The Finance Department oversees the City of Arvin’s financial planning and management activities. Duties include: budgeting and forecasting, reporting, compliance, and maintaining the value of City assets. Some of these responsibilities help the City meet compliance obligations while others contribute to profit-building.
The Finance Department handles planning, organizing, auditing, accounting for and controlling the City’s finances, managing investments and producing the city’s financial/treasury reports.
Finance also is in charge of maintaining fiscal records, which are computerized, and managing fiscal liabilities so that all projects are financed in an optimal way without taking on too much risk.
Financial controls for the City include reconciliations and dividing the responsibilities and following the GAAP standards of accounting principles. All of the work done in the Finance Department is implemented with view toward compliance, fraud and theft prevention. The role of the department is to ensure procedures are set up properly to manage that process without errors.
The Finance Department specific functions:
- Accounts Payable
- Accounts Receivable and Revenue Tracking
- Payroll and Payroll Tax and W-2 Reporting
- Reporting and Financial Systems.
- Risk Management on all property and general liability
- Treasury Management
- IT Services for the City