:: City of Watertown, MN :: Departments

Finance

The Finance Director of the City of Watertown serves as the Finance department head with overall daily responsibility for managing the City finances. The Finance Director also performs supervisory and professional work regarding finances and investments; prepares financial reports and statements; oversees accounts payable, accounts receivable, payroll, and utility billing, oversees reporting and record keeping, initiates and coordinates budgeting process; secures appropriate insurance coverage; and performs related duties as required. The Finance Director also serves as Clerk Treasurer.

Typical Duties Performed

Plans, organizes, and oversees Finance Department operations and procedures to ensure goals are met.

Supervises and provides technical direction and oversight to Finance Department staff including training, assigning and reviewing work, conducting performance evaluations.

Reviews departmental operations and develops short and long-term goals.

Develops, prepares, and maintains City financial records in conformance with generally accepted accounting principals and standards.

Establishes procedures and formats used for various monthly reports showing the financial condition of the City and budgetary balances.

Prepares monthly and other interim financial reports and statements as necessary or as directed by the City Council or City Administrator.

Assists City Administrator in the preparation of the annual city budget including preparing draft with department head assistance, presenting to City Council, and adjusting as directed by the Council.

Prepares and files required certifications on budget with the State Auditor's office and ensures records are published in accordance with legal requirements.

Establishes internal control procedures to ensure transactions are authorized and accurately recorded.

Establishes and maintains procedures for processing payroll, accounts payable, utility billing, accounts receivable, cash management, and personnel records as necessary to meet department requirements and state and federal standards and laws.

Oversees accounting work to ensure compliance with legal requirements, policies, and procedures.

Monitors the budget and confers as necessary with the Department Heads to assure adequate balances and recommends adjustments to the City Administrator.

Ensures that legal requirements are met to maximize the ability of the City to levy and collect taxes.

Prepares special assessment rolls according to assessment policy and as directed by the City Council to secure the collection of assessable costs.

Assists the public by answering questions regarding special assessments and affected property taxes.

Prepares annual certification list of special assessments for filing with the County Auditor.

Monitors the collection of taxes and assessments to assure the accuracy of receipts from the County; reconciles unpaid taxes and assessments and verifies with County records.

Ensures the City has adequate insurance coverage; assures that all assets of the City are covered with property insurance to protect against loss.

Assists employees with health and accident insurance problems and acts as a liaison between employees and insurance carrier.

Ensures that insurance binders are received as prescribed by contract or agreement with others.

Completes injury and incident reports; investigates as necessary by taking pictures and noting conditions at the site of the incident; works with the insurance agent, and City Attorney as needed.

Reconciles City checking account by fund, each month; calculates monthly interest earned; maintains record of City Council approved fund transfers; ensures funds are organized efficiently.

Assists in maintaining all data processing operations and all financial software and hardware.

Manages City investments according to State and City guidelines; researches and analyzes investment possibilities, determines cash available and length of each investment, invests and tracks funds and withdraws funds as needed.

Monitors cash flow to ensure sufficient cash is available to make necessary payments.

Oversees and participates in accounts receivable and payable functions; codes expenses and prepares vouchers for data entry.

Works with auditors at year-end.