FINANCE DEPARTMENT

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FINANCE DEPARTMENT

• Accountability Trust
• Vista Citizens Leadership Academy
• Fall 2008
• Thomas Gardner Director
• Dale Nielsen Finance Manager

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Financial Services and Support

• All City departments
• Other public agencies
• The general public
• Users of financial information

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Department Structure

• Director of Finance/City Treasurer
• 4 Management Positions
• 11 Staff Positions

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Balanced Long-Term Financial Planning

• Two-year Operating Budget process
• Six-year fiscal planning horizon (in development)
  projections will be updated annually
• Five-year Capital Improvement Plan Budget updated
  biannually
• Debt policy and procedures
• Investment policy

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City Budget

• Vista adopts a 2-year operating budget
• General Fund 07-08. 68,044,358
• General Fund 08-09. 68,649,273

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City Budget by Funds
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General Fund By Function
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General Fund by Type
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General Fund Revenues
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General Fund Tax Revenues
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City Budget

• Other Funds
• Special Revenue Funds
• Gas, Redevelopment or Assessments Internal
  Service Funds
• Risk /Insurance, Technology or Fleet
• Capital
• Development fees or Grants

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City Banking Services

• Checking accounts
• Payroll direct deposit

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Debt Administration

• Redevelopment bond issues
• Financing Authority bond issues
• Certificates of Participation
• No General Obligation bonds

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Citys Accounting

• Pay the Citys bills
• 600 to 800 to vendors every two weeks
• Account for all expenses, revenues and debt
• Prepares and files all state reports
• Annually reviewed by outside auditors

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Sewer Service Billing

• Vista and Buena Sanitation Districts
• 22,000 active sewer accounts
• 13.6 million in operating expenses
• Prepare annual tax bill data to County Tax
  Collector

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City Treasurer

• Investment portfolio 130 million
• Earnings more than 5.6 million

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Investment Policy

• Focuses On
• Safety
• Liquidity
• Yield

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Return Of Our Principal more than The Return
On Our Principal

• Cities may not invest in
• Real estate
• Equities (stocks, mutual funds)
• Long-term investments

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Assessment Districts Billing

• Lighting and Landscaping Districts
• Street Maintenance District
• Community Facilities Districts
• Business Improvement District

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Business Licenses

• 8,000 active business
• Processes new issues and renewals

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Financial Reporting Awards

• Government Finance Officers Association - 20
  Years
• California Society of Municipal Finance Officers
  - 16 Years

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• Questions???