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Finance Department

Mandate

• Under the guidance and direction of the Director of Finance, the mandate of the Finance Department is to achieve excellence in customer service through the efficient and effective use of technology and personal service.  Also, to provide operational efficiency, financial planning and accountability through the application of sound accounting practices and internal control.
• With the support of a Deputy Director, Accountant, four Accounting Clerks and a Receptionist the Finance Department is responsible for the following duties
  • Financial records reporting and safekeeping.
  • Investment of municipal funds.
  • Advice and guidance to Council and Administration on financial matters.
  • Financial planning and budget development and analysis.
  • Property tax and utility user fee notification and collection.
  • Accounts payable and receivable.
  • Payroll, pension and benefits administration.
  • Records maintenance of tickets, fines and other municipal business.

Accounts Payable

• The Accounts Payable function of the Finance Department is responsible for paying invoices to suppliers and contractors of the City of Salmon Arm.  All invoices must reference a purchase order to avoid payment delays.  The purchase order must contain the following information
  • Date:
  • Suppier/Vendor name and Address;
  • Description of materials or services purchased with applicable pricing and taxes;
  • General ledger account no. to charge expenditure to;
  • Aggregate cost of requisition; and
  • Authorized signature.
• The City of Salmon Arm seeks to obtain services or make its purchases from reliable suppliers, recognizing that although price is important, other elements of value, including quality, ability to deliver at required times, service and customer relations, constitute total cost to the City.  City of Salmon Arm local suppliers will be given preference whenever possible.    
• Suppliers and contractors are selected to ensure a high degree of flexibility, a good level of competition and a constant awareness of product development and technical improvements.  They must possess high ethical standards, quality service, valid City of Salmon Arm business licence, and a good record of adhering to specifications and maintaining delivery schedules.
• Payment Terms
  • Payments are “net 30 days” from date of invoice, providing that an invoice is submitted, and receipt of acceptable materials or services is verified. There are situations where payment shall be made earlier, if such early payment is required in order to take advantage of discount terms and conditions
  • Payments are made twice a month on the 10^th & 25^th
  • Payments shall be mailed directly to the payee, unless requested otherwise
  • Note: Please have the purchase order number and invoice number handy to assist with enquiries

Contacts

	2009 Due Dates 2009 Dates to Remember:
	Annual Grants The City of Salmon Arm supports voluntary non-profit organizations each year by allocating, through the Annual Budget process, a contribution to the Shuswap Community Foundation for distribution as cash grants within the community
	Annual Tax Sale Any property with taxes unpaid at the end of three years will be sold at the City of Salmon Arm’s annual tax sale.
	Dog Licences All dogs over the age of six months, living within the City of Salmon Arm boundaries, must be licensed.
	Frontage Taxes The Water and Sewer Frontage levy is a tax charged to provide for the capital infrastructure of the water and sewer system
	Home Owner Grant The Provincial Home Owner Grant is designed to help homeowners reduce their property taxes.
	Long Line Ups? Here are some options that will eliminate having to wait in line at tax and utility due dates.
	Payment Options What Payment Methods are Accepted?Cheque, Cash, and Debit Card
	Parcel Taxes The City of Salmon Arm’s 2003 budget is affected by rising costs as noted below. The additional costs resulted in a budget deficit, which must be eliminated.
	Permissive Property Tax Exemptions Some properties are automatically exempt from property taxes, under Division 6 of the Community Charter
	Property Taxes General property taxation is the single most important source of revenue for Local Governments
	Property Tax Deferment Program The Province of BC’s Property Tax Deferment Program allows you to defer payment of annual property taxes on your home if you are:
	Property Taxes Paid by Mortgagor Many property owners choose to have their property taxes paid by their Mortgage Company or Financial Institution (i.e. the Mortgagor).
	Property Tax Prepayment Plan The Property Tax Prepayment Plan is an optional payment plan which provides an opportunity for taxpayers to make 10 equal monthly prepayments for the following year’s estimated property taxes
	RCMP False Security Alarms The City of Salmon Arm adopted the City of Salmon Arm False Alarm Security System Regulation Bylaw No. 3056on January 1st, 2001 to address the issue of RCMP Officers attending non-emergency events such as false security alarms.
	Selling your Property? If you sell your property, the lawyer or notary handling the sale will allocate the property taxes between purchaser and vendor.
	Water and Sewer Utilities Most residential properties in Salmon Arm are billed for water and sewer annually

Other Documents and Financial Statements

• Finance Dept
• Financial Statements