Finance

Mission Statement


The Finance Department is dedicated to sustaining financial strength & viability through fiscally sound financial management; insuring the highest level of customer service while providing efficient, value added services that maximize the City's financial resources and public trust.
Responsibilities
Our Finance Department has the fiscal responsibility of maintaining and monitoring the city's budgetary process including expenditures and revenues for the fiscal year. Included in this task is:
  • Accounts Receivable/Payable
  • Budget Processing
  • Business Licenses
  • Investments
  • Payroll
  • Purchasing
  • Water Bills and Trash Payments
The department also prepares monthly, quarterly, and annual fiscal reports, which every department utilizes in planning their operations and expenditures.
2018-19 Mid-Year Budget Report

On March 5, 2019, the City Council set aside $2.8 million in additional funds to continue building reserves based on the Mid-Year Budget Report for Fiscal Year 2018/19, which shows General Fund operating results projected to be approximately $2.8 million higher than the original budget. General Fund operating results are projected to be better than expected partly due to property tax revenue. Property values are up approximately 5 percent year-over-year as the median sale price of a detached single-family residential home in Fountain Valley reached $800,000. Sales and use tax revenue (including Measure HH) is also projected to be higher due to strong economic growth and also partly due to the timing of receipts from the State of California. The actions taken by the City Council shows the fiscally conservative steps the City Council has made to ensure reserves are replenished and CalPERS pension obligations are met. The City’s fiscal policy is guided by the 20-Year Financial Plan with the goal of being debt free in 2037 when Measure HH sunsets. The City is on a solid path towards long-term fiscal sustainability. The Mid Year Budget Report can be found here: