The Accounting and Financial Services Division provides accounting and financial reporting services to City management and staff, City Council, Sunnyvale residents and businesses and regulatory agencies to enable them to make informed decisions about the financial affairs of the City. The division also provides payroll and accounts payable services to support City operations.
In order to accurately record the City’s financial transactions, division staff maintains the City’s financial software, including daily balancing and structural and security set-up. Other activities include providing financial system reports on a regular basis to City staff along with query tools for use on an ad-hoc basis. Accounting for the City’s fiscal transactions is done in accordance with generally accepted accounting principles for governmental entities. Staff manages the independent financial audit of the City as required by City Charter and produces the Comprehensive Annual Financial Report (CAFR) and Redevelopment Agency and Sunnyvale Financing Authority annual financial statements. In addition to these financial statements, staff in this program prepares six required regulatory reports and the Statement of Indebtedness for the Redevelopment Agency. Routine monthly activities include reconciling all bank and general ledger accounts as well as monitoring and requesting reimbursement for over 330 grants and capital projects on a timely basis to ensure that the City maintains optimum cash flow.
Finally, the Accounting and Financial Services Division also includes activities associated with managing and preparing the payroll and payment for all goods and services required to support the City’s operations. Staff processes payments to about 1,200 employees on a bi-weekly basis. This function includes issuing approximately 31,000 checks annually, completing all regulatory reports to state and federal agencies and the California Public Employees Retirement System, and managing and maintaining the City’s computerized payroll system. The Accounts Payable function includes paying supplier invoices timely, accurately, and in compliance with contract terms and conditions and City policies. Staff also is responsible for all regulatory reports related to vendor payments. Because of the volume of activity in these two areas, emphasis is on efficiency and implementing process improvements including the expanded use of technology.
City Comprehensive Annual Financial Report (CAFR)