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City of Everett Finance Department

The City of Everett Finance Department is responsible for the financial health and stability of the city. It oversees a wide range of functions, ensuring responsible stewardship of public funds and providing critical financial services to residents, businesses, and other city departments.

Key Responsibilities

• Budgeting: The department develops and manages the city's annual budget, working collaboratively with all departments to align spending with strategic priorities and available resources. This involves forecasting revenues, analyzing expenditure requests, and presenting a balanced budget to the City Council for approval. Ongoing budget monitoring and adjustments are also crucial.
• Accounting and Financial Reporting: The Finance Department maintains accurate and transparent financial records for all city activities. This includes processing accounts payable and receivable, managing the general ledger, and preparing comprehensive financial reports in accordance with Generally Accepted Accounting Principles (GAAP). These reports provide insights into the city's financial position and performance.
• Treasury Management: The department manages the city's cash flow and investments to maximize returns while ensuring the safety and liquidity of funds. This includes investing in appropriate securities, managing banking relationships, and monitoring investment performance.
• Debt Management: The Finance Department oversees the city's debt portfolio, ensuring that debt financing is used responsibly and strategically. This includes issuing bonds, managing debt service payments, and monitoring debt levels to maintain a healthy credit rating.
• Payroll: The department processes payroll for all city employees, ensuring accurate and timely payment of wages, salaries, and benefits. This also includes compliance with all applicable tax laws and regulations.
• Purchasing and Procurement: The Finance Department establishes and enforces purchasing policies and procedures to ensure fair and competitive bidding, cost-effectiveness, and compliance with legal requirements. This includes managing contracts with vendors and suppliers.
• Revenue Collection: The department is responsible for collecting various city revenues, including property taxes, sales taxes, and fees for services. This involves accurate billing, efficient collection procedures, and effective enforcement of tax laws.

Transparency and Accountability

The City of Everett Finance Department is committed to transparency and accountability in its financial operations. The department makes financial information readily available to the public through online portals, financial reports, and public presentations. They strive to maintain the public's trust by adhering to the highest ethical standards and best practices in financial management.

Contact Information

For more information about the City of Everett Finance Department, including contact information and access to financial documents, please visit the city's official website.