Finance DEPARTMENT

The Finance Department manages all the financial activities of the City of Ridgecrest. Under the direction of the Finance Director, the department provides efficient and dependable services to the following people or departments:

• Bondholders
• City Council
• City Departments
• City Employees
• City Manager
• General public
• Suppliers of goods and services

Services

The following are the major services the department provides:

Accounting Services

Finance maintains the city’s governmental accounting system to present accurately, and with full disclosure, the financial operations of the funds and account groups of the City in conformity with Generally Accepted Accounting Principles. These responsibilities include payroll and accounts payable processing on a biweekly basis and the administration of the bonded debt of the City and the Ridgecrest Redevelopment Agency.

Treasury / Cash Management

Finance collects money due to the City and safely keep all revenues coming in to the Treasury in compliance with laws governing the depositing and securing of public funds. Disbursements are only made on requests signed by legally designated persons. Finance also monitors business license, TOT and dog license regulations.

Budget Development

Finance plans, coordinates and prepares the City Budget for submission to City Council.

Financial Reporting

Finance monitors and analyzes the activities of the current fiscal year to project trends in both revenues and expenditures that will have an effect on future budgets and fund balance. This includes but not limited to the production of all the monthly, quarterly and annual financial reports that are submitted to the City Manager and City Council. These reports are the basis of the annual Annual Comprehensive Financial Report (ACFR). Other duties include preparing the documentations and coordinating the sale of bonds to fund capital projects.