Finance

Finance


Mission & Responsibilities
The mission of the Finance Department is to safeguard the City's finances and to assure compliance in the submittal of timely financial information, plus the efficient management of goods and services via standardized procurement practices.

The Finance Department is responsible for the accounting, finance, and budget functions for the City. During fiscal year 2018 the department consisted of eighteen full-time employees.
 

Major Projects

One of the major projects that the accounting and finance division is involved with every year is the preparation of the Comprehensive Annual Financial Report (CAFR) and the Single Audit Report. The Government Finance Officers Association (GFOA) awarded the Certificate of Achievement in Excellence in Financial Reporting to the City of Brownsville for its comprehensive annual financial report for the fiscal year ended September 30, 2017. This was the 42nd consecutive year that the City has received this prestigious award. In order to be awarded a Certificate of Achievement, the City must publish an easily readable and efficiently organized Comprehensive Annual Financial Report. This report has satisfied both generally accepted accounting principles and applicable legal requirements. Because of the hands-on approach this office takes toward these two reports, the City has paid lower fees to outside auditing firms. 

Audits


City staff assists external auditors with preparation of audit schedules and provides year-end complete financial statements. Staff also completes all the financial schedules of the Single Audit Report.

The Single Audit Report consists of all state and federal grants the City receives during the fiscal year. During fiscal year 2017, the City spent $9,991,692 in federal funds and $1,412,084 in state funds.

Financial Efficiency

The Finance Department seeks to optimize staff while implementing sound fiscal strategies, a task that goes well beyond simply balancing the City's checkbook.

As such, the department offered the subsequent priorities: to continue to provide current financial information to all city departments, City Commission, bond rating agencies, bond insurance companies, and general public on a timely basis; to continue to invest the City's idle cash making sure that all investments are in compliance with the latest approved investment policy and investment strategy statement; and the preparation of the City's annual budget document.