Accounting is made up of four sections: Financial Reporting, Payroll, Accounts Payable, and Billing.
The City of Rockford Accounting is directed by an Accounting Manager and is made up of four sections: Financial Reporting, Payroll, Accounts Payable, and Billing.
The Financial Reporting section is responsible for the preparation of financial statements, tracking fixed assets, and the accounting of receivables. Accountants and clerks maintain the accounting and reporting systems.
The Comprehensive Annual Financial Report, or CAFR, is generated annually to communicate to citizens, Council Members, and other government agencies the financial position of the City. The CAFR presents the results of operations of all City activities for the previous fiscal year. These financial statements are reviewed by an independent auditor, whose opinion is included with the CAFR. Previous year's CAFRs can be found here.
The Government Finance Officers Association evaluates municipal Comprehensive Annual Financial Reports each year to award their Certificate of Achievement for Excellence in Financial Reporting. The City of Rockford has received this award every year since 1981.
The Payroll section is responsible for administering the City payroll system which is run bi-weekly.
The Accounts Payable section is responsible for coordinating efficient, responsible, and timely distribution of accounts payable and disbursements.
The Billing section is responsible for notification and accounting for businesses subject to the Redevelopment Fund (Metro) Tax and Tourism (Hotel/Motel) Tax as well as billing other municipalities for City services per intergovernmental agreements.