FINANCE DEPARTMENT

Douglas Stansil

OPERATING AUTHORITY AND PURPOSE

The Finance Department assists the County Executive in preparing the annual Executive Budget document, monitors and controls the day-to-day financial operation of the County to ascertain compliance with policies and authorized levels of appropriation, analyzes the potential fiscal impact of County policy initiatives under consideration, and determines the probable impact of both adopted and proposed Federal and State legislation, regulations, and administrative codes.

Finance staff inform the County Board, its Finance Committee, and other appropriate committees in matters concerning the current financial condition of the County and its various divisions, departments, and programs, prepare fiscal notes for all proposed legislation and contracts, and review bills prior to recommending them for payment or other action by the Finance Committee.

Finance Department staff assist Racine County's auditors in preparing the annual audit and provide directions and policy coordination to all other County accounting personnel. The Finance Director advises the County Executive, County Board, and Finance Committee regarding appropriate changes in accounting policies and procedures.

The Finance Department keeps the general books of accounts and is responsible for the payroll system.

The Finance Director acts as the County Auditor.

 

ACHIEVEMENT OF PERFORMANCE GOALS

One goal of the Finance Department for 2001 was to implement on-line requisitions in the purchasing system. While not yet complete, we have continued the process of moving departments to on-line requisitions.

A second goal for this year was to implement on-line contracts. We have now started an on-line tracking/
accounting system for contracts.

Although not stated as a goal for 2001, the department worked with the Treasurer's office and Information System Department to implement direct deposit of paychecks to any financial institution for County employees.

2002 GOALS AND BUDGET STRATEGIES

•  Continue to develop new reports on the JD Edwards financial system that can be used to report directly to the state agencies as required.
   
•  Complete two internal audits of selected County departments.
   
•  Continue to increase the number of County departments using on-line requisitions.
   
•  Complete the on-line contracts process.
   
•  The Governmental Accounting Standards Board has issued GASB #34, which is a major revision of current accounting practices. The County will be required to implement this standard for the fiscal year of 2002. A team of our financial personnel has already started to analyze and plan for this major change in our financial reporting. This is a multi-year project.