Finance

Overview

The primary responsibility of the Finance Department is to safeguard the City's assets, maximize the use of City revenue and provide accurate and timely information to the City Council, City Manager and to the citizens of West Melbourne. The department maintains the integrity of the financial records of the City in accordance with generally accepted accounting principles (GAAP) and the Governmental Accounting Standards Board (GASB).

Business Tax Receipts

The City Manager has designated the Finance Director as the Business Tax Official. This department therefore assumes responsibility for enforcement of the business tax receipt ordinance, including the issuance and control of business tax receipts.

Annual Budgets

• Fiscal Year 2018 to 2019 Adopted Budget (PDF)
• Fiscal Year 2017 to 2018 Adopted Budget (PDF)

Annual Financial Reports

• Comprehensive Annual Financial Report Fiscal Year September 30, 2017 (PDF)
• Comprehensive Annual Financial Report Fiscal Year September 30, 2016 (PDF) 

Recent Bond Ratings

• Fitch Ratings (PDF)
• Standard and Poor's Rating (PDF)

State Annual Financial Reports

Section 218.32, Florida Statues, requires each local government to submit an annual financial report to the State Chief Financial Officer (CFO) within 9 months of fiscal year end. Each local governmental entity's website must provide a link to the CFO website to view the entity's annual financial report. 

Police Pension Plan Information

• Actuarial Summary Fact Sheet
• Fiscal Year 2017 to 2018 Pension Plan Line Item Expenses (PDF)
• FY 2018-2019 Budget (PDF)
• Five Year Investment Return and Asset Allocation Summaries (PDF)
• October 2017 Actuarial Valuation Report (PDF)
• Police Pension Trust Statement of Investment Policy (PDF)
• Senate Bill 534 Disclosure (PDF)