City of Lodi Finance Department

The City of Lodi Finance Department is responsible for managing the financial resources of the city. Its primary goal is to ensure the financial stability and sustainability of the City of Lodi while providing reliable and transparent financial services to its residents, businesses, and other stakeholders.

The department's key functions include budgeting, accounting, financial reporting, treasury management, purchasing, and risk management. These functions are crucial for effective governance and resource allocation within the city.

Key Responsibilities

• Budgeting: The Finance Department plays a vital role in preparing and managing the City's annual budget. This includes working with various departments to develop budget proposals, analyzing revenue projections, and ensuring that the budget aligns with the City Council's strategic priorities. They monitor budget performance throughout the year and make adjustments as needed.
• Accounting & Financial Reporting: Maintaining accurate and complete financial records is a core function. This involves recording all financial transactions, preparing financial statements in accordance with Generally Accepted Accounting Principles (GAAP), and ensuring compliance with all applicable laws and regulations. The department also oversees the annual audit process, ensuring transparency and accountability.
• Treasury Management: Managing the City's cash and investments is another critical responsibility. The Finance Department strives to maximize investment returns while adhering to strict guidelines for security and liquidity. They monitor cash flow, manage debt, and oversee banking relationships.
• Purchasing: The department oversees the City's procurement process, ensuring that goods and services are acquired efficiently and economically. This involves developing and enforcing purchasing policies, soliciting bids and proposals, and negotiating contracts. The goal is to obtain the best value for the City while promoting fair and open competition.
• Risk Management: Identifying and mitigating financial risks is an increasingly important function. The Finance Department works to protect the City's assets and minimize potential liabilities through insurance coverage, internal controls, and risk assessments.

Transparency and Accessibility

The City of Lodi Finance Department is committed to transparency and accessibility. They make financial information available to the public through various channels, including the City's website and public meetings. They strive to provide clear and understandable financial reports that inform residents about how their tax dollars are being used.

Contact Information

For specific inquiries or to learn more about the City of Lodi Finance Department, please visit the City's official website or contact the department directly via phone or email.