The function of the Accounting Division is to maintain accountability for all financial transactions of the City, to implement and monitor internal control procedures and to maintain an efficient financial accounting and reporting system that provides accurate, reliable and timely information to management, City Council and the citizens of Palm Bay. The Accounting Division includes General Accounting, Utility Accounting, Grant Accounting, Fixed Asset Accounting, and Accounts Payable.

Accounting Policies and Internal Control

The City's Accounting policies conform to generally accepted accounting principles as applicable to governments. The modified accrual basis of accounting is followed by the governmental, expendable trust and agency funds. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual, i.e., both measurable and available. "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures, other than unmatured interest on long-term debt and certain compensated absences and claims and judgments, are recorded when the liability is incurred.

The accrual basis of accounting is used by proprietary, pension and nonexpendable trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.

The internal control procedures incorporated in the accounting system are designed to safeguard assets against loss from unauthorized use or disposition and to assure the reliability of the financial records.

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General Accounting

The General Ledger Section of the Accounting Division is one of the sections of General Accounting. General Ledger oversees the financial recording and reporting for the City of Palm Bay. General Ledger is responsible for: Creating and monitoring the City’s chart of accounts; Recording and updating journal entries prepared by other departments within the City; Reconciling cash balances for the City’s main bank accounts; Assisting and formulating reports for the City Council, senior management, other departments, internal and external auditors and the general public; Preparation of the Comprehensive Annual Financial Report (CAFR).

For additional information or question, please contact (321) 952-3211.

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Accounts Payable

• Centrally controlled vendor files
• 1099 processing and control from central vendor file
• Employee advances/reimbursements
• Cash, encumbrance and accrual reporting automated general ledger
• Available funds checking
• Vendor payment history
• Weekly payment cycles

The Accounts Payable Section of the Accounting Division is responsible for verifying and processing requests for payments in accordance with established guidelines and control procedures. Authorization for payment must be indicated on all documents submitted for processing. Types of payment requests include vendor invoices, check requests, petty cash reimbursement requests, and travel expense reports.

Vendor questions relating to the payment of an invoice should be directed to the department that ordered the service and/or product. To expedite the research, please have available detailed information such as: the invoice number, date, amount, and purchase order number.

If you still feel that the situation has not been remedied after contacting the department's representative, then contact a staff member in Accounts Payable.

When contacting an Accounts Payable staff member, you will need your purchase order number, the department(s) and the employees that were contacted. You may also be asked to provide copies of the invoices in question.

The Accounts Payable staff will work to resolve your problem as quickly as possible.

Accounts Payable Check Cutting Policy

Accounts Payable cut checks weekly on Fridays. To promote efficiency in the Accounts Payable Section, departments must have check requests and/or vendor invoices to Accounts Payable by noon on Tuesday.

For additional information or questions, please contact Accounts Payable at (321) 952-3416, (321) 952-3400 ext. 5537 or email ap@pbfl.org.

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Tax Exempt Certificate

To request the City of Palm Bay's Tax Exempt Certificate please e-mail us at:

accounting@palmbayflorida.org

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Related Links

• Gov Accounting Standards Board

• GSA Per Diem Rates