(Amended by Ordinance Nos. 185652 and 185807, effective December 12, 2012.)

A.  The Bureau of Financial Services shall be supervised by a Director, who shall be the Chief Financial Officer (CFO) of the City, and who shall report to the CAO.  The Bureau of Financial Services shall consist of the following divisions: Accounting; and Public Finance and Treasury. The Bureau of Financial Services is responsible for treasury and debt management, deferred compensation, accounting and payroll, grants management and assigned grant funds, pension oversight and other services or responsibilities the Council or the CAO may assign.

B.  The Accounting Division shall be supervised by a Controller who reports to the CFO and shall have specific authority to:

1.  Establish, maintain and enforce citywide accounting policies, practices, rules and regulations.  The Controller shall be the final authority for interpretations of accounting and financial reporting policies and practices.

2.  Authorize reports that disclose the fiscal condition of the City to external users including the Comprehensive Annual Financial Report (CAFR), the Single Audit Report, and other reports required by federal, state and local regulations.

3.  Conduct or contract with public accounting firms to conduct financial and compliance audits and other tests to determine compliance with citywide accounting and financial reporting policies and current professional standards and adequacy of internal controls over accounting transactions, the cost of which shall be paid by the bureau being audited.

C.  Public Finance and Treasury Division shall be supervised by the City Treasurer, who shall report to the CFO.  The Treasurer shall have those authorities and responsibilities as described in PCC Chapter 3.08.  Debt Management within the Public Finance and Treasury Division, shall be supervised by the Debt Manager who shall report to the City Treasurer.  Debt Management is responsible for managing the City’s debt program to ensure access to capital markets including long- and short-term capital financing programs, providing expert advice to City bureaus and officers regarding placement of debt and capital financing issues, and performing other duties as assigned.  The Debt Manager is responsible for assuring that sales or leasing agreements entered into by the City comply with applicable Federal tax exemption regulations for funding and financing.