To earn and maintain public trust by practicing strict internal controls in compliance with City policies, State, and federal laws, governmental accounting and regulatory requirements and doing so in a professional and courteous manner.
Fitch Ratings has upgraded the City of San Benito's financial standing to AA from A+ in August 2020, which reflects the City's future growth prospects, strong gap-closing capacity, and moderate fixed costs. Moody's Ratings has reaffirmed the City's financial standing to A1 and S&P Ratings has reaffirmed the City's financial standing to A. Both during the month of September 2020. These are the three nationally recognized statistical rating organizations designated by the U.S. Securities and Exchange Commission in 1975.
The Finance Department plans, directs and coordinates the financial affairs of the City in accordance with specific objectives established by legal and professional standards. The department maintains financial records, safeguards the assets of the City and provides management with information necessary for sound decisions. It is responsible for the day-to-day and strategic operations of the City in these areas:
- Accounts payable
- Budget development and compliance
- Business office
- Debt issuance and administration
- Financial reporting
- Grant management reporting
- Internal auditing
- Cash and investment management
- Payroll administration
- Vital Statistics
The Finance Department maintains an effective system of internal controls to ensure the safeguarding of assets and to monitor compliance with policies and procedures established by City management. Under the direction and supervision of the Finance Director, the department staff consists of an Accountant, Accounting Assistant, two Accounting Clerks, Accounts Payable, Utility Billing and three Cashiers.