For City Council Meeting April 9, 2024
TO: Honorable Mayor and City Council
FROM: David N. Carmany, City Manager
AUTHOR: Tanya Williams, Assistant City Manager
Title
Consideration of Update Regarding the City of Rialto Finance Department.
RECOMMENDATION
Staff recommends that the City Council:
1) Approve the proposed annual budget calendar for the 2024-2025 fiscal year, and
2) Approve the Fiscal Year 2024-25 budget community goals.
Body
BACKGROUND
The Finance Department of the City of Rialto plays a pivotal role in managing the city's financial resources and supporting the delivery of essential services to our community. The department's major functions encompass a wide range of responsibilities, including budgeting, accounting, financial reporting, tax administration, debt management, investment management, grants and funding management, financial planning and analysis, procurement, compliance and auditing, customer service, technology and systems management, policy development, and interdepartmental coordination. Given the significance of these functions, this report is intended to provide an update to the City Council on the operation of the Finance Department and its activities.
Update on Finance Department Operations:
The Finance Department has been diligently executing its responsibilities across the various functions outlined above. From budget preparation to financial reporting and compliance activities, the department has been proactive in ensuring fiscal responsibility and transparency in all financial matters. The Finance Department will continue to work closely with the City Council, all city departments, and external stakeholders to effectively manage the city's financial resources and support the achievement of our strategic objectives.
ANALYSIS/DISCUSSION
One of the key priorities for the finance department is the adoption of the Fiscal Year 2024-2025 budget. Approval of a budget calendar will establish a structured and transparent proces...
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