Loading...
HomeMy WebLinkAboutFinanceFinance Presenter: Robert Tintle, Chief Financial Officer ▪FY24-25 Proposed Budget Presentation Budget Committee Meeting | May 20, 2024 Finance Overview The Finance Department manages the financial activities of the County in accordance with generally accepted accounting standards, with prudence, integrity and transparency. Mission: 19.50 FTE Finance Overview (continued) Annual Budget Financial Planning Financial Forecasting ARPA Administration Financial Reporting Payroll Accounts Payable / Receivable General Ledger Capital Assets Cash Management Property Tax Collections Transient Room Tax Administration Dog Licensing Budget – 3 FTE Accounting – 7 FTE Tax Office – 6.5 FTE Finance Overview (continued) Procurement Processes/Resource Procurement Card Oregon Buys Tyler Purchasing Module Internal Audit Recommendations Investment Portfolio Property Tax Distribution General Banking/Merchant Services Community Engagement Direct Department Financial Health & Stability of County Cash Management Debt Management Tax Collector Room Tax Administrator Procurement – 1 FTE Treasurer – 1 FTE CFO – 1 FTE Finance Accomplishments •22nd consecutive year - Certificate of Achievement for Excellence in Financial Reporting •15th consecutive year - Distinguished Budget Presentation Award •4th consecutive year – •Popular Annual Financial Report Award •Triple Crown Designation Finance Accomplishments •FF&C Obligations, Series 2023 for Courthouse Expansion and 2013 Refunding •Increased TRT compliance and reporting, coordination with CDD •Increased online payments for dog licensing •Long-term financial forecasts FY 24-25 Finance Budget Details •M&S: audit contract, financial systems software (Tyler, NovaTime, Workiva, Debtbook, Gravity) •Revenue: ISF charges, Investment fees, Misc contracts FY 24-25 Tax Office Budget Details •State: CAFFA payments •Other: Tax warrant fees and tax foreclosure fees •ISF charges •Building rental •Postage, printing tax statements •Helion software FY 24-25 Finance Fiscal Issues •County: Long-term forecast for GF, TRT, Capital Reserve, and major funds •Maintain Aa1 rating •Tax: Ongoing CAFFA funding levels •Monitor delinquent taxes •County: Sustaining fiscal stability •Tax: CAFFA funding •Increased costs for software subscriptions and overall M&S Short-term Fiscal Issues Long-term Fiscal Issues Current Challenges and Future Initiatives •Administration of Transient Room Tax program and monitoring of revenues and expenses •Develop user friendly finance dashboards for public use •Foreclosure proceeds under Tyler v. Hennepin •Implementing new GASB financial reporting standards •Efficiencies in Enterprise ERP (Munis) system and other software •New timecard system Challenges Future Initiatives FY 24-25 Finance Special Requests Budget Officer included in FY25 Proposed Budget Funded by ISF charges to departments 1)PCI Compliance Consulting – Request per County Treasurer $30,000 for one-time costs 2)Add 1 FTE Payroll position ($132k, GF impact = @$27k) ▪Paid Leave Oregon ▪PERS reporting ▪Internal audit reports ▪Increased employees/pays Thank you