Finance Department Objectives
2010 Major Objectives

Each year, the department formulates objectives to specifically identify means by which the Community / Strategic Goals are to be reached. Presented below are the major objectives for 2010 which will assist in realizing the goals established for the community by City Council.

Community / Strategic Goal #8 - Financially Stable City Government
  • Analyze the cash reserve, investment, and debt policies to ensure they are within the established guidelines. 
  • Assist with the implementation of the Early Retirement Incentive (ERI) by participating in the ensuing reorganization of the Finance Department as well as determining and arranging for the most cost effective financing.
  • Maintain City Council mandated $1.92 property tax rate.
  • Maintain investments in the City's $122 million portfolio (City treasury and pension funds) with the objective of regularly exceeding the average return of the three-month U.S. Treasury Bill. 
  • Maintain or upgrade bond rating by Standard and Poor’s (AA+), Fitch Ratings Services (AA+) and/or Moody’s Investors Service (Aa2). 
  • Prepare and analyze the various monthly financial statements and monitor project budgets and grant reporting.
  • Review department activities and processes on an ongoing basis—seeking to maximize organizational effectiveness, including cash control, collections, purchasing and payroll controls.

Community / Strategic Goal #9 - Customer Service
  • Cross-train department staff to provide assistance, back-up coverage and enhanced customer service in all daily operations.
  • Implement Click2Gov for Business Licenses thereby enabling the residents of Elgin to complete routine tasks associated with facility use and occupational licenses.

Community / Strategic Goal #2 - Neighborhood Vitality
  • Provide residents with the option to receive water bills via email.