Cash Policy/Procedures at 0 locations # Workload 0 0 Amount saved through central purchasing savings Financial Planning Yearend expense variance from 2nd quarter report. Yearend revenue variance from 2nd quarter report Return on City investments exceed standards Earn biennial GFOA Distinguished Award $ Yes=,No=2 Efficiency 273,000 50,000 50,000 50,000 Effectiveness Effectiveness Effectiveness Effectiveness City Bond Rating (Moody's) =Aaa Effectiveness

5 Work Initiatives Biennial Goal: Ensure the longterm financial stability and health of Bellevue Update long range capital & operating budget plan. Update Bellevue Convention Center Authority Operating Agreement. Continue Audit, Delinquency and Detection programs. Complete implementation of new tax system. BelRed finance plan. B&O tax allocation & apportionment. Municipal court and jail alternatives. 75 Goal: Protect the City s financial integrity and credibility Enhance internal audit and review program. Reinforce cash handling training, review cash processes and conduct surprise cash counts. GFOA best practice reviews. Grants management review. Goal: Strengthen the department for continued excellence Continue to identify and implement business and system improvements that increase efficiency and/or improve customer service (e.g. timekeeping, vendor payments). Respond to vendor changes by developing the integration between our financial processes systems and the vendor s (e.g. MEBT, FSA, Procard). Leverage the integration between JDE and other internal and external automated systems. Develop succession and employee development plans. Update performance evaluations. Implement customer satisfaction standards/surveys. Improve internal communications. Major Challenges for the Biennium Optimizing the integration of the financial systems with other key internal and external automated systems for efficiency and effectiveness. Recruiting and retaining high quality employees. Clarifying our roles, both internally and externally, within a changing organizational structure. Providing leadership and guidance to departments while promoting innovation. Building division/department coordination while getting our core work done. Staying on top of the increased demand for services and expectations in the midst of system changes and resource instability fluctuations

6 76 Program Statement Biennial Financial Operations Maintain the public trust through the efficient and effective use of Bellevue s financial resources including uniform tax collection, accurate payments and financial reports, sound investment strategies, and strong internal controls. Summary of Services Provided Manage the City's assets through effective financial operations and the implementation of strong internal controls. ed Cost Summary Accounting 676, ,090 Accounts Payable 404,52 46,293 Business Systems 82,874 85,780 Central Services 66,037 72,899 Contracting Services 548, ,648 Director's Office 470,26 483,40 General CIP Projects General ServicesPurchasing 644,498 66,04 Payroll 698,90 704,44 Tax,006,207,020,659 Treasury 406, ,45 Base 5,004,25 5,089,00 FY , , , ,22 90,380 94,4 374, , , ,03 522, , , ,868 65,743 64,99,3,05,50,85 65,645 64,66 5,764,37 5,985,24 JDE Ongoing Staffing 98,252 05,60 Tax Analyst 68,404 73,820 Program Enhancements 66,656 79,430 Total 5,004,25 5,089,00 5,930,973 6,64,67 Expenditure Category Summary Personnel 3,54,234 3,592,587 Interfund (24,749) 3,08 M & O,54,730,493,433 Capital FY 200 4,033,03 4,83,280 87,98 95,897,709,96,785,494 Total Expenditures 5,004,25 5,089,00 5,930,973 6,64,67 Funding Summary General Fund 5,004,25 5,089,00 General CIP Fund FY 200 5,832,72 6,059,06 98,252 05,60 Total Resources 5,004,25 5,089,00 5,930,973 6,64,

7 Biennial Financial Operations 77 FTE Summary Accounting Accounts Payable Business Systems Contracting Services Director's Office General ServicesPurchasing Payroll Tax Treasury FY 200 Total FTE Key Departmental Metrics Unit of Measure Type of Indicator Actual FY 200 Ensure the City's longterm financial stability and health Identify 250 unregistered businesses # Effectiveness Tax revenues from delinquencies, audits, & detection ($mil) Decrease total number of contracts through consolidation Decrease number of Accounts Payable checks processed by 2 Amount saved through central purchasing savings $ $ Effectiveness Efficiency 5 5 Efficiency 2 2 Efficiency 273,000 50,000 50,000 50,000 Protect the City's financial integrity and credibility Receive unqualified audit opinion Yes=,No=2 Effectiveness Review adherence to Cash Policy/Procedures at 0 locations # Workload 0 0 Issues related to Department Performance The City received an unqualified audit opinion for its Comprehensive Annual Financial Report (CAFR). The Tax Office recovered $6.3 million in local tax revenues for audit, delinquency and detections work 275 of the total target saw a 35 increase in enterprise resource planning (ERP) system usage over 2007 levels. Payroll and HRrelated efficiencies were made possible by leveraging our ERP system investment. Savings from central purchasing in 2007 were $273,000. The bulk of these savings came through the disposal of surplus property ($74,000). Program Notes The purpose of this program is the ongoing financial operations for City resources. The 090 includes the addition of a Tax Analyst position to assist with the growing volume of delinquent collections and desk audits. This position is supported by tax revenue recoveries. Additionally, this budget makes permanent one staff support position for the City s Financial Reporting System

8 78 Program Statement Biennial Financial Planning Maintain the public trust through sound financial management by providing timely and accurate financial information to enhance decision making. Summary of Services Provided Provide the City Council, public, and department staff with timely, accurate, and high quality financial information in an efficient, costeffective manner to enhance decision making and maximize stewardship of the City's financial resources. ed Cost Summary,265,934,306,9 Business Systems 82,874 85,780 Director's Office 470,26 483,40 General CIP Projects 28, ,000 Investments/Debt 52,778 59,597 LTGO Bond Supplemental CIP 847,745 New City Hall Debt Service 5,753,082 6,472,757 Operating Grants 238, ,409 Base 8,80,884 9,786,880 FY 200,428,467,56,9 90,380 94,4 522, , , ,000 68,352 74,93,033,624,037,574 5,756,06 6,99,666 25,370 29,75 9,470,3 0,84,48 Reserves 3,04,000 5,554, , ,058 Total,22,884 5,34,527 0,269,763,68,539 Expenditure Category Summary Personnel,490,626,529,765 Interfund 260,69 995,496 M & O 6,2,567 7,038,620 Capital 28, ,000 FY 200,682,678,755, , ,09 7,233,997 8,53,896 Total Expenditures 8,80,884 9,786,880 9,470,3 0,84,48 Total Reserves 3,04,000 5,554, , ,058 Total,22,884 5,34,527 0,269,763,68,539 Funding Summary General Fund,97,802 2,034,969 Land Purchase Revolving Fund 730, ,000 Operating Grants/Donations/Sp Reserves Fund 238, ,409 Interest & Debt RedemptionRegular Fund 5,754,082 2,45,49 LID Control Fund 0,000 General CIP Fund 2,48, ,000 FY 200 2,20,2 2,328,066 25,370 29,75 7,589,272 8,869, , ,000 Total Resources,22,884 5,34,527 0,269,763,68,539 FTE Summary Business Systems Director's Office Investments/Debt FY Total FTE

9 Biennial Financial Planning 79 Key Departmental Metrics Unit of Measure Ensure the City's longterm financial stability & health Yearend expense variance from 2nd quarter report. Yearend revenue variance from 2nd quarter report Return on City investments exceed standards Type of Indicator Actual FY 200 Effectiveness Effectiveness Effectiveness Protect the City's financial integrity and credibility Earn biennial GFOA Distinguished Yes=,No=2 Award Effectiveness City Bond Rating (Moody's) =Aaa Effectiveness Issues related to Department Performance The Office works closely with departments in projecting revenues. With careful attention to the economy and a good understanding of economic indicators, revenue collections were within 0.8 of the projections made in the 2nd Quarter Monitoring Report. This was well within our goal of 2. The Office also works closely with departments to project year end expenditures. Expenditure projections stated in the 2nd Quarter Monitoring Report varied 0.5 from actual year end expenditures. This was well within our target goal of. The City again was awarded the GFOA Distinguished Award. This entails a comprehensive review of the City s budget documents and provides a good indicator that the City s budgeting process is providing outstanding guidance to City leadership in managing Bellevue s business. For 2007, Bellevue s investments exceeded the average yield of 90day Treasury Bills by 0.6, equivalent to an additional $344,000 of revenue. Actively managing our investments allows us to obtain a fair rate of return while protecting the City s capital and assuring adequate liquidity. Program Notes staff continue to enhance the quality of the City's budget process. Some examples include improved links to outcome and performance budgeting, more indepth analyses, and heightened scrutiny of City budgets

10 70 Biennial ed Cost Summary Biennial Change Financial Planning 7,967,763 20,3,62 3 Financial Operations 0,093,34,749,557 6 Base 28,06,077 32,06,69 4 Reserves 5,554, ,058 (85) JDE Ongoing Staffing 203,862 Tax Analyst 42,224 Program Enhancements 346,086 Total 33,65,724 33,247,33 () Biennial Expenditure Category Summary Change Personnel 0,27,20,654,554 5 Interfund,234,58,509, M & O 6,258,349 9,243,349 8 Capital 44,000 Total Expenditures 28,06,077 32,407,255 5 Total Reserves 5,554, ,058 (85) Total 33,65,724 33,247,33 () Biennial Funding Summary Change General Fund 4,00,084 6,429,968 7 Land Purchase Revolving Fund 730,000 Operating Grants/Donations/Sp Reserves Fund 446, ,545 (3) Interest & Debt RedemptionRegular Fund 7,898,23 5,658,938 (3) General CIP Fund 44, , Total Resources 33,65,724 33,247,33 ()