Financial Management

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Mission

Safeguard the City and Redevelopment Agency’s Financial and Material Assets by maintaining strong internal controls, ensuring equity and transparency, adhering to established financial policies and procedures and complying with legal fiscal reporting requirements.

Customers

The Citizens of Millbrae, City Council, City Manager, and all City Departments and Employees.

Services

Financial Management performs the following Services: Financial and System Accounting Administration; Budget Development and Budget Monitoring; Comprehensive Financial Reporting and Analysis; Management and Reconciliation of the General Ledger, Chart of Accounts, Fixed Assets, Bank and Investment Accounts; Accounts Payable; Accounts Receivable; Business License Billing; Revenue Collection; Payroll and Employee Benefits; and provides Revenue Estimates and Fund Balance Projections. In addition, provides weekly Cash Balance Analysis for investment of excess Funds by the City Treasurer.

Division Products

  • Financial Reports
  • Annual Audit
  • Comprehensive Annual Financial Report (CAFR)
  • State Controller’s Annual Financial Transactions Report and the Annual Street Report
  • SB90 State Reimbursement Claims
  • Statement of Indebtedness
  • Cash and Fund Balance Information and Reporting
  • Midyear and Mid-term Budget Review and Reporting
  • W-2’ and 1099’s
  • Payroll Tax Reporting
  • New Hire Packet of Information
  • Development and Publishing of the Biannual Budget

Division Services

  • Financial Monitoring, Reconciliation, and Reporting of Fiscal Condition
  • Bank Reconciliations
  • Electronic Fund Transfers
  • Financial System Data Base Maintenance
  • Issue Business Licenses including Annual Renewals
  • Revenue Collection and Processing
  • Vendor Payment Processing
  • Accounts Receivable Billing
  • Fixed Assets Maintenance
  • Payroll Data Base Maintenance
  • Payroll Processing
  • Management of Employee Benefits
  • Salary and Benefit Assistance to Employees
  • Fiscal Year-end Closing Coordination