The role of the Finance Department is to provide financial stewardship of the City of Nanaimo's financial assets. It provides financial reporting and control and is responsible for the implementation of financial management policies that ensure the City is able to meet Council's future service expectations. Financial information is provided by Finance to the public, Council, media and other City departments. There are five divisions within the department:
Financial Systems & Reporting is responsible for the City's financial systems. This includes the SAP ERP system for all financial, purchasing and human resource information, and the Tempest property management system. The section also develops management reporting for internal use.
The Revenue Section is responsible for billing, collecting money and maintaining records for properties, business licenses and dog licenses.
There are approximately 30,000 properties in the City of Nanaimo. This Section maintains records of assessment, ownership, legal description and tax accounts. Tax notices and reminders are mailed annually and an annual tax sale is held for properties where property taxes are unpaid for three years.
This Section also bills for water, sewer and garbage services, known as User Rates. There are 22,000 property accounts that are billed three times a year. The Revenue Section also issues 5,000 business licenses and 5,600 dog licenses annually.
This Section is responsible to ensure that these bills are collected, the money is deposited promptly in the bank and that the transactions are appropriately recorded in the City's financial records.
The Financial Services Section is responsible for the expenditures of the City of Nanaimo. The Section processes over 30,000 invoices annually, resulting in the issuance of 12,000 accounts payable cheques.
The Section prepares monthly financial reports for internal review, and an annual financial statement that is available on this website.
This Section is responsible for ensuring that the financial records of the City of Nanaimo accurately reflect the financial position of these organizations.
The Section monitors cash flow and invests any available funds within the guidelines established by the Community Charter.
Financial Planning and Payroll Section
This Section combines two functions. The Payroll section provides bi-weekly paycheques for approximately 850 employees (including full-time, part-time and casual employees).
The other role is to prepare the City's financial plan annually for review and adoption by Council. This is done by collecting information from all departments and working with senior management to prepare a draft budget in accordance with the principles that have been established by Council. The budget is modified during a public input and discussion period and finally adopted by bylaw.
The Section also provides financial analysis and works on special projects such as the three year Development Cost Charge review.