Volusia County Finance Department

The Volusia County Finance Department is responsible for managing the financial resources of Volusia County, Florida. This encompasses a wide range of activities including budgeting, accounting, auditing, treasury management, and procurement. The department aims to ensure the county’s financial stability, transparency, and accountability to its citizens.

Key Functions

• Budgeting: The Finance Department plays a central role in the development and execution of the county’s annual budget. This involves working with all county departments to estimate revenues, prioritize spending requests, and allocate resources in accordance with the Board of County Commissioners’ strategic goals. They monitor budget performance throughout the year and make adjustments as needed.
• Accounting: Maintaining accurate and comprehensive financial records is a core function. This includes recording all financial transactions, preparing financial statements, and ensuring compliance with Generally Accepted Accounting Principles (GAAP) and other relevant regulations.
• Auditing: Both internal and external audits are coordinated through the Finance Department. Internal audits assess the effectiveness of internal controls and compliance with policies and procedures. External audits, conducted by independent firms, provide an objective assessment of the county’s financial statements.
• Treasury Management: The department manages the county’s cash flow and investments to maximize returns while minimizing risk. This involves forecasting cash needs, investing surplus funds in accordance with established policies, and managing banking relationships.
• Procurement: The Finance Department oversees the procurement of goods and services for the county. This includes developing procurement policies and procedures, soliciting bids and proposals, and awarding contracts to qualified vendors. The goal is to ensure that the county obtains the best value for its money while promoting fair and open competition.

Transparency and Accountability

The Volusia County Finance Department is committed to transparency and accountability in all of its activities. Financial information is made available to the public through various channels, including the county’s website. Citizens can access budget documents, financial statements, audit reports, and other relevant information. Regular financial reports are presented to the Board of County Commissioners and the public.

Importance to the Community

The Finance Department’s work is essential to the overall well-being of the Volusia County community. By ensuring sound financial management, the department helps to maintain the county’s credit rating, which allows it to borrow money at favorable interest rates for essential infrastructure projects and services. Effective financial management also ensures that taxpayer dollars are used efficiently and effectively to provide vital services to residents, such as public safety, transportation, parks and recreation, and social services.

The department continually strives to improve its processes and adopt best practices in financial management to better serve the citizens of Volusia County.