Finance Department

The Finance Department is responsible for providing financial management and accounting services for all city operations.  This includes maintaining accounting records, borrowing money to finance city expenditures, investing city funds, preparation of the city’s five-year capital improvement plan, audit and budget preparation, supervision of revenue collection and disbursements of city monies, payroll processing and financial reporting.

Budget

The city’s budget development process begins each spring, involving collaboration between the Finance Department, the Administrator, Department Heads, and the Council. Over a six-month period, a draft budget is created and refined before setting the maximum levy amounts in September. From September through December, the budget undergoes further review, with adjustments made as additional funding sources are identified. Throughout the process, multiple opportunities are provided for the public to review and offer input, ensuring their feedback is incorporated. Budget documents are made publicly available to promote transparency. In December, the Council finalizes the budget for the upcoming year. To view the most recent City Budget, visit the Budget Book or view within the Finance "Documents" tab.

Awards

The Government Finance Officers Association has awarded the Distinguished Budget Presentation Award to the City of St. Francis for its 2010 – 2024 budget document.

The Government Finance Officers Association has awarded the City of St. Francis the Certificate of Achievement for Excellence in Financial Reporting for 2011 – 2023 Financial Years.

Bond Rating

An independent bond rating agency, Standard & Poor’s has assigned the City of St. Francis an AA- Rating.  This rating was for the city’s general obligation bonds.