Memo- Possible Program Changes to Finance•
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Memorandum
To: Steve Mielke
CC: Mayor and Council Members
From: Lori Yager
Date: 11/06/98
Re: Possible Program Changes to Finance
In response to your request for information regarding Finance and its' functions and
related costs I have briefly broken out the different areas and made some possible
solutions for future reduction of staff within the finance area
Finance does the following functions:
1. Budgeting $ 22,000
2. Accounts Payable 36,000
3. Accounts Receivable 11,200
4. Payroll 30,500
5. Utility Billing 38,000
6. Financial Reporting 40,000
7. Investing 10,000
8. Risk Management 16,000
9. Benefit Administration 17,000
10. Network Administration 15,200
11. Capital Planning 5,000
12. Debt Service Administration 8,000
13. Tax Increment Administration 22,000
These costs are approximate because currently Finance does not break these costs
down in this much detail.
One possible way to reduce the Finance budget is to eliminate a position by
outsourcing a few functions. The functions I would recommend outsourcing would
be payroll, benefit administration, accounts receivable and network administration.
Finance would like an opportunity to analyze these suggestions and determine the
bottom line savings or loses.
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