Doral’s Finance Department: Stewardship and Growth

The City of Doral’s Finance Department plays a crucial role in ensuring the city’s financial health and stability. This department is responsible for managing the city’s financial resources, providing accurate and timely financial information, and ensuring compliance with all applicable laws and regulations. Their work underpins the city’s ability to deliver essential services and plan for future growth.

The department’s core functions encompass a wide range of financial activities, including:

• Budgeting: Developing and managing the city’s annual budget, ensuring alignment with strategic priorities and available resources. This involves forecasting revenues, allocating funds to various departments and projects, and monitoring expenditures throughout the fiscal year.
• Accounting and Financial Reporting: Maintaining accurate accounting records, preparing financial statements in accordance with Generally Accepted Accounting Principles (GAAP), and providing timely financial reports to city management, the City Council, and the public. Transparency and accountability are paramount.
• Treasury Management: Managing the city’s cash flow, investments, and debt. This includes maximizing investment returns while adhering to prudent risk management principles and ensuring sufficient liquidity to meet the city’s obligations.
• Procurement: Overseeing the procurement of goods and services, ensuring a fair and competitive bidding process while adhering to procurement policies and procedures. They strive to obtain the best value for the city’s taxpayers.
• Revenue Collection: Managing the collection of city revenues, including property taxes, fees, and other sources of income. They work to ensure efficient and accurate revenue collection processes.
• Payroll: Processing payroll for all city employees, ensuring timely and accurate payment of wages and benefits while complying with all applicable tax laws and regulations.

The Finance Department is committed to providing excellent customer service to both internal and external stakeholders. This includes responding to inquiries from city departments, vendors, and the public in a timely and professional manner. They often host workshops and provide resources to help residents understand the city’s finances.

In recent years, the Doral Finance Department has focused on implementing innovative technologies and best practices to improve efficiency and effectiveness. This includes adopting cloud-based accounting systems, streamlining procurement processes, and enhancing data analytics capabilities. These improvements allow the department to better track financial performance, identify potential risks, and make informed decisions.

The Finance Department is led by a dedicated team of professionals with expertise in accounting, finance, and public administration. They work closely with other city departments to ensure that financial considerations are integrated into all aspects of city operations. Their commitment to fiscal responsibility and sound financial management is essential to Doral’s continued success and ability to provide a high quality of life for its residents.