The Finance Department is responsible for handling all City financial matters including, among others, payroll, investments, accounts payable, bank deposits, and account reconciliation. They work closely with all departments to accomplish this function. The department also is responsible for helping the Office of the City Manager prepare the annual municipal budget, which covers a fiscal year beginning on July 1 and ending on June 30.
The Finance Department guides the City through an annual audit. For the past 24 years, the City of Richmond Heights has received the “Certificate of Excellence in Financial Reporting” award from the Government Finance Officers Association (GFOA) of the United States and Canada. The requirement for this award is to publish an easily readable and efficiently organized comprehensive annual financial report with contents that conform to public standards.