The primary role of the Finance Department is safeguarding the City assets, both the financial and physical assets of the City. The department encompasses all accounting, financing, budgetary, debt, pension and treasury activities within the City. Finance is ultimately responsible for ensuring that all accounting transactions are properly recorded and maintains all official accounting records. Finance is also responsible for financial internal control procedures and regulatory compliance with all Federal, State, County and City requirements. The Finance Department also oversees the Utility Billing Division.
The Accounting function within the Finance Department includes accounts payable, account receivables, payroll, cash receipts, cash disbursements, debt management, investment activities and pension administration. Activities include review of financial statements, reconciliation of bank statements, and financial reporting. The Department is ultimately responsible for ensuring that all accounting transactions are properly recorded and maintains all official accounting reports. The City of Tarpon Springs has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officer’s Association United States and Canada for its comprehensive annual financial report (CAFR) annually for over 25 years. View the City’s latest Comprehensive Annual Financial Reports in our Document Library. Link to the State of Florida Local Government Financial Reporting website.
The Budget function within the Finance Department includes the preparation and presentation of the City’s Annual Operating and Capital Improvement Budget. This includes managing and coordinating all aspects of the budget process. The department assures the City’s compliance with the State of Florida’s “Truth-In-Millage” (TRIM) act. TRIM establishes the statutory requirements that all taxing authorities levying a millage must follow, including all notices and budget hearing requirements. This ensures taxpayer awareness of the proposed millage changes, the proposed budget changes and the percent of any change in the millage rate. The City of Tarpon Springs has received the Distinguished Budget Presentation Award from the Government Finance Officer’s Association of the United States and Canada for its annual budget annually for over fifteen years. Visit our Document Library to view our most recent budget documents.