The department of finance and administrative services exists to ensure the safekeeping and responsible use of public assets entrusted to the Town of Los Altos Hills. On an annual basis, the City Council adopts a budgetary document that provides a financial framework necessary to conduct the Town’s business. With the adopted budget, and under the direction of the City Manager, the department ensures that the Town’s resources (financial, personnel, equipment, and facilities) are available to provide the community with a high level of municipal services. An independent audit of the Town’s records is administered each Autumn to assure the Town’s finances are presented consistent with accepted accounting standards, applicable laws, and are free of material errors.
On a daily basis, the department’s varied responsibilities include cash receipting, business licensing, accounts payable, accounts receivable, planning, building and engineering development deposits, sewer reimbursement agreements, employee payroll, benefits, recruitment and retention, and contract management. The department directly manages contractors that provide for on-going investment portfolio advisory services, technology support, and facility maintenance.
Finance & Investment Committee
The department actively seeks the input of the City Council appointed Finance and Investment Committee (FIC) on matters of significant financial importance to the Town. The FIC has been instrumental in sewer rate reviews, financial planning for unfunded liabilities, and the annual review of the Town’s investment policy.