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Finance

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Laura L. Sitrin, CPA
Director of Finance
43 Broadway, Newport, RI 02840
(401) 845-5394
lsitrin@cityofnewport.com

 

The Finance Department is responsible for the overall administration of its divisions which include Finance Administration, Assessing, Billing & Collections, Accounting, Payroll and Management Information Systems. Training

NESPMP Citizen Satisfaction Survey Results: Newport, RI

Comprehensive Annual Financial Reports, Capital Improvement Plans, Proposed & Adopted Budgets, Annual Performance Reports

Actuarial Valuation Reports:

Actuarial Valuation Report, Police Pension System - July 1, 2017

Actuarial Valuation Report, Fire Pension System - July 1, 2017

Actuarial Valuation Report, Other Post-Employment Benefits - July 1, 2017

Actuarial Valuation Report, Police Pension System - July 1, 2016

Actuarial Valuation Report, Fire Pension System - July 1, 2016 

Actuarial Valuation Report, Other Post-Employment Benefits - July 1, 2016

Actuarial Valuation Report, Police Pension System - July 1, 2015

Actuarial Valuation Report, Fire Pension System - July 1, 2015

Actuarial Valuation Report, Other Post-Employment Benefits - July 1, 2015

Actuarial Valuation Report, Police Pension System - July 1, 2014

Actuarial Valuation Report, Fire Pension System - July 1, 2014

Other Post-Employment Benefits Report - July 1, 2014

Actuarial Valuation Report, Police Pension System - July 1, 2013

Actuarial Valuation Report, Fire Pension System - July 1, 2013

Other Post-Employment Benefits Report - July 1, 2013

 

 

Finance Administration Division

The Finance Administration Division provides City officials with accurate and timely financial reporting necessary for informed decision-making. It also provides effective administrative support, leadership, and coordination of the Finance Department activities. The Finance Administration Division develops and implements the City's financial policies and procedures, and responds to public inquiries concerning financial operations.

Responsibilities include maximizing City resources by identifying cost saving measures and making improvements to the budget process while developing and monitoring the City's annual operating and capital budgets. Additional responsibilities include oversight of investment of all City funds, including those managed by the Trust and Investment Commission, and financial reporting for all departments.

Accounting Division

The Accounting Division provides timely and accurate financial information to users which allows for the monitoring of financial performance against legally adopted budgets, and fairly presents the status of the financial position of the City's reporting entities.  Functions include city and school accounts payable, payroll, accounting and financial reporting, fixed assets, special detail billing and accounts receivable.

Information and Technology Division

The Information and Technology Division (IT) – provides support and oversight of school financial and all City computer hardware, software and communications equipment.  This department also ensures that users are properly trained in use of computer software and applications.  Develops and implements a multi-year technology plan to promote goals of efficiency and enhanced residential access to City information.

Award of Financial Reporting Achievement

The Government Finance Officers Association of the United States and Canada (GFOA) has announced that its Award of Financial Reporting Achievement has been awarded to the Department of Finance, City of Newport, for its comprehensive annual financial report (CAFR) for the Fiscal Year ended June 30, 2016, the 12th consecutive year.

Our CAFR has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.

Distinguished Budget Presentation Award 

The Government Finance Officers Association of the United States and Canada (GFOA) has announced that its Distinguished Budget Presentation Award has been awarded to the Department of Finance, City of Newport, for its Adopted Budget document for the Fiscal Year ended June 30, 2017, the 12th consecutive year.

To achieve this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device.

Popular Annual Finance Report Award

The Government Finance Officers Association of the United States and Canada (GFOA) has announced that its Popular Annual Financial Reporting  has been awarded to the Department of Finance, City of Newport, for its Popular Annual Fincial Report (PAFR) for the Fiscal Year ended June 30, 2016, the 3rd consecutive year.

To achieve this award, a governmental unit must produce high quality annual financial reports specifically designed to be readily accessible and easily understandable to the general public and other interested parties without a background in public finance. 

 

 

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