809 Pioneer Road, P.O. Box 71267, Fairbanks, AK  99707-1267
         
907-459-1376 (ph) - 907-459-1379 (fax)
          finance@co.fairbanks.ak.us


 
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     TREASURY/BUDGET

Treasury/Budget Statistical Accomplishments for FY 2010


FY 2009–2010 Budget
Fairbanks North Star Borough
 PROGRAM BUDGET SUMMARY

DEPARTMENT OF FINANCIAL SERVICES – TREASURY BUDGET DIVISION

MISSION/Program Description  

THE MISSION OF THE TREASURY AND BUDGET DIVISION IS TO COLLECT AND INVEST BOROUGH FUNDS, PREPARE THE ANNUAL OPERATING BUDGET, AND TO ACCOUNT FOR ALL FUNDS RECEIVED IN AN EFFICIENT AND EFFECTIVE MANNER.  It is the responsibility of the Treasury and Budget Division to; coordinate the development of the annual Borough operating budget; calculate the annual mill levies for all Borough taxing authorities; bill, dispatch, collect, and disburse annual property tax and related penalty and interest for the Borough, City of Fairbanks, and City of North Pole; regulate the collection of Borough Hotel-Motel, Alcoholic Beverage and Tobacco excise tax; collect other revenues in accordance with the FNSB Code of Ordinances; ensure accurate distribution of property tax and other revenues to the Road and Fire Service Area accounts; review Treasury deposits to assure maximum cash flow; invest Treasury funds to minimize risk and maintain sufficient liquidity; prepare State data requests and serve as the local contact to the State for revenue sharing programs and debt service reimbursements; and analyze the revenue impact of proposed local, state, and federal legislation.   

Major Long-Term Issues and Concerns 

Funding of local government services from differing revenue sources continues to be evaluated.  Collection of revenue with alternative systems for the payment of services by credit card, and other venues, continues to be researched. 

Objectives for FY 2010 

    Provide prompt and courteous customer service to the general public and outside entities.

    Continue to process all property tax payments in-house, without the use of vendor processing services.

    Continue to update and issue a comprehensive set of cash handling procedures to ensure uniformity of practices among departments.

    Continue to research alternative systems for the payment of services by credit card and other venues. 

Significant Budget Changes 

    The FY 2010 budget reflects only cost of living adjustments, union and management longevity, and benefit rate changes. 

Previous Year’s Accomplishments 

   Received 19th Distinguished Budget Presentation Award from the Government Financial Officers Association for the FY 2009 Budget.

     Maintained timely and accurate revenue receipting.

     Continued a set schedule for safe combination changes.