Find Colorado Springs, Colorado finance departments, DFS, and DOF. Finance departments provide information on financial services, finance, taxation, and banking.
Colorado Springs Finance Departments are government agencies responsible for financial administration, including accounting, cash management, investment management, debt management, the preparation of financial statements, and the enforcement of financial controls in Colorado Springs, CO. In most cases, a Finance Director or Controller appointed by the chief executive heads the Colorado Springs Department of Finance. An elected or appointed Treasurer may also head the department. At the or local government level, the Finance Dept may be the parent agency for divisions charged with Colorado Springs assessment, tax collection, and purchasing. At the Colorado State level, the department may have regulatory responsibilities for banking or insurance.You may contact the Department of Finance for questions about:
Colorado Springs Finance Departments record all government financial transactions as part of their accounting responsibilities. These transactions include accounts payable, accounts receivable, payroll, and the processing of employee benefits. Colorado Springs Departments of Finance are also responsible for periodically reconciling bank statements to the general ledger in order to ensure the accuracy of financial records. Each year, Finance Departments prepare annual financial statements based on financial activity for the prior year. The Colorado Springs financial statements are audited by an outside agency to verify that they are a fair representation of the organization's financial situation.Financial Reporting & Controls
Finance Departments develop and implement internal controls to ensure transparency in financial management, and to prevent fraud and the misappropriation of funds. Colorado Springs Finance Departments enforce rules for approving and processing payments, handling cash, and other procedures. Part of the annual audit process involves reviewing the organization's compliance with internal controls.Colorado Springs Unclaimed Property
Colorado Springs Finance Departments provide information on unclaimed property. Unclaimed funds and property in Colorado Springs may be recoverable by their rightful owners in Colorado. Finance Departments provide access to databases for discovering Colorado Springs unclaimed property and information about how to recover found cash and property.Government Bonds & Debt Offerings
Finance Departments manage the issuance of Colorado Springs bonds and other forms of debt that are used to pay for infrastructure improvements and other public projects. Finance Departments size the bond offering and prepare the Official Statement, which, along with the annual financial statement, provides rating agencies with a basis for assigning a credit rating to the bonds.Colorado Springs Government Investments
Finance Departments are responsible for the organization's cash management and investments. The Colorado Springs Department of Finance must balance the need for cash on hand to pay for current activities and obligations, with the need for maximizing investment returns. Most Finance Departments have adopted policies on cash management and investment.