Financial Services

Responsibilities

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The Financial Services Department is responsible for all financial activities in the city, with three main areas of responsibility: finance, treasury and information technology.

The main activities of the department include:

  • Drafting policies and procedures
  • Investing all city funds
  • Maintaining the city’s accounting records
  • Managing the annual audit
  • Receiving all city revenue
  • Paying all city bills
  • Preparing the annual budget
  • Serving as Chief Technology Officer / managing IT contracts

Annual Budget

The City of Manistee is required by law to adopt an annual budget. The City has a June 30 fiscal year end and the City Charter requires that the budget be adopted each year by May 15. The budget process begins in January with the various departments submitting their budget requests. Administration then compiles the requests and makes the necessary adjustments and recommendations to create a balanced, responsible budget.

The manager’s proposed budget is then presented to City Council, typically in late March. Council then holds a series of work sessions to discuss the budget and convenes a public hearing to receive input. Issues are discussed and the council directs administration to make any necessary changes, prior to voting on its adoption. The budget reflects City Council goals as articulated in the city’s Strategic Plan and supports the services city residents desire.

Capital Improvement Plan

The City of Manistee annually adopts a five-year Capital Improvement Plan (CIP). The CIP is intended as a forward-looking projection of upcoming capital projects. The current year items in the CIP are also included in the annual budget.

This document forces the city to be proactive and look out at what projects / needs are on the horizon. However, it is a planning tool only, and all projects will ultimately be approved by City Council if they are to move forward. The plan is a living and breathing document and changes as the needs of the city and its infrastructure change. The main areas in the CIP are general government, parks, streets, buildings, water and sewer, marina, boat launch and motor pool.

Annual Financial Audit

The City of Manistee is required by law to have an annual financial audit. The city’s independent certified public accounting firm is Dave Wilson, CPA. The city’s fiscal year end is June 30. The audit typically starts in mid-August and is completed in one week. A report to council on the audit results and findings is typically presented to council on their second meeting in September.

The purpose of an annual audit is to express an opinion as to whether the financial statements are fairly presented, in all material respects, in conformity with generally accepted accounting principles (GAAP). The audit is conducted in accordance with auditing standards generally accepted in the United States and includes tests necessary to enable the auditor to express this opinion. For the most recently completed audit, the city received an unqualified opinion, or a clean audit.


More information about local unit of government accounting and auditing can be found online. In addition, all local unit audit reports can be found on the Department of Treasury website.

Useful Documents

About Mr. Bradford

Edward Bradford is the chief financial officer (CFO) for the City of Manistee, serving as both finance director and treasurer. He has been with the city since 2002. Prior to joining the City of Manistee, he was the financial analyst and the director of information technology for six years for Graceland Fruit Inc., a large dried fruit manufacturer. Prior to this, he worked for several years in the commodity markets and mutual fund industry in Chicago.

Ed holds a bachelor's degree in financial administration, with honors, from Michigan State University and a master's degree of business administration from the University of Oregon. He has also earned the professional designations of Michigan Certified Public Treasurer (MiCPT), Certified Public Finance Administrator (CPFA) and Certified Public Funds Investment Manager (CPFIM). 

He has served on the board of several private and public organizations, including Graceland Fruit, Inc., Michigan CLASS, Grand Traverse Regional Land Conservancy, Ramsdell Regional Center for the Arts, Bear Lake Highlands golf course and Portage Lake Yacht Club.