"A Department for Others"

The Finance Department under the direction of Finance Director, John M. Veres, CPA, sees to it that there is a careful and accurate accounting of monies budgeted for each department and that all state and regulatory guidelines are met. During the past year many improvements were made in the Finance Department, which works hand in hand with the Purchasing Department, to emulate their motto, "A Department for Others."

The Purchasing Department, headed by Bob Williams, reviews, validates and inputs all requisitions to create purchase orders. This department works closely with Finance and all Departments to analyze proposed purchases to achieve proper and timely expenditures. Purchasing also manages the asset identification and monitoring process.

Recent Noteworthy Developments:

• The City’s Tax Increment Financing program will generate over $700,000 of additional revenue in 2007 that will be applied to the Rockside Road debt service. The more than $700,000 was generated from just 4 of the City’s 10 TIF Districts. This $700,000 annual amount should grow to over $1,000,000 in the near future.
• Municipal Income Tax Receipts for 2007 are trending towards the $23,000,000 mark. In 2006 this amount was just over $21,000,000.
• Council decided in 2007 to not borrow for the Frontage Road E Project and the excess over estimate of the Rockside Road Central portion bid. These amounts will total nearly $3,000,000. Internal advances will be made to keep these amounts TIF eligible, including interest.

The City of Independence publishes a yearly mandated review of the year in a City Financial Report that documents the city's financial well-being. A copy of the report is available and distributed to each household within the City, or you can download the 2006 Financial Report pdf (186kb)

The City has recently made available a posting of Chapter 191, our City Income Tax Ordinances (pdf).

R.I.T.A.

Please visit the State Auditor's web site for a recent listing of the City's financial audit history.

The Finance Department is accessible to all residents and believes strong local government should be accountable to all of our residents. For more information, call City Hall at 216-524-4131.