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Financial Reporting Section 2310.1
Policies and Procedures Manual Page 1
2310.1 SUBJECT: ORGANIZATION AND POLICY – FINANCIAL
REPORTING
:1 OBJECTIVE:
To detail the role of the Chief Financial Officer in the collection, recording, and
reporting of financial information.
:2 AUTHORITY:
This policy amended by City Council April 11, 2011.
:3 DIRECTION:
The Chief Financial Officer, as an appointed official, serves at the pleasure of, and
receives direction from the Mayor.
:4 FUNCTIONS:
A. Introduction
City government, as an institution, has multiple partners including
citizens, taxpayers, businesses, visitors, employees, and other
governments. As a major institutional, economic, and service force in the
region, it is important that the City strengthen relationships with its
partners by adopting a clear and comprehensive set of policies and
procedures.
Furthermore the integrity of the City of Orlando is of utmost importance,
and adopting a set of policies is a key element to maintain this integrity.
The purpose of this policy is to detail the responsibilities of the Chief
Financial Officer in collecting, recording, and reporting financial
information.
B. The Financial Reporting Section is responsible for:
1. The design, enhancement, revision, and administration of a general
accounting system for all City operations that provides for the safe-
guarding of assets and management of financial information for
(a) financial monitoring and reporting purposes,
(b) measurement of management stewardship, and
(c) demonstration of compliance with finance-related legal
and contractual requirements.
Office of Business and Financial Services
Financial Reporting Section 2310.1
Policies and Procedures Manual Page 2
2. Oversight of the development of internal financial reports as
required or requested by Department Directors, the Chief
Administrative Officer, and the Mayor.
3. Accounting and reporting of City debt transactions in compliance
with bond covenants requirements.
4. Preparation of the annual Schedule of Expenditures of Federal
Awards and State Financial Assistance.
5. Distribution of periodic financial reports to Department Directors,
Office Heads and Division Managers to facilitate the continuing
measurement of the financial impact of managerial decisions
already made and to provide an information base for future
economic decisions and alternatives.
6. Preparation of annual financial statements in compliance with
Florida Statutes and Rules of the Auditor General.
7. Maintenance of accurate financial records for property, plant, and
equipment owned or controlled by the City.
:5 FORMS:
None.
:6 COMMITTEE RESPONSIBILITIES:
None.
:7 REFERENCE:
Section 11.45 (3)(a)3., Florida Statutes, as amended by Chapter 86-204, Laws of
Florida; Section 218.32(1)(b) Florida Statutes; amended June 14, 1993, Item 4-Q;
amended October 3, 1994, Item 3-S; amended September 15, 2003; amended July
23, 2007, Item A-4; amended
:8 EFFECTIVE DATE:
This procedure effective April 11, 2011.