James Francis

Finance Director/CFO

(916) 355-7347 Phone

(916) 985-0870 Fax

The Finance Department is comprised of four divisions: Finance Administration; Disbursements; Financial Services; and Revenue.

Finance Administration

The Finance Director/CFO directs the Finance Department and is the primary advisor to the City Manager, City Council and Departments in the areas of City Finance. The Finance Administration Division oversees all other Finance Divisions, and provides leadership in the development and implementation of city-wide financial policies. This Division also serves as the Office of the Treasurer as required by the CA State Government Code and the Folsom Municipal Code.

Disbursements

The Disbursements Division is responsible for all City disbursement transactions, including payroll and accounts payable, and for the maintenance of financial records. Division staff ensures that disbursement transactions are accounted and reported accurately and timely; and ensures that all such transactions are within City policy, laws, and other regulations. 

Financial Services

The Financial Services Division is comprised of three formerly separate divisions in the Finance Department:  Budget & Evaluation, Financial Analysis and Reporting, and Treasury. 

• Budget and Evaluation:  Budget and Evaluation is responsible for preparing the operating budget, five-year revenue and expenditure projections, and the capital improvement plan. It is also responsible for operational and organizational studies as identified by the City Manager, City Council, and department staff, as well as coordination of citizen surveys and evaluating departmental achievement of the City’s strategic plan.
  

• Financial Analysis and Reporting:  Financial Analysis and Reporting (FAR) prepares and maintains accurate and timely financial records reporting financial data of the City according to accounting principals generally accepted in the United States of America and the Pronouncements of the Government Accounting Standards Board (GASB). FAR is also responsible for audit compliance, miscellaneous analysis of City projects, grant reporting, and adherence to internal controls.

• Treasury: Treasury is responsible for cash management, investment portfolio, and debt and special assessment district management. Treasury also manages the City's banking and other financial services relationships. The cash management program includes timely deposit, investment and disbursement of funds. Portfolio management includes investing the City's funds in compliance with the City's Investment Policy. Debt management includes the issuance and ongoing administration of the City's debt instruments and the debt instruments of the special assessment districts.

Revenue

The Revenue Division collects and records all City revenues; including City Service payments, business licenses, sales taxes, property taxes, franchise fees, and transient occupancy taxes. The Division also provides customer service to the City's utility customers, including account set-up, billing, and account inquiries as well as collection on delinquent accounts receivable.

To maintain the City's high standard of financial excellence by providing the residents, City Council, City Manager, and City Departments with professional customer service through collection and disbursement of funds, financial reporting, and management of assets.