City of Richmond Finance & Administration

Welcome to the Department of Finance web page. The mission of the Department of Finance is to lead the city’s financial management efforts in keeping with the concept of “One Richmond”. The Department of Finance is responsible for the financial, risk management, taxation, cash management, financial reporting, accounting control, and debt management policies and practices of the city. The Director of Finance is charged by state law with the duties mandated for the constitutional offices of the Treasurer and Commissioner of Revenue.

Functions of the department include: 

  • Assessing taxes and fees
  • Collecting taxes and other payments
  • Issuing licenses
  • Managing the city’s debt
  • Risk management, including the procurement of commercial insurance and administration of self-insurance activities
  • General accounting
  • Cash management
  • Financial audit and compliance
  • Accounts payable/receivable
  • Payroll
  • Financial reporting

Department objectives include: 

  • To maintain strong bond ratings for the City of Richmond
  • To complete the annual audit on time, providing the city’s Comprehensive Annual Financial Report (CAFR) to the Auditor of Public Accounts by November 30th of each year
  • To provide accurate Monthly Financial Reports to City Council within 15 days of month’s end
  • To maximize revenue collections, for both current and delinquent taxes and fees owed to the city