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Department of Finance (FIN)

FIN At A Glance

FIN Mission Statement

What the Department Does and for Whom
  • The mission of the Department of Finance is to prudently manage financial operations, recommend and implement sound fiscal policies, safeguard public assets, and encourage a safe environment on public property.
How Much? How Many?
  • FY16 Budget: $74,203,366 ($13,712,942 General Fund, $60,490,424 Self-Insurance Fund)
  • FY16 Full-Time Equivalents (FTEs): 125.93

Sound Financial Management

What the Department Does and for Whom

POLICY

  • Develop and promulgate fiscal policies; advise departments, the County Executive, and County Council on a wide range of fiscal matters
  • Provide regular financial reports and revenue and economic updates

DEBT

  • Maintain the County’s AAA General Obligation (GO) bond rating
  • Obtain the most advantageous market rates for all County debt issues
  • Identify and implement debt refunding opportunities

TRANSACTIONS

  • Manage the County’s revenues, expenditures, assets, investments, and outstanding debt
  • Provide regular financial reports including the Comprehensive Annual Financial Report (CAFR)
  • Actively manage the County’s working capital accounts & short term investments
How Much? How Many?
  • Managed over $2.8 billion in direct long term debt and $500M in commercial paper
  • Issued $295M in new GO debt, $4.2M in Quality Energy Conservation Bonds, $46.5M in DLC Revenue Bonds, and $38M in Taxable Certificates.
  • Refunded $27.7M in GO Debt, $9.7M in Revenue Authority Debt, and $13.6M in Development District Debt
  • Produced Refunding Debt Savings of $3.6M in GO Debt, $728K in Revenue Authority Debt, and $3M in Development District Debt
  • Produced CAFR, Report on Expenditures of Federal Awards, and Annual Info Statement
  • Received the FY13 GFOA certificate for the CAFR
  • Managed over $1 billion in average daily cash balance in bank accounts & investments

 

Customer Service

What the Department Does and for Whom
  • Provide services to external and internal customers such as taxpayers, vendors, and employees through processing payments and receivables, answering customer inquiries and providing proactive communications to the Public and within the Government.
How Much? How Many?
  • Billed 366,847 property tax accounts, collected over $1.5 billion in property tax revenue
  • Responded to and closed 3,985 MC311 Service Requests
  • Processed 55,514 transfer office transactions; 35,730 cashier transactions; 129,973 vendor payments; 257,717 paychecks to active employees; 65,000 payments to retirees; mail 30,588 delinquency notices

Promote a Safe and Healthy Work Environment

What the Department Does and for Whom
  • Ensure the safety of our employees, volunteers, and visitors through the promotion of a safe and healthy work environment for County employees.
How Much? How Many?
    • Conducted 93 training classes
    • Responded to and close 782 MC311 claims
    • Reviewed 7,460 contracts for adequate insurance coverage