The Finance Department is responsible for the review and preparation of the annual operating and capital budgets, revenue and expenditure forecasting, legislative analysis, cash management, operating the enterprise-wide accounting and payroll systems, financial reporting, investments, debt financing, general financial analysis, the coordination of internal and external audits, and centralized purchasing management.
The County uses its operating budget as a way to monitor revenue and expenses throughout the County, as well as improve financial management and strategic planning.
Capital Improvement Program / Capital Budget
The Capital Improvement Program (CIP) allows the County to fund important projects that provide citizens a variety of services. These projects can range from the purchase of major equipment to the construction of new facilities or the renovation of existing facilities to improve efficiency.
Accounting and Financial Reporting
The County-wide Accounting Systems ensure that financial transactions are processed expeditiously and accurately. It also provides uniform reporting standards and strengthens accounting practices. The County added an internal audit function in 2009 to provide an independent appraisal function to review and evaluate the adequacy and effectiveness of Ramsey County's system of internal controls. Financial Reports are prepared on an annual basis and present the County's financial position, along with historical trend data and demographic information.
The County funds are invested prudently to assure preservation of principal, provide needed liquidity for daily cash requirements and provide an acceptable rate of return. Investments are made in accordance with the County's Investment Policy. Management of the County's long-term debt with the goal of maintaining the strongest credit rating in accordance with the County's Debt Policy. The management of cash entails establishing the banking relationships and putting in tools to efficiently manage the County funds. Analyze, forecast and report on County investments and debt conditions to all necessary parties.
County Procurement shall strive to acquire goods and services at the lowest cost, consistent with prevailing economic conditions, appropriate standards of quality and continuity of service, while establishing and maintaining a reputation for open access, transparency, fairness and integrity. Acquisitions shall be made in a manner and method that provides efficient and effective expenditure of County funds with maximum protection of County taxpayer interests. Procurement shall actively promote the County’s Small Business Enterprise (SBE) program and shall comply fully with all applicable Federal, State and Local laws, County Administrative Code, and Procurement rules, regulations, processes and procedures.
Sales and Use Tax
Beginning January 1, 2014 Ramsey County will have a sales tax status change for most operations. In July, 2013 the State of Minnesota revised statute 297A.70 which exempts County governments from the general state sales tax of 6.875% on most goods and services.
Memo to Vendors
New ST-3 form