Finance Director Edward Sell
The Finance Director, appointed by the Mayor and City Council, administers a department consisting of two divisions, accounting and information systems. The Director also acts as the City’s Risk Manager, and Treasurer to the Monroe Building Authority.
The Finance Department performs the functions of financial advisor and financial administrator in support of city operations. Specific duties include:
· budget preparation
· budget control
· maintenance and control of accounting records
· accounts payable
· payroll processing
· debt service
· fixed asset accounting
· investment of City monies (except pension funds)
· coordination of insurance coverage
· financial reporting
· coordination of the annual audit
· administration of information systems
The accounting division is responsible for the accuracy of the accounting systems including individual funds, grants and capital projects, payroll, and accounts payable and accounts receivable. Coordination of the budget and of the annual financial report preparation are included among Accounting’s responsibilities. Accounting also reviews all City Council meeting agenda items, with budgetary impact, for accuracy of accounting and availability of funding.
Accounts payable is responsible for processing requires reconciliation of invoices with receiving reports, data entry, filing of invoices and generation of an accounts payable listing for approval at each Council meeting.
Payroll processing includes time entry, production of payroll checks for employees and various boards, withholding and reporting of income taxes and other deductions and maintenance of individual earnings records. Payroll is also responsible for maintenance of employee leave records.
The Finance Department received the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for the Fiscal Years 2001 – 2012 Comprehensive Annual Financial Reports (CAFR).