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Sanford finance staff detail transaction volumes, fixed assets and audit calendar
Summary
City finance managers briefed commissioners on high transaction volumes, grant and audit processes, and the city's fixed-asset portfolio; the presentation highlighted ongoing audit work and upcoming budget calendar.
Peter Safari, finance manager, summarized the Finance Department's operations and controls, including accounts receivable and receipting processes and the department's role in grant management and year-end reporting.
Safari said finance processes more than 700 invoices annually and handles large transaction volumes: more than 36,000 cash and check payments, approximately 290,000 electronic payments, and multiple thousands of other receipts. He said the city maintains roughly 4,900 fixed assets with an approximate total value of $720,000,000 and noted the department's long run of recognition for financial reporting: a Certificate of Achievement award for 36 consecutive years and a Distinguished Budget Presentation award for nine years.
Safari also described the city's audit and budget timeline: preliminary audit work, the year-end audit engagement, and a budget development window that follows audit completion and runs toward the Commission's September meetings. He said the audit completion begins the prior year closure and then the budget process, with a checklist of tasks to prepare the ACFR and required schedules.
Commissioners thanked finance staff for work on audits and controls; there was no formal action recorded in the work session minutes for this presentation.
