Evanston Finance Department: Stewards of the City’s Resources

The City of Evanston’s Finance Department plays a critical role in ensuring the city’s fiscal health and providing responsible stewardship of public funds. Its broad responsibilities encompass budgeting, accounting, revenue collection, debt management, risk management, and purchasing, all aimed at supporting the city’s operations and services for its residents.

At the heart of the department’s functions is the Budget and Management Services Division. This division is responsible for developing and monitoring the city’s annual budget, a crucial document that outlines revenue projections and allocates resources to various city departments and programs. The team analyzes financial data, forecasts future trends, and works with city departments to create a budget that aligns with the city’s strategic goals and priorities. They also provide ongoing budget monitoring, ensuring that spending stays within allocated limits and that any necessary adjustments are made throughout the fiscal year.

The Accounting Division maintains accurate and transparent financial records for the city. This includes managing accounts payable and receivable, processing payroll, preparing financial statements, and ensuring compliance with all relevant accounting standards and regulations. The team is also responsible for conducting internal audits to identify potential risks and improve financial controls.

Revenue collection is a key function handled by the Revenue Division, which oversees the collection of taxes, fees, and other revenues due to the city. This includes property taxes, sales taxes, utility taxes, and parking fees. The division strives to provide efficient and convenient payment options for residents and businesses while ensuring compliance with tax laws and regulations.

Managing the city’s debt is the purview of the Debt Management Division. This involves strategically planning and issuing bonds to finance capital projects, such as infrastructure improvements and new facilities. The division aims to secure favorable interest rates and terms for the city while maintaining a strong credit rating. They also monitor the city’s debt levels and ensure responsible debt management practices.

The Risk Management Division identifies and mitigates potential risks facing the city, including property damage, liability claims, and cybersecurity threats. This involves developing and implementing risk management policies and procedures, procuring insurance coverage, and managing claims.

Finally, the Purchasing Division is responsible for procuring goods and services for the city in a fair, transparent, and cost-effective manner. This includes developing procurement policies and procedures, soliciting bids from vendors, negotiating contracts, and ensuring compliance with purchasing regulations. The division emphasizes sustainable procurement practices, prioritizing environmentally friendly products and services whenever possible.

In summary, the Evanston Finance Department is a vital component of the city government, working diligently to ensure the responsible and efficient management of public funds. Through its various divisions, the department supports the city’s operations, invests in its future, and serves the financial interests of its residents.