Finance Department is responsible for the books of original entry for the assets, liabilities, equities, receipts and expenditures of the City. Under the direction of the Finance Director, the department develops and maintains accounting systems for all financial transactions in conformity with the City Charter, State law and generally accepted accounting principles.
Budget is prepared in accordance of the State Budgeting Act. The financial condition of the City is monitored through budget amendments and forecasts.
A Comprehensive Annual Financial Report is produced each year in accordance with generally accepted accounting principles and applicable legal requirements.
Internal management reports are generated to facilitate daily operations and decision-making.
Accounts payable is processed in the Finance Department. The processing for accounts payable includes data input, reconciliation and procedures to ensure that supporting documentation and approvals are in compliance with established policies.
The Finance Department is responsible for risk management. The City participates in the Michigan Municipal Risk Management Authority pool that provides insurance coverage for liability, auto, crime and property damage risks and the Michigan Municipal Liability and Property Pool that provides coverage for workers' compensation.
The Finance Department is responsible for the efficient collection of all revenues due the City of South Haven and other taxing units and for the efficient distribution of funds to the various taxing units and city accounts. These objectives are accomplished through timely billing and collections of funds, sound cash management principles and adherence to applicable investment policies to ensure safety of City funds.
The City of South Haven does not have a purchasing department or Purchasing Director. The purchasing operations of the City are decentralized, that is each department is responsible for its own purchasing of goods and services.