Finance department – Open MRTD http://openmrtd.org/ Thu, 24 Nov 2022 00:11:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://openmrtd.org/wp-content/uploads/2022/01/icon-2022-01-31T171458.103-150x150.png Finance department – Open MRTD http://openmrtd.org/ 32 32 Finance department ready to help with income tax issues https://openmrtd.org/finance-department-ready-to-help-with-income-tax-issues/ Wed, 23 Nov 2022 17:06:31 +0000 https://openmrtd.org/finance-department-ready-to-help-with-income-tax-issues/ Greta Kearns | Mayor of Grandview Heights When we think of this time of year, it’s not uncommon to think how busy we are. For the city’s finance department, the holidays are busy for a different reason — working hard to close the current year’s books and prepare to implement an approved budget for next […]]]>

When we think of this time of year, it’s not uncommon to think how busy we are.

For the city’s finance department, the holidays are busy for a different reason — working hard to close the current year’s books and prepare to implement an approved budget for next year.

Our finance department provides many services both within our organization and to the community. They have a proven track record of financial accountability and have received the State Auditor’s Award of Distinction for Excellence in Financial Reporting and Accountability for the past 11 years.

Our team is responsible for managing the city’s revenues and expenses to ensure we operate within our means each year, completing payroll, administering the annual budget and capital plan, completing required reports, create a tax budget and help residents and businesses with tax issues. as they arise.

Additionally, our finance department is focused on making it easier for you to see how your tax money is being spent. The department has prepared the city’s first popular Annual Financial Report (PAFR) in 2022, available at grandviewheights.gov.

One of the services our team offers directly to the community is to provide residents and businesses with two income tax administrators available for income tax questions or issues. They can be contacted at tax@grandviewheights.gov.

Grandview Heights Town Notes: Ministry stands ready to help with fire prevention education

As income tax requirements have changed during the COVID-19 pandemic, we frequently receive questions regarding state law. Under state law, municipal income tax must be withheld by employers and paid where the work is performed. Before the pandemic, that meant that if someone worked in Columbus and lived in Grandview Heights, they paid Columbus income taxes.

When many employees began working from home during the pandemic, the General Assembly temporarily allowed employers to continue withholding work done before the pandemic from the city. On December 31, 2021, this ended, meaning employers began to withhold city income tax again based on where the work is performed. For those who work from home, this is now their home city, or it can be a mix of their home city and the city in which their employer’s office is located.

If you reside and work for an employer in Grandview Heights, there is no need to change your deduction. If your employer is based outside of Grandview Heights and you work from home, please ask your employer to begin withholding taxes for Grandview Heights immediately. Even if you don’t work from home every day, your employer is required to withhold income taxes for Grandview Heights on the days you work from home.

While where you pay your income taxes may not seem to matter at first glance, it matters a lot for municipal services. Due to the fact that many industries in Grandview Heights are planning to work from home in a somewhat non-disruptive manner, we have seen our tax revenue drop more than most cities in central Ohio.

Our resources to provide modern infrastructure, emergency services, garbage collection, parks programs and all of our other services rely primarily on these local tax revenues. Making sure your employer pays your taxes to the right municipality makes all the difference in our ability to operate. For additional resources and frequently asked questions, visit grandviewheights.gov and select Grandview Heights Income Tax under our “Services” tab.

Greta Kearns is the mayor of Grandview Heights.

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SBP and Punjab Finance Department sign MoU to launch Raast on e-Pay Punjab – Business & Finance https://openmrtd.org/sbp-and-punjab-finance-department-sign-mou-to-launch-raast-on-e-pay-punjab-business-finance/ Mon, 21 Nov 2022 22:24:09 +0000 https://openmrtd.org/sbp-and-punjab-finance-department-sign-mou-to-launch-raast-on-e-pay-punjab-business-finance/ LAHORE: The State Bank of Pakistan (SBP) and the Punjab Finance Department on Monday signed a Memorandum of Understanding to launch Raast on e-Pay Punjab, a mobile application developed by the Punjab Information Technology Board (PITB). Special Secretary of Punjab Finance Department Muhammad Ali Randhawa and SBP Finance Director Qader Baksh signed the MoU in […]]]>

LAHORE: The State Bank of Pakistan (SBP) and the Punjab Finance Department on Monday signed a Memorandum of Understanding to launch Raast on e-Pay Punjab, a mobile application developed by the Punjab Information Technology Board (PITB).

Special Secretary of Punjab Finance Department Muhammad Ali Randhawa and SBP Finance Director Qader Baksh signed the MoU in the presence of Punjab Finance Minister Muhammad Mohsin Leghari.

The parties have agreed to use Raast Payment Gateway, allowing the Punjab government to send payments using the Electronic Funds Transfer mode. Under the new agreement, the Punjab government will disburse payments, including supplier payments, wheat supply payments, subsidies, salaries, pensions and PSPA subsidies, digitally to citizens and companies directly in their accounts. This will put an end to the old and cumbersome system of Treasury check payments.

On occasion, the Finance Minister of Punjab has applauded the PITB for crafting initiatives to make people’s lives easier. PITB IT-Ops Managing Director, Faisal Yousaf briefed the audience on the IT interventions deployed by PITB including e-Pay Punjab and explained how these technologies provide user-friendly services to citizens.

Finance Director Qader Baksh ensured cooperation with all parties to extend the services of Raast Payment Gateway to the Government of Punjab.

Copyright Business Recorder, 2022

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Twitter Payroll and the finance department resign en masse under Elon Musk https://openmrtd.org/twitter-payroll-and-the-finance-department-resign-en-masse-under-elon-musk/ Fri, 18 Nov 2022 12:27:00 +0000 https://openmrtd.org/twitter-payroll-and-the-finance-department-resign-en-masse-under-elon-musk/ Elon Musk’s ultimatum to Twitter employees didn’t go as planned. Several hundred workers and entire departments resigned on Thursday. One department hit by a large wave of resignations is finance, including payroll. Loading Something is loading. Thank you for your registration! Access your favorite topics in a personalized feed on the go. download app Much […]]]>
  • Elon Musk’s ultimatum to Twitter employees didn’t go as planned.
  • Several hundred workers and entire departments resigned on Thursday.
  • One department hit by a large wave of resignations is finance, including payroll.

Much of Twitter’s financial organization, including its payroll department, left the company on Thursday in response to an ultimatum from Elon Musk that apparently backfired.

Along with the payroll department’s resignation, Twitter’s U.S. tax team and its financial reporting team also resigned, two people familiar with the matter said, matching multiple internal posts seen by Insider. All three segments of the company were part of Twitter’s financial and accounting organization. While the accounting was “less impacted” by Thursday’s resignations, that part of the organization is also smaller now, one of the people said.

Employees are expected to be paid again next week, a former worker said. While those payments have likely already been approved, the next round of payments will not have been, the person said.

“What happens in two weeks?” the person asked. “When everyone who can approve of something is gone.”

“Now we will never see our money again,” said another former employee. Everyone who spoke with Insider asked not to be identified discussing sensitive topics. An email requesting comment from Twitter last night was not returned.

The loss of payroll and other finance department employees came amid a mass resignation of Twitter employees who refused to sign up to Musk’s proposed “Twitter 2.0.” In a Tuesday email, the billionaire, who took over Twitter about three weeks ago, said the platform would now be an “extremely hardcore” and forward-thinking place to work. He told the entire company to decide by Thursday at 5 p.m. ET whether they wanted to continue working on this version of Twitter. Those who did had to click on a link included in the email. Those who did not click on the link, which only had a “yes” option, would be considered to have decided to be part of a voluntary dismissal and would receive three months’ salary as severance pay, Musk said.

By the time the deadline expired, less than 50% of Twitter employees had signed up for Musk’s Twitter 2.0, as Insider reported. Musk, members of his personal transition team and some executives who remained on Twitter made personal calls and held meetings with several workers in an effort to urge them to stay with the company. While a few agreed, most disagreed.

By the end of Thursday, Twitter had several hundred additional employees and an internal Slack channel was “inundated” with greeting emojis, used by Twitter employees to say goodbye to co-workers.

Earlier this month, Musk laid off nearly 3,500 employees. Combined with Thursday’s resignations, two workers estimated there were likely fewer than 2,000 employees left at the company.

Are you a Twitter employee or someone else with ideas to share? Contact Kali Hays at khays@insider.com, on the secure messaging app Signal at 949-280-0267, or via Twitter DM at @hayskali. Reach out using a non-professional device.

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Intermediate Accounts Clerk “goes beyond” for the finance department https://openmrtd.org/intermediate-accounts-clerk-goes-beyond-for-the-finance-department/ Thu, 17 Nov 2022 23:00:00 +0000 https://openmrtd.org/intermediate-accounts-clerk-goes-beyond-for-the-finance-department/ Cape May Court House, NJ – Almost a year ago, Chad Murnaghan decided to trade in his helmet and construction sitescape for a calculator and an office environment – and his new colleagues are so happy he has it do.The former laborer is now an accounts clerk for Middle Township’s finance department, helping manage township […]]]>

Cape May Court House, NJ – Almost a year ago, Chad Murnaghan decided to trade in his helmet and construction sitescape for a calculator and an office environment – and his new colleagues are so happy he has it do.
The former laborer is now an accounts clerk for Middle Township’s finance department, helping manage township expenses. He takes pride in his work and is a valuable part of the team, earning him recognition as November’s employee of the month.
“I pay the bills,” Murnaghan said. “I have a degree in accounting and I’m a person who likes numbers, so this job suits me perfectly. And it’s an honor to work for the city where I was born and raised.
Murnaghan is indeed a stickler for numbers: his scrutiny of Middle’s utility accounts reduced the township’s liability by about $50,000.
“I have a lot of helpful colleagues behind me who make success possible,” Murnaghan said. “A lot of people in this town work really hard. It’s a brand new career for me and everyone in the department has been tolerant and kind.
Betzy McClintock, another accountant, nominated McClintock for the employee of the month honor.
“Working with Chad is an absolute pleasure,” said McClintock. “He helped keep the ship afloat in the finance office. He is humble about his accomplishments and says he is just doing his job, but the time and energy he puts in goes beyond that.
Mayor Tim Donohue, who oversees the township’s finance department, said Murnaghan is a model employee.
“Chad has been an exemplary member of our township’s finance team,” he said. “His strong work ethic, willingness to learn new skills and overall disposition made him a pleasure to work with everyone in the office. He is well deserving of this honor and I am happy to have him on our team. !
Murnaghan will be recognized at the November 21 city committee meeting.

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Covington commission hears outside review makes 55 recommendations for finance department https://openmrtd.org/covington-commission-hears-outside-review-makes-55-recommendations-for-finance-department/ Wed, 16 Nov 2022 19:06:11 +0000 https://openmrtd.org/covington-commission-hears-outside-review-makes-55-recommendations-for-finance-department/ By Ryan ClarkNKyTribune journalist An external review of the city’s finance department revealed 55 high-priority recommendations for change, including major upgrades on everything from creating standard operating procedures for employees to providing more training on internal software . Representatives from the Chicago-based Baker Tilly Company made the presentation at the Commission’s regular legislative meeting on […]]]>

By Ryan Clark
NKyTribune journalist

An external review of the city’s finance department revealed 55 high-priority recommendations for change, including major upgrades on everything from creating standard operating procedures for employees to providing more training on internal software .

Representatives from the Chicago-based Baker Tilly Company made the presentation at the Commission’s regular legislative meeting on Tuesday evening. But they first started by saying that the employees in the department “really want to do a good job”, are passionate and work long hours.

But, as Mayor Joseph U. Meyer noted, there have been two separate major theft incidents in the department in the past 10 years. According to Baker Tilly, changes need to be made.

The findings of their report include recommendations such as:

Create standard operating procedures for each employee
Establish clear policies and objectives
Investigate technical training and development opportunities for employees
Establish clear policies for the use of credit cards
Revisit (but not necessarily cancel) the work-from-home policy
Added a position focused on budget development, while monitoring the comings and goings of finances
Addition of an internal audit position in the general manager’s office.
Creating a “Who to call” list
Training financial staff on the software
Implementation of an acquisition card program
Development of an annual audit plan

Baker Tilly representatives noted that these recommendations could not be implemented quickly; in fact, it would take a long time. However, they will then provide the City with an implementation guide.

“Thank you all for the depth and quality of this presentation,” Meyer said. “You have identified many ways to improve…. and a number of policies and procedures need to be significantly improved.

The mayor agreed that implementation would be a slow but necessary process.

“I think your recommendations are complete,” he said. “And I think that’s a great roadmap.”

local hero

Commissioners read a resolution honoring local citizen Rudy Ramirez-Roblero, for “appreciation of his acts of bravery and citizenship in assisting members of the Covington Police Department.”

On June 3, Ramirez-Roblero was leaving a religious event in the 15th and Russell Street area when he saw a police officer arrive, get out of his police cruiser and chase a suspect during an incident. Another suspect, Breanna Wright, then entered the police car with the intention of stealing it.

Ramirez-Roblero then put himself in danger by removing Wright from the car.

“He parked the vehicle and waited for the police to come for a report,” police chief Brian Valenti said. “His actions were above the call of duty as a citizen.

“Rudy Ramirez-Roblero’s actions epitomize the best of all citizens of Covington.”

Financial report

Steve Webb, Chief Financial Officer, presented a first quarter financial report to the city, which included:

• There is currently a deficit of $1.7 million in the general fund, but Webb noted that taxes will be collected in the spring

• General revenue ahead of last year

• Expenditure to date is $13,126,107 against an overall budgeted amount of $69,213,228.

Mortgage help

Commissioners approved the plan for the city’s ARPA-funded Mortgage Assistance Program, which will use $500,000 to help potential buyers reduce mortgage interest rates or pay down payment and closing costs associated with the purchase of owner-occupied or vacant homes in eligible census tracts, or QCTs.

ARPA Mortgage Assistance will be a grant of up to $15,000 to help families buy a home, with a spending limit of $350,000.

City officials said the program would be run the same way as the HOME down payment assistance and CDBG home repair programs. The goal is to increase the number of homeowners in QCTs, which are defined as census tracts in the city where 51% of the population earns 65% or less of the region’s median income.

Interested buyers will then apply online here: https://portal.neighborlysoftware.com/COVINGTONKY/participant

Heritage Professions Program

Commissioners approved a sub-recipient agreement with the Building Industry Association of Northern Kentucky for tuition and expenses, and building stabilization expenses, associated with 1515 Madison Ave. – which will be used as a working laboratory for the Covington Academy of Heritage Trades.

Previously, the city set aside $250,000 of ARPA funds to support the development of the new Covington Academy of Heritage Trades. As a sub-recipient, the Northern Kentucky Building Industry will deploy funds to stabilize the building and cover tuition and supplies for Covington residents who enroll in the workforce training program. ‘work.

Bridge works

Commissioners approved a $69,500 contract with Emersion Design LLC to provide a design for the Covington Walkway at the Clay Wade Bailey Bridge.

In 2019, the city’s economic development department hired Garner Economics to complete a strategic plan, and one of the recommendations was to improve walkways to the city, which would include new signage initiatives, landscaping and embellishment.

Changed text for kennels

Commissioners approved a proposal to amend the Neighborhood Development Code to add kennels as a conditional use to Limited Industrial Districts.

The Neighborhood Development Code’s Limited Industrial District (LI) was developed for “low to moderate impact warehousing, wholesale, and manufacturing uses,” city documents say. “This neighborhood covers many areas adjacent to the railway in Covington. The recommended text change would allow kennel uses that receive a conditional use permit to operate in this district as they are suitable for the large format buildings associated with this district.

Port Authority Camera Grant

The Covington Police Department has been approved to receive a $157,180 grant from the U.S. Department of Homeland Security’s Port Security Grants Program — along with a city matching ($52,393).

The funds will be used to expand the Riverfront Commons camera program west, “from Madison Landing to just east of the existing Brent Spence Bridge,” city plans say. “This will add 18 additional cameras along Covington’s Riverfront Commons hiking and biking trail.”

iPad Technology Pilot Program

Commissioners approved the use of ARPA funds under a contract with the Covington Independent Public School District to carry out a pilot program with JE Biggs families that “features and measures the impact of City-provided iPads and early literacy apps on participating children’s kindergarten readiness,” city documents say.

The program will use $73,334 for Read Ready Covington’s “iPad Technology Pilot Program,” which the Covington Independent Public School District will use for three consecutive school years. The project will monitor the impact that city-provided iPads and early literacy apps have on two classes of 4-year-olds and their families at JE Biggs Preschool.

The school district will provide technical and instructional support, and the program will begin immediately after the technology arrives.

Promotion

The commissioners approved the promotion of James Johnson to the post of storm water maintainer.

Hiring

Commissioners approved the hiring of Joseph Meimann, Code Enforcement Officer, Allyson Schaeffer, Code Enforcement Inspector, and Hillary Williams, Recreation Program Coordinator.

Resignations

The commissioners approved the resignations of Angela Umbarger, tax auditor, and Devyn Harris, police officer.

Reappointments

The commissioners approved the renewal of the mandates of: Pamela Mullins, at the Human Rights Commission; Omar Gray at the Code Enforcement Hearing Panel; Rebecca Weber on the Architecture Review and Development Board; and Matthew Roetting on the Audit Committee

And the nominations of:

Sheree Weichold to Alcoholic Beverage Control Administrator; and Kathleen Summe on the Linden Grove Cemetery Board of Trustees

Next meeting

The next regular meeting of the Covington Commission will be a caucus meeting to be held at 6 p.m., November 22, at the City Building at 20 W. Pike St. in Covington. The meetings can be followed live on Fioptics channel 815, Spectrum channel 203, the Telecommunications Board of Northern Kentucky (TBNK) website, TBNK Facebook page @TBNKonline and TBNK Roku channels.

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Joliet shakes up the city’s finance department – ​​Shaw Local https://openmrtd.org/joliet-shakes-up-the-citys-finance-department-shaw-local/ Wed, 16 Nov 2022 00:30:22 +0000 https://openmrtd.org/joliet-shakes-up-the-citys-finance-department-shaw-local/ The City of Joliet has made changes to the head of its finance department. Kevin Sing, who joined the city in March as budget director, was named chief financial officer on Tuesday. James Ghedotte, the city’s chief financial officer for eight years, is now assistant chief financial officer, City Manager James Capparelli made the changes, […]]]>
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How to Generate Impactful Growth with a Modern Financial Service https://openmrtd.org/how-to-generate-impactful-growth-with-a-modern-financial-service/ Tue, 08 Nov 2022 14:07:16 +0000 https://openmrtd.org/how-to-generate-impactful-growth-with-a-modern-financial-service/ By Anita Samojednik. Increasingly, the demands placed on a company’s finance department are multifaceted and rapidly changing. Traditionally, financial services were auxiliary to leadership. They would provide the numbers and data that executives use to inform big business decisions, but they wouldn’t necessarily be involved in making those decisions. Today, many senior finance executives view […]]]>

By Anita Samojednik.

Increasingly, the demands placed on a company’s finance department are multifaceted and rapidly changing. Traditionally, financial services were auxiliary to leadership. They would provide the numbers and data that executives use to inform big business decisions, but they wouldn’t necessarily be involved in making those decisions.

Today, many senior finance executives view finance and accounting as critical to the long-term success of their business, with 38% investing in the finance and accounting team to enable greater efficiency, according to the 2022 Financial Maturity Study. Yet companies that place too much emphasis on efficiency without proper resources to then leverage it will hinder their own growth. Those who favor a flexible model that can drive both efficiency and growth will be in the best position to meet economic challenges and create long-term competitive advantages.

With recent developments in the availability of technology tools and an openness to non-traditional finance resource solutions, modern finance functions can and should increasingly take on a much more strategic role in driving this efficiency and growth.

Leverage automation to advance finance functions

New technologies and automated processes have increasingly relieved finance teams of repetitive manual tasks, freeing them to focus more on analysis and strategy to add increased value to the organization. For example, full-service bookkeeping and accounting platforms like QuickBooks or NetSuite automatically perform several operational functions such as accepting business payments, payroll, etc.

The rapid automation of bookkeeping and accounting procedures enables finance departments and accounting firms to shift resources from administrative tasks to more strategic activities. With large amounts of data in one place, analysts, controllers, and CFOs can now easily perform custom analysis, recognize patterns, and make more informed business decisions. New technologies are helping to augment finance roles, allowing them to be more analytical and bring strategic insight to the table due to the reduced need for people to focus solely on data collection.

This digital transformation means that future finance and accounting professionals will need more than just mastering financial concepts. According to McKinsey’s Finance 2030 article, finance professionals will also need computer programming and analytical skills to be able to easily navigate the complex tools of finance and artificial intelligence (AI). They will also need to be able to translate the results into plain English for stakeholders.

In the future, the financial industry may see more advanced technologies handling additional repetitive tasks. For example, optical character recognition (OCR), AI, and speech analytics technology could eventually allow billing transactions and communications to be managed by software. With these changes, financial services and accounting firms will have the opportunity to focus more on being key decision makers and strategic advisors to a business.

Automated technology powered by AI and machine learning can not only help remove the tedious tasks of financial work, but also make it more meaningful and engaging for current and potential employees.

Modernize finance and accounting teams with split talent solutions

Traditionally, financial services and accounting firms have been limited to hiring full-time employees within their geographic region. However, in recent years, many finance departments have shifted their approach to relying on highly skilled – or fractional – freelance professionals, focusing on specific skills rather than physical proximity.

Working with split talents offers many benefits for employers and employees, including:

  • Flexible topic expertise can ease bandwidth constraints and help balance the work of full-time team members.
  • The agility provided by hiring split talent allows companies to scale as needed.
  • Specialized and on-demand split worker support allows accounting firms to expand service offerings based on dynamic needs.
  • Independent finance professionals often have years of experience with leading companies that tackle the specific business problem a company may be trying to solve.
  • Unlike a full-time employee, companies don’t have to hire the same professional for every project. Businesses are free to find the right person with the right skills, experience and qualifications for each specific business need.
  • Businesses only have to pay a fraction of financial talent for the service provided. This can save the company money on recruitment, benefits, and overhead. It also provides the ability to work within the corporate budget for additional resources.

Companies that outsource finance talent remotely give themselves more freedom to hire the best person for the role that can deliver the most value, regardless of location or time zone. In this way, augmenting staff with independent finance professionals provides companies with a wider range of top talent to choose from.

To drive business efficiency and innovation, financial services must balance core finance functions and roles while adapting to new technologies and the future of work. This digital transformation requires companies to develop modern finance departments with cutting-edge technology complemented by flexible and focused expert teams that help businesses solve problems and drive growth.

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Anita Samojednik is CEO of Paro, an AI-powered marketplace disrupting the way companies access on-demand financial talent. Prior to joining Paro, Anita had over 15 years of leadership experience at Groupon, Ladders and Vonage, where she led bilateral marketplaces and multinational e-commerce businesses while leveraging cutting-edge machine learning techniques and of artificial intelligence. Anita is a member of the Columbia Business School Advisory Board, Deming Center.

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Pay rise approved for Westmoreland DA Spokesperson, Finance Department https://openmrtd.org/pay-rise-approved-for-westmoreland-da-spokesperson-finance-department/ Fri, 21 Oct 2022 10:01:00 +0000 https://openmrtd.org/pay-rise-approved-for-westmoreland-da-spokesperson-finance-department/ A month-long search for a public information officer for Westmoreland County District Attorney Nicole Ziccarelli is nearing completion after commissioners agreed to a 50% pay rise before the position was even filled. . The county’s salary board, which includes the three commissioners and comptroller Jeff Balzer, approved raising the salary of the newly created spokesperson […]]]>

A month-long search for a public information officer for Westmoreland County District Attorney Nicole Ziccarelli is nearing completion after commissioners agreed to a 50% pay rise before the position was even filled. .

The county’s salary board, which includes the three commissioners and comptroller Jeff Balzer, approved raising the salary of the newly created spokesperson position to just over $75,000. The position was originally posted at $50,000 this summer, but hasn’t been filled for months.

Ziccarelli said she made a hire for the job.

“I’m not ready to announce it yet,” Ziccarelli said. She said the higher salary was needed to attract a qualified person to take on the role of public information officer for her office. The employee will be loaned to other county departments when needed.

The spokesperson will be among the highest paid employees in the district attorney’s office. Ziccarelli, whose salary is set by state law, earns more than $196,000. Twelve other attorneys and detectives in the office of more than 50 workers earn more than $75,000, according to county payroll records.

County commissioners defended the pay rise.

“We also need to have a conversation with Nicole and her team to formally put this in place. It’s really to make sure she has the staff she needs for her office,” Commissioner Sean Kertes said.

Commissioner Doug Chew said the county will only use the public information officer when there is a “complex situation.”

Commissioner Gina Cerilli Thrasher said she approved the higher salary because Ziccarelli’s office was under budget.

Since taking office in January, Ziccarelli has pushed for a public information officer to coordinate communications with the public and the media. So far, Ziccarelli has handled all media inquiries and has prohibited his staff from making public comments.

Other increases OK

The wage increase was part of a package of staff moves approved by the wage board this week, including increases given to members of the county’s finance department.

To facilitate the additional remuneration, the commissioners increased the working day of the five employees of the service by 30 minutes. This translates into salary increases of around $5,000 for some and a little less for others.

Chief Financial Officer Meghan McCandless will see a pay rise of $4,500 and earn an annual salary of around $86,500.

Commissioners said the increases were appropriate because of the additional work required to process and account for large grants, such as the $105 million the county received in covid relief assistance, more than $36 million in emergency funding. rental assistance and a $1.2 million election integrity grant. received from the state this year to pay for the operations of the electoral office.

The county is also set to receive $22 million over the next 17 years as part of a nationwide settlement of a lawsuit filed against the drugmakers responsible for the opioid epidemic.

Meanwhile, the department is responsible for overseeing the county’s $352 million budget and developing next year’s spending plan.

“All these grants are coming in and they’re doing extra work,” Kertes said. “This is the time when we have to inspire our employees to make sure they want to stay here and show them that we appreciate what they are doing.”

Thrasher said the salary increases will not increase county spending.

“We’re also eliminating a position for $45,000, so it’s costing us nothing,” Thrasher said.

Chew said he fully supports the salary increases.

“This board of commissioners has more grants than previous boards, even outside of covid-related awards,” Chew said. “As we try to fund important programs without using property tax revenue, grants become an important part of our revenue portfolio.”

Rich Cholodofsky is a staff writer for Tribune-Review. You can contact Rich by email at rcholodofsky@triblive.com or via Twitter .

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Eight ways businesses can streamline their finance department – London Business News https://openmrtd.org/eight-ways-businesses-can-streamline-their-finance-department-london-business-news/ Wed, 19 Oct 2022 12:35:18 +0000 https://openmrtd.org/eight-ways-businesses-can-streamline-their-finance-department-london-business-news/ Running a well-established and successful business requires a ton of hard work and planning. If you’re a startup, you’ll likely wear many hats, such as managing operational tasks, finding investment opportunities, planning marketing initiatives, and more. But more importantly, to run a successful business, you need strong financial service. It is therefore necessary to keep […]]]>

Running a well-established and successful business requires a ton of hard work and planning. If you’re a startup, you’ll likely wear many hats, such as managing operational tasks, finding investment opportunities, planning marketing initiatives, and more.

But more importantly, to run a successful business, you need strong financial service. It is therefore necessary to keep control of your finances, even if you are a big name in the industry.

Lack of attention to your business finances can lead to missed opportunities for essential tax deductions, poor business decisions, problems obtaining loans, and possibly the downfall of your business.

Fortunately, streamlining your finance department and staying ahead of the game isn’t as hard as it seems. With a little forethought and the implementation of a few practical strategies, businesses can improve their finances and plan for growth. To better understand this, here are some simple ways for businesses to get their finance department in order and on the right track:

1. Hire an accountant or bookkeeper

We strongly advise you to hire an accountant or bookkeeper if you have not already done so. Hiring experts can help you organize your business finances and keep track of current financial information and activities. Accountants can also help with the preparation of tax returns and other necessary financial responsibilities, which can have a significant impact on the success of your business.

Along the same lines, the field of accounting is dynamic and the job opportunities for those with relevant degrees are plentiful. An advanced degree in accounting can give individuals the boost they need to secure senior-level positions in organizations with a finance division. You can also encourage your existing employees to boost their careers and get the right training to fulfill this role. An online MACC can be their ticket to success in the field. And by studying for a higher degree, they can learn broader skills, deepen their knowledge of accounting, and stay on top of the latest technology trends. Which ultimately benefits your business.

2. Set a budget

Having a budget is a necessary component of a realistic business plan. By creating a budget, you can identify your financial goals and track your progress against your business goals and forecasts. Make sure your minor accounting procedures are in order so that you can regularly monitor your cash flow and expenses against your budget.

3. Categorize your expenses

Maintaining a business, let alone a successful business, takes effort. When managing your business finances, it can be easy to get overwhelmed with money flowing in and out. We strongly advise business owners to spend time categorizing income sources and expenses, as this can often go to the bottom of the priority list.

By doing this you can guarantee that your funds are all structured. Then, the tax declaration will be considerably easier because everything will be well prepared and structured.

4. Use contemporary software solutions

Companies are investing heavily in artificial intelligence and robotics to improve their operations. With such implementations, your business can reduce the number of manual processes.

So, you can also think about using contemporary software solutions. You can use artificial intelligence technologies to make better financial decisions.

These AI-powered tools will examine market movements and help you buy and sell stocks at a profit. Similarly, accounting software can help in the preparation of financial statements. Make entries in the register and the software will create balance sheets and tax returns for you. In addition to reducing the risk of error, this will greatly increase efficiency.

5. Improve your team’s skills

Having great financial software in place is only half the battle; the other half ensures that your team is properly trained and familiar with its use. Despite the beauty of automation, you still need to make sure your team members know the fundamentals of the systems. Hosting training sessions with your staff covering all aspects of implementation will help ensure your finance department is up to date. Keeping your company’s finances running smoothly depends on everyone being informed and fully understanding any new systems that are put in place.

6. Focus on reducing interest-bearing debt

Another thing you can do is make sure your suppliers don’t charge interest on their products as long as they offer such discounts. When you reduce them all to 0% APR terms, which will take work on both sides, you will have a lot more money to use to improve your business. You’ll have to rework deals like this with your creditors once a year.

7. Loan consolidation

You might even consider combining existing lines of credit or loans. Keeping track of your payments can be difficult if you have multiple loans, which could cause problems if you forget to make a payment or make a mistake. Due to interest charges, it may even end up costing you more in the long run. You will be able to save money if you combine all of your loans with one provider so that there is only one set of bills to track.

8. Consider outsourcing payroll services

Payroll is one such aspect that is not only easy to outsource, but can also help a business save money on labor costs. It may be a good idea for you to hire a third-party payroll processor if your business doesn’t have a lot of capital or you’re still getting established. You can determine which choice is best for your business by researching and talking to local businesses that provide these services. A reliable payroll service provider will take care of all payment and tax reporting obligations, helping you save time and money down the road.

Conclusion

Money is an essential element to ensure the success of a business. One of the best ways to ensure long-term business success is to organize and streamline your business finances at all times. By considering the strategies mentioned in this article, businesses can build a robust financial system and plan for growth. However, keep in mind that streamlining the finance department takes a lot of perseverance and a leap of faith. You must be able to embrace and adapt to all changes and take advantage of modern technology to stay ahead of the game.

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Department of Finance – City of West Chicago, Illinois https://openmrtd.org/department-of-finance-city-of-west-chicago-illinois/ Tue, 18 Oct 2022 15:44:35 +0000 https://openmrtd.org/department-of-finance-city-of-west-chicago-illinois/ The City’s Finance Department is responsible for the central financial functions of the City. Duties include providing technical support as well as participating in the formulation and execution of the City’s financial policies. The department also handles administration of the Metra Commuter parking lot, utility billing, garbage, and yard waste sticker sales. The department is […]]]>

The City’s Finance Department is responsible for the central financial functions of the City. Duties include providing technical support as well as participating in the formulation and execution of the City’s financial policies. The department also handles administration of the Metra Commuter parking lot, utility billing, garbage, and yard waste sticker sales. The department is also responsible for the general ledger, payroll, accounts payable, utility billing, collections, receiving mail processing, claims, and various other services that are provided to the public.

Budgets for the fiscal year 2009-2022

The City of West Chicago’s fiscal year 2022 budget was presented to the Mayor and City Council, pursuant to Section 2-146 of the City of West Chicago Code. The annual budget serves as a comprehensive financial plan and strategic guide for our organization. It includes a forecast of expected revenues for the coming fiscal year, as well as enacted expenditures that will guide the services provided to our customers, the 26,800 residents and more than 800 businesses that call West Chicago home.

Budget 2022 (PDF – 9 MB)
Budget 2021 (PDF – 8 MB)
Budget 2020 (PDF – 14 MB)
Budget 2019 (PDF – 15 MB)
Budget 2018 (PDF – 15 MB)
Budget 2017 Part I (PDF – 6Mo)
Budget 2017 Part II (PDF – 7 MB)
Budget 2016 (PDF – 6 MB)
Budget 2015 (PDF – 4 MB)
Budget 2014 (PDF – 4 MB)
Budget 2013 (PDF – 8 MB)
Budget 2012 (PDF – 6 MB)
Budget 2011 (PDF – 2 MB)
Budget 2010 (PDF – 5MB)
Budget 2009 (PDF – 1MB)

Audit report for the financial year 2020

The City of West Chicago has again received the Certificate of Excellence in Financial Reporting for the fiscal year January 1, 2019 through December 31, 2019 from the Government Finance Officers Association.

Audit report 2020 (PDF-2 MB)
2020 Management Letter (PDF-177KB)

Audit reports for the financial years 2009 – 2019

The City of West Chicago received the Certificate of Achievement for Excellence in Financial Reporting Award from the Government Finance Officers Association for each of the fiscal periods below:

Audit report 2019 (PDF – 2 MB)
Audit report 2018 (PDF – 2 MB)
Audit report 2017 (PDF – 3 Mo)
Audit report 2016 (PDF – 3Mo)
Audit report 2015 (PDF – 2Mo)
Audit report 2014 (PDF – 7 Mo)
Audit report 2013 (PDF – 7 Mo)
Audit report 2012 (PDF – 6Mo)
Audit report 2011 (PDF – 6 Mo)
Audit report 2010 (PDF – 6 Mo)
Audit report 2009 (PDF – 6Mo)

Monthly entertainment tax return form

The city’s amusement tax is administered and processed by the finance department. Effective July 20, 2009, an ordinance was passed imposing a 2% tax, to be collected monthly, on all entertainment which includes golf, bowling, movies, and the rental of video films and video games.
Entertainment tax form English (PDF – 67kb)
Forma de Impuesto de Juegos Spanish (PDF – 67kb)

Taxes

Fee schedule

Finance Department staff

Nikki Giles – Chief Financial Officer (acting)

Contact information:

(630) 293-2200 x120

West Chicago City Hall
475 Main Street
West Chicago, IL 60185
Telephone: (630) 293-2200
Fax: (630) 293-3028

Town hall hours:
from Monday to Friday
8:00 a.m. to 4:30 p.m.

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