Accounting and Budgeting

About

The Finance Department is the city's central fiscal control and accounting agency and is responsible for the original entry of all City assets, liabilities, equities, receipts and expenditures of the City. Under the direction of the Finance Director, the department develops and maintains accounting systems for all financial transactions in conformity with the City Charter, State law and generally accepted accounting principles.

We prepare the City's annual budget, with the assistance of the City Manager and management staff which is adopted in May of each year. The financial condition of the City is monitored through budget amendments and forecasts. Internal management reports are generated to facilitate daily operations and decision-making. We coordinate with the City's external auditor to produce the City's annual financial statements.

The department's daily finance and accounting activities include accounts payable, accounts receivable, utility billing, risk management, monthly financial reports, investment, debt management and cash-flow management.

The state of Michigan requires annual reporting for CVTRS which provides a summary of the financial situation.  View this information on Munetrix by clicking here.