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Budget Study Session FY 2011-12. Finance Department May 25, 2011. Finance Introduction. Finance Department Overview. Mission Statement
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Budget Study SessionFY 2011-12 Finance Department May 25, 2011
FinanceDepartment Overview • Mission Statement • With excellence, integrity and dedication, the Finance Department is committed to providing timely, accurate, clear and concise information to the City Council, City Manager, City Departments and the Citizens of Glendale. • As financial stewards of the City, the Finance Department is dedicated to managing the City’s resources in a fiscally conservative manner while maintaining an exemplary level of customer service.
Finance DepartmentOrganization Chart Director of Finance 1.0 FTE Admin 3.30 FTE Purchasing 6.0 FTE Budget 5.75 FTE Accounting 8.80 FTE Risk Mgmt 3.0 FTE Accts Payable 3.50 FTE Payroll 5.24 FTE Total FTE’s: 36.59
Finance DepartmentFund Summary • General Fund • Liability Insurance Fund (Internal Service Fund)
General Fund Finance Department
Finance DepartmentGeneral Fund Overview • Core Services • Accounting Services • Accounting • Accounts Payable • Accounts Receivable • Budget and Revenues • Payroll and Benefits • Risk Management-Liability • Live Scan (Fingerprinting)
Total budget reductions of $446,000 Eliminated Asst. Director Position via Reorganization Downgraded an Administrator to a Manager Eliminated two vacant positions Reduced hourly wages & eliminated temporary staffing Reduced contractual services budget Eliminated budget for Budget Summary Book Moved one filled position to the Liability Insurance ISF and eliminated a vacant position in that fund Closed Enterprise Services in Old Police Bldg and moved LiveScan to Finance Lobby Finance Department ReductionsSince FY 2007-08
Finance DepartmentPerformance Statistics 2010-11 • Produced a GFOA and CSMFO award winning Budget and CAFR • Processed 54,700 paychecks/deposits • Processed 107,000 accounts payable invoices • Issued over 1,200 purchase orders & contracts • Processed over 406,000 journal line transactions for 78 funds.
Finance DepartmentProfessional Services Financial Services Bartel and Associates-Actuarial Services -$35,000 Capital Accounting Partners-Cost Allocation - $20,000 AON-Insurance Broker - $85,000 ArmTech-Insurance Actuary - $3,250 Annual Audit McGladrey and Pullen, CPAs - $ 52,000 Revenue Management HdL & Assoc - Sales Tax Mgmt - $ 4,500 + Audits HdL Coren & Cone-Prop Tax Mgmt- $11,250 +Audits Mgt America-SB 90 Claims - $ 20,000 Willdan Financial-Fee Study (One Time) - $34,000 MuniServices/Don Maynor-UUT Mgmt - $46,000 12
Finance DepartmentGeneral Fund – Reduction Impact • Staff Reductions • Reduction would result in layoff of 1 full-time filled position • Service Level Impact • Fewer Employees to perform the Accounting, Budget, Payroll, Purchasing, and Accounts Payable functions • Service to City departments and vendors would be reduced
Internal Service FundsOverview • The Internal Service Funds are proprietary type funds, serving only the City of Glendale. • These funds provide services to other City departments and charge for services rendered, similar to Enterprise Funds. • Intended to be self-supporting. • ISF Funds with Deficits: Amortizing losses over 6 years to comply with Auditors Management Letter comment.
Internal Service Funds • Examples of rates charged by various Internal Service Funds: • Workers Compensation, Vacation, and RHSP rates are based on are a percentage of payroll • Medical, Dental, and Vision Fund charges are based off premiums negotiated by Keenan, the City’s broker • Information Services rates are a composite rate that consists of salaries, overhead, and equipment replacement and are spread on items such as number of users and equipment counts • The Fleetrate charge consists of the salaries, maintenance & operation costs, overhead, and capital replacement • While ISF’s pay for these costs directly, the costs are eventually charged back to departments via the particular ISF rate charge
Liability Insurance Fund Finance Department
Finance DepartmentLiability Insurance Fund (612) • Core Services • Partnership w/ City Attorney’s office to: • Mitigate and manage the City’s exposure to risk using insurance policies and contractual agreements with vendors and service providers • Manage and develop new risk management liability system (IVOS) to track claims and litigation expenses • Insurance procurement • General Liability, Employment Practices, Property & Boiler, Aviation, Excess Workers’ Compensation, Builder Risk Insurance, and Special Events
Finance DepartmentLiability Insurance Fund (612) • Challenges & Future Outlook • Rising claims and litigation cases against the City • Rising costs of litigation • Rising insurance premiums due • Increase in State and Federal legislation • Looking at alternative ways to mitigate costs
Finance Department • Questions and Comments
