Accounting and Financial Reporting

The Accounting Division is comprised of the following sections:  Accounts Payable, Accounts Receivable, Cashiering, Fixed Assets, General Ledger, and Payroll.

Accounts Payable and Receivable

The Accounts Payable Section is in charge of processing vendor payments, refunds, and reimbursements in a timely and efficient manner.  It is also responsible for filing annual reports required by regulatory agencies such as the annual Form 1099, sales and use tax returns, and fuel tax returns.

The Accounts Receivable Section is responsible for billing various City revenues, such as Parking Citations, Administrative Citations, False Alarm Fees, Restitution, Grant Reimbursements, and other miscellaneous revenues.  The Section also facilitates the collection of past due billings in accordance with City policies and procedures.

Cashiering, Fixed Assets

The Cashiering Section is responsible for receiving various payments made to the City and ensuring they are properly recorded in the City’s financial system.  These payments include various development related permits and fees, business license payments, charges for recreation services, as well as remittances from other governmental agencies.

The Fixed Assets Section is responsible for identifying material assets of the City and ensuring the proper recording of these assets in the City’s financial system.  Each asset is assigned a unique identification number to facilitate tracking of the asset’s value, location, and funding source.  A physical inventory of the City’s fixed assets is performed on an annual basis.

General Ledger, Payroll

The General Ledger Section is responsible for maintaining the City’s financial system and chart of accounts.  The Section ensures compliance with the City’s financial policies and procedures, monitors and maintains the City’s system of internal controls, facilitates the issuance and administration of any City/District debt, reconciles the City’s monthly bank statements, ensures proper accounting of all grant revenue received by the City, maintains historical records of the City’s financial performance, and ensures all financial transactions are recorded in accordance with Generally Accepted Accounting Principles (GAAP).  The section also coordinates the City’s annual and special audits.

The Payroll Section is responsible for processing payroll checks for the City and the District on a bi-weekly basis.  The Section processes payroll for over 700 full- and part-time employees.  The section is also responsible for filing periodic, quarterly, and annual reports with taxing and regulatory agencies; processing payments for withheld taxes and employee deductions; and providing payroll statistics to various departments and agencies.

Comprehensive Annual Financial Report (CAFR):

The Comprehensive Annual Financial Report (CAFR) is prepared annually to provide the City Council, citizens, representatives of financial institutions, and others with detailed information concerning the financial condition and performance of the City of Rancho Cucamonga.  The report also provides assurance that the City presents fairly its financial position as verified by independent auditors.  

The CAFR includes the financial activities of the City of Rancho Cucamonga as well as the Rancho Cucamonga Fire Protection District (the District).  Although they are legally separate entities, the City Council also act as the governing board for the District which makes it in substance part of the government operation and are therefore included in the report. 

In addition to reporting financial activity, the CAFR also includes a summarization of significant milestones that were accomplished during the year by department, a summary of the City’s significant accounting policies, and statistical information. The CAFR is prepared by December of each year for the fiscal year ending the preceding June 30.  The City has received the Certificate of Achievement for Excellence in Financial Reporting for its CAFR since 1988.  The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports.

On January 18, 2017, a Comprehensive Annual Financial Report (CAFR) Educational Workshop was held with the City Council.  During the workshop, the City's external auditor, Lance, Soll & Lunghard, CPA's, walked through the auditor's responsibilities and process for the City's June 30, 2016 CAFR.  Finance staff then provided a summary of why the City prepares a CAFR, an overview of the three major sections of the CAFR, an overview of the relationship between the combining financial statements (entity-wide) and the basic financial statements (fund level), as well as a brief overview of the required accounting for the City's pension liabilities.  Following are links to both the auditors' presentation and the presentation by Finance staff.

CAFR Educational Workshop with City Council - Finance

CAFR Educational Workshop with City Council - Auditor

Below you will find links to the City’s CAFR for the most recent and four preceding years.

Comprehensive Annual Financial Report - June 30, 2017

Comprehensive Annual Financial Report - June 30, 2016

Comprehensive Annual Financial Report - June 30, 2015

Comprehensive Annual Financial Report - June 30, 2014

Comprehensive Annual Financial Report - June 30, 2013