Administrative Business

Responsibilities

The Administrative Business Department provides fiscal analysis and management services to the Council Administrator, City Council and all city departments throughout the organization. This department is responsible for all accounting records and reports including the Annual Financial Report.

Managing Assets

The Administrative Business Department manages

Accounts payable
Accounts receivable
Administration of special assessments.
Cash flows
City's general ledger
Investment activity
Treasury functions

Budget

The division assists in the budget and five-year capital improvement plan compilation and development, the issuance of bonds and other indebtedness of the city, risk management activities and legislative activities as they pertain to protecting state-level revenue sources.

The 2019 Budget

Find out how the City prioritizes and budgets its money and learn how you can participate in the process.

Independent Accounting / Audit

Due to the importance of proper stewardship of public money, the State of Minnesota requires cities to have an outside, independent, accounting firm audit the City of Red Wing's financial operations on an annual basis.

The audit provides for:

Compliance with laws and regulations
Financial reporting
Operational and accounting processes
Testing of internal controls

Reasonable Assurance

The audit is intended to provide reasonable assurance that the financial statements of the City of Red Wing are not materially misstated and that accounting is in accordance with Generally Accepted Accounting Principles (GAAP). This audit is presented annually to the City Council by the independent auditors in a series of documents with any notes of concern indicated.