Murray City's Finance and Administration Department strives to be an accountable steward of public funds by working closely with city departments, and elected and appointed officials, in providing accurate, timely and relevant financial information for the use of citizens, city council, city administration and employees.
The department is responsible for the systems and procedures that assure the sound and efficient functioning of the city's financial activities. The department implements an annual budget, handles accounting functions for all transactions, and provides financial statements on an annual basis.
To make this process function smoothly, the finance department assists the mayor in preparing a budget for presentation to the city council for final adoption before the start of each fiscal year. The department carefully monitors the budget and expenditures to ensure that all financial transactions stay within the allotted budget.
When financial transactions occur, the finance department is responsible to ensure that all monies due to the city are collected, and all city liabilities are paid timely. All cash received is safeguarded and invested according to the Utah Money Management Act. When funds are needed that exceed the city's cash reserves, the department arranges appropriate financing through the financial market.
The finance department keeps accurate records of all financial transactions, generates financial reports, and produces audited financial statements at the end of each fiscal year. Included in this process is preparing the city's payroll as well as billing, collecting, and accounting for city power, water, sewer, and refuse fees. The department also maintains a file of Murray City's fixed assets.