1 South Sandusky Street
During business hours, 740-203-1201 or 740-203-1001 to have your call directed to the appropriate Finance Department representative
Questions or Comment
Questions or Comment
Utilities Billing Department
740-203-1250 [x 4]
Questions or Comment
The Finance Department provides Delaware residents with a timely and accurate accounting of the City's receipts and disbursements. The department is responsible for maintaining a comprehensive accounting system that includes budgeting, centralized accounting, financial reporting, and evaluating program performance.Various staff specialists oversee the duties of the treasury, income tax administration, utility billing, debt management, payroll administration, fixed asset reporting, collections, and other financial customer service. In addition, this department coordinates the annual audit conducted or overseen by the Auditor of State of Ohio of the City's financial statements.
Effective forecasting of current cash requirements allows for the investment of available interim cash resources. Rates have fluctuated drastically since 2000. General fund interest went from $486 thousand in 2000 to $216 thousand in 2004, back up to $767 thousand in 2007, then down to $334 thousand in 2008. In 2012, the City received just over $26 thousand. Rates for 2013 are less than .2 percent. Managing resources becomes more difficult with such a low return on investment and almost as difficult with the uncertainty of future rates.
Ohio Senate Bill 81 and GASB 31 guide the investment policy of the City, which describe what types of investments and repurchase agreements are allowable.
The City's investment policy stipulates that investments be fully secured by pledged collateral or U.S. government guarantee. All securities, including repurchase agreements and pledged collateral are delivered to a third party safekeeping account in the name of the City.
The City utilizes several types of debt instruments, including short-term notes, revenue bonds, and general obligation bonds. The City has issued several short-term notes for purchase/improvements to the City's Public Works building, Glenn Road construction, and Fire Station 303 construction.
The City also has a loan with Ohio Water Development Authority for $25 million [with a balance at 12/31/12 of $20.1 million] for the construction of the new Wastewater Treatment Expansion Facility, just southeast of downtown Delaware near the Olentangy River. This has doubled the capacity of wastewater treatment the city handled in past years. The City is in process of expanding our Water Treatment Facility. This $32 million project should be finished in 2014/2015.
Accounting for the City is mainly handled by three people. A Fiscal Specialist is in charge of Accounts Payable and an Accounting Specialist is in charge of Payroll and assists the City Accountant in recording Revenues.
The City utilizes a purchase order system for expenditures exceeding $250. All expenditures require being appropriated, and expenditures exceeding $250 also require being encumbered prior to purchase. In 2012, the department processed about $78.7 million in payroll and non-payroll related expenditures. The Finance department processed receipts for over $89.1 million in revenue. [Note: these amounts reflect rollovers in bond anticipation notes. See Comprehensive Annual Financial Report for more details]
Until 2009, the City had an income tax rate of 1.4 %. Due to the passing of a .15 mil YMCA/Recreation vote, this increased to 1.55 % in January 2009. For January 2011, the rate is now 1.855 % with the passage of a .3 mil Fire/EMS levy. Filing an annual return is required for City residents and non-residents whose income tax is not withheld correctly. The City's 5-person Income Tax department processes some 13,000 income tax returns annually. Income Tax revenues account for about half of all the City's General Fund revenues. In 2012, the tax department posted over $18 million for income taxes collected.
The City's Utility department bills residents and businesses monthly for Water, Sewer, Storm Sewer, and Refuse services. The 3-person department handles close to 13,000 bills, and as many receipts, each month. These billings and collections amounted to over $15.6 million for 2012. [Note: we offer automatic withdrawal for utility payments. To download the application (PDF), click here.
The City Accountant prepares the Comprehensive Annual Financial Report [CAFR], and assists with budgeting, billing, and receipting. GASB 34 reporting requirements were implemented for the City's 2003 financial statements and the City was awarded the Certificate of Achievement for Excellence in Financial Reporting for the 2002 through 2009 CAFRs. The 2004-2009 CAFRs are available on this website.
Dean Stelzer began in 1990 as the City Finance Director. Since that time, Dean has served as Finance Director, Assistant City Manager and Acting City Manager.