The Finance Department serves the citizens of the city of Pharr by providing financial, management, and accounting services support to the City Manager’s office and City departments through sound management of the City’s financial activities. Sound financial management is achieved by operating in accordance with the state law, the City Charter, applicable ordinances and policies of the governing body. The Finance Department falls under the oversight of the City Manager.
The department’s objectives are to: demonstrate integrity, accountability, consistency, and professionalism; provide excellent customer service; emphasize strategic financial planning and performance reporting; maximize the effective and efficient use of public funds; follow directives and policies of our City Commission and City management; build a cohesive team based on trust, respect, and mutual support.
Functional responsibilities include accounting, financial reporting, budgetary control, cash management, debt management and investments. The accounting function includes accounts receivable, accounts payable, fixed assets and general accounting. The responsibility for financial reporting includes preparing financial statements as well as the annual financial report in accordance with generally accepted accounting principles. Budgetary control refers to the preparation and analysis of the annual budget. Cash management includes reconciling bank accounts on a timely basis and understanding the investment opportunities so that the City can meet its liabilities to its employees and vendors. Debt management ensures that the City’s long-term obligations are met within the requirements set forth by legal requirements. Investment responsibilities are set by investing the City’s funds with the main goal of safety, liquidity, and then yield.
The Finance Department consists of 4 divisions with a total of 19 budgeted positions: Administration (3), Accounting (4), Purchasing (3), and Utility Billing/Collection (9). For the FY 16/17 budget, the Finance Department’s combined budget was just over $1,446,000.00.