City of Newport Finance Department

Under the supervision of Laura Sitrin, Finance Director, 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.

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

Finance Administration Division

The Finance Administration Division provides City officials with the accurate and timely financial reporting that is 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. Included are Accounts Payable, Payroll, Accounting and Financial Reporting and Fixed Assets.

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, 2006. 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.