FY2022

FINANCE DEPARTMENT

Finance Director: Office Location:

Dennis Bockenstedt 410 E. Washington St.

Phone:

(319) 356-5050

Finance Department Divisions:

General Fund:

Internal Service:

• Administration

● Information Technology Services

• Accounting • Purchasing • Revenue

Risk Management

● ●

Purchasing

● Administration Special Revenue Fund: • Administration

MISSION STATEMENT It is the mission of the Finance Department to provide quality services to residents and to safeguard City assets. The role of the Finance Department is to support the operating departments in achieving their program objectives utilizing effective and efficient financial planning, reporting, and central support systems. DEPARTMENT DESCRIPTION Finance Administration provides direction and administrative support to departmental operating divisions. It supervises the preparation and dissemination of financial data for use by City Council and staff in making managerial decisions and coordinates the annual budget process. Administration also oversees the City’s Health & Dental Reserves as Internal Service Funds which are maintained for permanent employees’ health care coverage through the City’s self- insurance plan. Finance Administration also manages the City’s Employee Benefits Fund which is a Special Revenue Fund that collects property taxes levied for the purpose of funding public employee benefits such as IPERS, MFPRSI, health insurance, dental insurance, Social Security and Medicare, as well as other similar benefits. Finance Administration also manages the Tax Increment Financing Fund and the SSMID Fund which are Special Revenue Funds.

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