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The official blog for the Town of Parker.

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Feb 26

Meet Our Department: Finance

Posted on February 26, 2018 at 9:41 AM by Ryne Dittmer

FinanceDept
The Town of Parker’s Finance Department is responsible for managing the Town's financial resources. Departmental responsibilities include accounting and financial reporting, budget and finance, as well as purchasing and sales tax administration.


Main office and contact information:
Address: Parker Town Hall, 20120 E. Mainstreet
Phone: 303.841.0353

Department website:
www.ParkerOnline.org/Finance

Number of Employees:
13

Longest serving employee and years on staff:
Cheryl Bylsma, 16 years

Department overview:
The Finance Department is responsible for managing the Town of Parker's financial resources. Departmental responsibilities include accounting and financial reporting, budget and finance, as well as purchasing and sales tax administration.

Department divisions:
Accounting and Financial Reporting: The Accounting and Financial Reporting Division manages all accounting functions of the Town including cash receipts, accounts receivable, accounts payable, payroll, general ledger and preparation of the Comprehensive Annual Financial Report (CAFR).

Budget and Finance: The Town's annual budget is developed to ensure that all services to our citizens, businesses and visitors are maintained, while preserving the Town's long-term financial health. The Town prepares an annual budget with the fiscal year beginning on Jan. 1 and ending on Dec. 31.

Purchasing: Purchasing is responsible for overseeing the acquisition of products and services (except insurance, employee benefits and capital projects) in accordance with the Town's purchasing policies, as well as applicable federal and state laws. It provides a centralized site for vendor contacts, pricing, sourcing, quotations, order placement and related problem-solving. The Purchasing Division is a member of the National Institute of Governmental Purchasing (NIGP), which is dedicated to the establishment and maintenance of ethical standards and professionalism in public purchasing.

Sales Tax Administration: The Town of Parker has been collecting its own sales tax since 2003. Directly receiving sales tax dollars promotes the highest level of service in areas such as public works, parks and recreation, public safety and other community services.

How does this department impact daily life for Parker residents?
 
The department impacts the daily life of Parker residents through its fiscal responsibility and oversight of all the Town’s financial resources. This includes enforcement of sales tax ordinances and negotiating the best rates for the purchase of products and services.

What is the most common question received by this department and what is the answer?
 
We have two common questions. The first is, “What is the sales tax rate in Parker?” The answer to that question is the Town of Parker’s sales tax rate is 3 percent — 2.5 percent supports general fund operating departments such as public safety, public works and administration. 
The remaining 0.5 percent supports parks and recreation activities.

The second common question is, “How do we select vendors and contractors?”
  The answer to that question is we make those determinations through a formal, open, fair and transparent competitive process.

What would residents be surprised to learn about this department?
 
While the department is very focused on financial transactions from an internal support perspective, we have a considerable amount of external/community outreach through our sales tax activities. One of the Sales Tax Division functions is the performance of audits to ensure businesses comply with the Town ordinances. We approach those audits as a way to help businesses understand the process. The educational approach is also why we offer quarterly sales tax seminars for new and/or existing businesses. This provides businesses the opportunity to ask questions and learn about Parker’s sales tax ordinances.

How can residents get involved with the Finance Department?
Residents may apply for the Investment Advisory Committee. The Investment Advisory Committee reviews and monitors the Town’s cash management and investment results, develops and recommends investment policies to the Town Council, and assists in the selection of investment facilitators and managers. If you are interested in becoming part of this committee, please contact the Finance Department at 303.841.0353.

What else should residents know about this department?
  
Please ask us questions if you have concerns or need to understand how one of the Town’s financial processes works. We are here to serve the Town of Parker citizens.