1. City Controller’s Office 2015 / 2016 Budget Presentation

2. 2 Presentation Agenda Overview 3 Mission Statement Our Core Services Goals and focus – 2015/2016 4 11 12 Expenditures Trend 13 2015/2016 Budget

3. To maintain a reliable, transparent, and accurate financial information system that provides timely financial information and services to the city management, city council, outside agencies and the community. Mission Statement

4. 4 Our Core Services Financial Reporting Payroll services Accounts Payable Processing General Ledger and Accounting Data Support Financial Records Integrity

5. Financial Reporting Financial data to: - Grant Agencies, IRS, Auditors, State, LA County. Provides monthly Financial Report. Prepares and monitors cash flow trend. Monitors Revenues and Expenditures.

6. Payroll Services Processes bi-weekly /semimonthly payroll Reconciles Payroll Taxes and Deductions CalPERS returns and monitoring Tax returns and IRS

7. Accounts Payable Processes checks requested by departments 1,230 checks per month (14,760 per year) for vendors 718 landlord checks per month (8,616 per year) Reports to IRS Maintains database for 12,596 vendors IRS Audit

8. General Ledger Posts necessary Journal Entries. Reconciles City’s 42 bank accounts each month. Reconciles the City’s bonds accounts.

9. Data Support Financial information to departments to monitor their expenditures. Data for processing Grant Reimbursement. Valuable support to city management for yearly budget preparation.

10. Financial Data Integrity Numerous audits performed by: - State Controller’s Auditors - LA County Auditors - Independent City-wide Auditors - AQMD Auditors - IRS Financial data review on a continuous basis.

11. Goals and Focus - 2015/2016 Update financial policies and procedures. Be current with City-wide Audit. Complete upgrade of antiquated Financial Information System.

12. Expenditures Trend Actual Expenditures Number of Employees 18 FTE 17 FTE 15 FTE $2.20M 2010 2011 2012 $2.11M $1.89M $1.75M 14 FTE 2013 2014 14 FTE $1.95M

13. 2015/2016 Budget Personnel Cost Operations & MaintenanceTotal Budget FY 14/15 $1.38m FY 15/16 $1.98m FY 15/16 $0.47m FY 14/15 $0.66m FY 14/15 $2.04m FY 15/16 $2.45m

14. Thank you.