Finance
Department Purpose
The Finance department (the "department") is delegated the responsibilities of maintaining the financial records of the Village, collecting all revenues due the Village, assuring all debts are promptly satisfied, safeguarding of assets and generally providing financial information and support to all Village departments. The department also ensures the Village's fiscal resources are utilized in a manner consistent with the intentions of the Village President and Board of Trustees.
To fulfill these responsibilities, the department is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the Village are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. Said statements are issued in the form of the Village's Comprehensive Annual Financial Report For Fiscal Year 2008 (CAFR). The full report is also available at the Village Hall or the Bloomingdale Public Library. The CAFR details the Village's financial activity and position, which is audited by an independent firm of Certified Public Accountants. The report is the culmination of the Village's fiscal year financial activity and the formal mechanism used to communicate and demonstrate compliance with the intentions of the President, Board of Trustees and applicable laws. (The information in the CAFR has not been updated for developments subsequent to the date of the independent auditor's report.)
Additionally, the department is instrumental in the compilation of the Village's Annual Budget which is available for review from this link - FY2009 Budget. The Budget establishes management's fiscal plan for the year and is the control tool employed and referenced throughout the year by Village staff. The services, programs, revenues and expenses contained in the Budget reflect the methods and use of resources through which staff intends to accomplish the goals and objectives of the President and Board of Trustees.
Department Organization
In an effort to achieve the department's purpose, a multitude of operational activities occurs each day. The activity is generated by ten employment positions serving in varying capacities. The structure of these positions is illustrated on the Organization Chart. Each position has its primary responsibilities as noted below:
1. The Finance Director/Treasurer directs and supervises the overall activities of the department. In addition, responsibilities include the investment of idle funds, compilation of the CAFR, support in the budget preparation process, development of the tax levy, debt administration and other administrative functions and duties as required.
2. The Executive Secretary provides support to the Finance Director/Treasurer and to other department personnel on an as-needed basis.
3. The Assistant Finance Director is responsible for the supervision of six Fiscal Assistants and an Accountant. In addition, this position provides administrative, accounting and financial reporting support to the Finance Director/Treasurer.
4. The Financial Systems Coordinator provides primary computer support for the Village's Unix applications and second level support for departmental issues related to software applications and Windows 2000/XP network matters. This position also provides support to the Finance Director.
5. An Accountant provides professional skills to the financial reporting and maintenance of the Village's financial records, including capital assets. Additionally, accounts receivable invoicing and utility billing support is provided by this position.
6. Accounts Payable is responsible for calculating, verifying, posting and balancing of a variety of purchasing activity related to the payment for goods and services used in the operations of the Village. The Village offers the convenience of paying vendors electronically with deposits directly to a checking or savings account. If you're a vendor a and want to enroll, complete an Accounts Payable ACH Program Application and send it to the Village of Bloomingdale Finance department.
7. Payroll is responsible for calculating, verifying, posting and balancing of a variety of financial transactions relating to that specific function. This includes data entry of hours worked through and including the processing of all related withholding remittances. This position also provides clerical support to the personnel activities of the Administration department.
8. Utility Billing is responsible for calculating, verifying, posting and balancing of a variety of financial transactions relating to that specific function. This includes all aspects involved in the preparation of bimonthly residential and monthly commercial water and sewer bills. The Village offers the convenience of paying your Utility Bill by electronic withdrawal directly from your checking or savings account. To enroll, complete an Electronic Utility Bill Payment Application and send it to the Village of Bloomingdale Finance department.
9. Receptionists/Cashiers are often the first contact the public has with the Village and accordingly, a high degree of customer relations ability is essential. Additionally, each is responsible for clerical and bookkeeping activities and providing support to the Accounts Payable function.
While each position has its essential duties and responsibilities, cross training is conducted in order to provide support to other functional areas on an as-needed basis.