The Finance Division functions include a variety of required financial reporting to the City Council, management, State of California, County of Los Angeles, Department of Finance and other outside entities. The Finance/IS Manager oversees the financial obligations of the City and is responsible for the preparation of the City's financial reports, the State Controller's Report, the Statement of Indebtedness, the overall functions of the division, the coordination of the annual audit of the City's financial transactions, and preparation of reports for independent audits by the County of Los Angeles, MTA, and the State.
The City has an Investment Policy approved annually by the City Council. The main criteria for selecting investments are: Safety, Liquidity and Yield. The City recognizes that it has an equal obligation to be aware of the social and political impacts of its investments, and, subsequently, to act responsibly in making its financial decisions.