City of Mansfield Finance
Department
Kelly Blankenship - Finance Director
Welcome
Welcome to the City of Mansfield's Finance Department on-line. Here you will find information regarding various aspects of Mansfield's financial situation and practices.
Awards
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Mansfield for its Comprehensive Financial Report (CAFR) for the year ended December 31, 2006. The Certificate of Achievement is the highest form of recognition for excellence in state and local government financial reporting. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized CAFR. The contents of this report must conform to program standards and must satisfy both Generally Accepted Accounting Principles and applicable legal requirements. A Certificate of Achievement is valid for one year only. The City of Mansfield has received this certificate for the last twenty-two (22) consecutive years (years ended 1985 - 2006). We believe our current reporting methods continue to conform to the requirements that result in such an honor.
Accounting System
and Internal Controls
The City's records are maintained on a cash basis during the year for all fund types. After closing the year, adjusting entries are prepared for the various funds to convert the cash basis records to the modified accrual basis of accounting for the proprietary fund types. The modified accrual basis of accounting requires that revenues be recognized when both measurable and available. Expenditures, other than interest and principal on long term debt, are recognized in the accounting period in which the fund liability is incurred. The accrual basis of accounting used for the proprietary fund recognizes revenues when earned and expenses when incurred.
Development of the City's accounting system included consideration of the internal control structure. The internal control structure is designed to provide reasonable assurance regarding:
1) The safeguarding of assets against loss from unauthorized use of disposition.
2) The reliability of financial records for preparing financial statements and maintaining accountability for assets.
The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived from its implementation and that the evaluation of costs and benefits requires estimates and judgments by management.
Budgetary
Controls
Budgetary control is maintained by the encumbrance of purchase accounts prior to the release of purchase orders to vendors. Purchase orders aren't issued when insufficient appropriations preclude the encumbrance of the amount of the purchase. Each department manager is furnished a monthly report showing the status of the budget accounts for which s/he is responsible. The report details monthly transactions and summarizes the budget balance available to be spent for goods and services.
Finance Department
City of Mansfield
30 North Diamond Street
Mansfield, Ohio 44902
Phone: (419) 755-9781
Email: Finance Director
Management
Funds & Groups
CAFR - 2005
CAFR - 2006
CAFR - 2007
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