Pima County Finance and Risk Management

Pima County’s Finance and Risk Management department plays a crucial role in ensuring the county’s fiscal health and protecting its assets. The department is responsible for a wide array of functions, including budget development and management, accounting, procurement, risk management, and debt management. These functions are vital for the efficient and transparent operation of county government and the delivery of essential services to its residents.

Financial Planning and Budgeting

The department spearheads the annual budget process, working collaboratively with various county departments to develop a balanced budget that aligns with the county’s strategic priorities and community needs. This involves forecasting revenues, analyzing expenditure requests, and making recommendations to the Board of Supervisors. Once approved, the department monitors budget performance throughout the year, ensuring that spending remains within allocated limits and that financial resources are used effectively.

Accounting and Financial Reporting

Maintaining accurate and reliable financial records is a core function of the department. It oversees all accounting operations, including accounts payable, accounts receivable, payroll, and grant accounting. The department prepares comprehensive financial reports in accordance with Generally Accepted Accounting Principles (GAAP), providing stakeholders with a clear picture of the county’s financial position and performance. These reports are essential for transparency and accountability.

Procurement and Contracts

The Procurement Division is responsible for acquiring goods and services needed by county departments through a competitive and transparent bidding process. This division ensures compliance with all applicable procurement laws and regulations, securing the best possible value for taxpayers’ money. It also manages contracts, ensuring that vendors meet their contractual obligations and that the county’s interests are protected.

Risk Management

The Risk Management Division is dedicated to identifying, assessing, and mitigating risks that could potentially impact the county’s assets, employees, and operations. This involves managing insurance programs, handling claims against the county, and implementing safety programs to reduce workplace accidents and injuries. By proactively managing risks, the department aims to minimize potential financial losses and protect the county’s resources.

Debt Management

The department manages the county’s debt portfolio, ensuring that borrowing is undertaken prudently and that debt obligations are met in a timely manner. This includes issuing bonds to finance capital projects, managing interest rate risk, and monitoring debt covenants. Sound debt management practices are essential for maintaining the county’s credit rating and ensuring access to affordable financing for future infrastructure needs.

Commitment to Transparency and Accountability

Pima County Finance and Risk Management is committed to transparency and accountability in all its operations. The department provides access to financial information through its website and actively engages with the public to promote understanding of the county’s finances. By fostering transparency and accountability, the department strengthens public trust and ensures that taxpayer dollars are used responsibly.