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Financial Facts and Figures


Investments & Interim Deposits & Pooled Cash
The City of Ashland's investment portfolio consists of a size of approximately $10 million. This portfolio is in compliance with the city's investment policy.
The city's investment objectives are:1) Safety, 2)Liquidity and 3) Yield

The Ohio Revised Code requires the City Treasurer to attend mandatory continued education training to be in compliance with section 135 of the Ohio Revised Code.

 As of July 31, 2008,  the average maturity of the investment portfolio is 206.75 days.
 
Active Cash Deposits - The cash balance is what is used to pay the City's bills such as payroll, material supplies, utilities, capital outlay and miscellaneous.

As of July 31, 2008:

Beginning Balance  $ 11.08 million
Revenue Collected + 28.45 million
Expenses                - 28.51 million
Contract Expenses  -  2.02 million
Ending Balance       $   9.00 million

The General Fund is the chief operating fund for the city. As of July 31, 2008:

Beginning Balance    $2.00   million
Receipts                 + 5.98   million
Expenses                -  6.07  million
Contract Expenses  -  .114  million
Ending Balance          1.79   million

Debt- City of Ashland has General Obligation Bond Anticipation Notes and General Obligation Bond. The  Security Exchange Commission (SEC) and Ohio Municipal Advisory Council (OMAC) monitors the City of Ashland debt status on an annual basis.

Credit Rating- Moody's is the credit rating agency which determines the financial credit status which was performed November 2003. The City's rating from 2003 was A1.

Basic Finance Functions- Preparation of the annual tax budget and appropriation, preparation of the 5 year capital improvement plan, preparation of the annual financial report in conformance with generally accepted accounting principles and the Governmental Accounting Standards Board. Provide accurate records of all monies received and expended. Prepare city payroll and maintain all records associated with payroll. Other duties include the collection of Ambulance and Miscellaneous Billings, Inventory, Fixed assets, Auction, Grants Management, Accounts Payable and Accounts Receivable, Banking and Deposits.

2007 Annual Finance Division Facts & Figures - Currently 39% of city employees participate in the direct deposit payroll process. There were over 3000 receipts deposited, 6000 ambulance and miscellaneous billing generated, 9000 vendor checks processed, 454 purchase orders executed in the Finance Division. 


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Finance Division
206 Claremont Ave.
City of Ashland, Ohio 44805
419-289-8170
Monday - Friday 7:30 a.m. to 4:00 p.m.
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