Finance

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About Us 

The Finance Department’s primary function is to ensure the financial integrity of the City of Goleta by providing superior financial services, maintaining the public trust, and promoting governmental efficiency, effectiveness, and accountability. The department is responsible for the maintenance of an effective financial accounting system, which accurately reflects the financial operations of the City and offers a framework for financial planning and analysis. The Finance Department also oversees and handles the investment program for the City and is now functioning as the City’s purchasing department. The primary goal is providing accurate, reliable, and timely financial information for City CouncilCity ManagerCity staff, and outside requests using professional standards.

Accomplishments

  • Submitted the City’s Comprehensive Annual Financial Report (CAFR) to the Government Finance Officers Association (GFOA) by the deadline and received the Certificate of Achievement for Excellence in Financial Reporting for fiscal year ending June 30, 2017
  • Submitted all of the following required annual filings to the State Controller’s Office by the deadline: Single Audit Report, Street Report, State Compensation Report and the Cities Financial Transactions Report
  • Received an unmodified audit opinion for the independent audit
  • Fully integrated the preparation and management of the City’s special taxes for Measure L – Library Special Tax and Street Lighting Assessment into the Finance Department from City Manager’s Office
  • Implemented the Cannabis Business License program and developed a webpage in order to facilitate compliance, tax collection and general permit program information
  • Updated City’s Investment Policy, including enhancements to its benchmarks and allowable investments under state law
  • Assisted with settlement agreement amount with Department of Finance, related to the bond proceeds transfer with the former Goleta Redevelopment Agency (RDA)
  • Completed comprehensive fee study and analysis on management services for Buellton and Solvang library branches
  • Completed comprehensive fee study and analysis on user fee and charges for Cannabis Business License Program
  • Participated in Learn, Empower, Advocate, Discuss (LEAD) Goleta – Session 2 and provided overview of the Finance Department, the City’s budget, revenue sources, investments, expenditures and accounting
  • Received an updated Other Post-Employment Benefits (OPEB) Actuarial Report that is compliance with GASB 75
  • Issued RFP and awarded new auditing services contract for three years with an optional extension of two years
  • Assist with financing options for City Hall acquisition project
  • Developed initial financial procedures and processes for Goleta Library, including enhanced merchant services
  • Implemented Cal-Card program
  • Update Full-Cost Allocation Plan (CAP) and Comprehensive User Fee Study
  • Began financial systems upgrade process with Tyler Technologies, migration from Incode 8 to Incode 10, implementation begins July 2019
  • Issued RFP and awarded new banking services agreement for five-years
  • Enhanced financial reporting transparency by including a monthly investment transaction report as part of the monthly check register report to City Council

Operational Objectives: 

  • Submit the Comprehensive Annual Financial Reporting (CAFR) for fiscal year ending June 30, 2019 and June 30, 2020, to Government Finance Officers Association (GFOA) for participation in its Awards Program 
  • Submit the Two-Year Financial Plan and Annual Operating Budget for fiscal Year 2019/20 and 2020/21 to the GFOA’s Distinguished Budget Presentation Awards Program within ninety (90) days of legal adoption of the final operating and capital improvement budgets. 
  • Issue Business Licenses within 7 days of approval and provide timely renewal notices no later than 30 days before the current license expiration date
  • Review short-term vacation rental permit compliance to identify owner(s) that are operating in the City without a valid City permit
  • Promote timely and effective accounts payable operations
  • Promote timely and effective accounts receivable operations
  • Review and standardize citywide policies and procedures to increase understanding, compliance, and control by June 30, 2021
  • Pursue tax-exempt financing for City infrastructure projects as needed
  • Maximize investment returns in accordance with California Government Code and California Debt and Investment Commission best practices
  • Implement Transient Occupancy Tax (TOT) Audit Policy and Procedures and utilization of contract audit services
  • Investigate Short-Term Vacation Rental compliance options
  • Transition business license processing to permit tracking software
  • Initiate bond refunding related to the 2011 tax allocation bonds issued for the Goleta RDA Successor Agency and complete by June 30, 2020.
  • Implement procedures and process for ongoing evaluation of time tracking model for Library management services
  • Develop procedures to annually update the City’s Cost Allocation Plan
  • Implement GASB Statement No. 84 regarding the identification of fiduciary activities for accounting and financial reporting purposes starting with June 30, 2019 financial statements.
  • Explore implementing section 115 trust or changes to amortization schedule to address OPEB and Pension unfunded liability obligations

Strategic Objectives:

  • Update and implement the Cost Allocation Plan and Comprehensive User Fee Study 
  • Implement a Financial Software upgrade 
  • Explore opportunities to further address revenue neutrality agreement 
  • Develop a roadmap to address future pension and other post-employment benefit (OPEB) obligations 
  • Create a comprehensive 5-Year Financial Plan to further enhance the current 5-year budget forecast 
  • Investigate tools to increase presentation of financial information on City website 
  • Explore possible tax measure options to support the future sustainability of the City's budget 
  • Enhance City's investment program and implement an investment laddering strategy