50 Natoma Street, Folsom, CA 95630
Phone: 916-461-6080 | Fax: 916-985-0870
Hours: Monday-Friday: 8 a.m.-5 p.m.
|Contact the Finance Department|
|Information Systems Division||916-461-6910|
|Budget and Evaluation||916-461-6083|
|Muni Services, LLC||866-240-3665|
The Office of Management & Budget exists to provide residents, the City Council, the City Manager, city departments, and other interested parties with accurate, timely, and understandable financial information regarding the city's operations and services and to cost effectively perform the duties and responsibilities of the office and ensure compliance with various federal, state, and local policies, rules, and regulations.
The Office of Management & Budget is comprised of four divisions: Administration, Financial Services, Information Systems and Revenue.
The Finance Director/CFO directs the Office of Management & Budget, overseeing each of its divisions; serves as the city's treasurer as required by the CA State Government Code and the Folsom Municipal Code; is the primary advisor to the City Manager, City Council and Departments in the areas of city finance; and provides leadership in the development and implementation of city-wide financial policies.
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 the coordination of citizen surveys and evaluating departmental achievement of the city’s strategic plan.
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 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.
The treasury is responsible for cash management, investment portfolio, and debt and special assessment district management. The treasury division 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.
The Information Systems Division's mission is to create value for the public and improve efficiency through strategic investments in and utilization of technology. The division seeks to serve our residents by seeking out new technologies and opportunities that help provide more cost effective and transparent services.
The Revenue Division collects and records all city revenues including city service payments, business certificates, 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.