The Finance division is responsible for protecting the City’s fiscal health and sustainability by maintaining compliance with financial policies and internal controls, accurate accounting of financial transactions, timely revenue collection and accounts receivable processing, timely payment of accounts payable, transparent and professional financial reporting, effective budget management, cash and investment management, and debt financing and administration.

In fulfilling these responsibilities, the department oversees the City's long-range financial planning and financing of capital needs, including bond financing and fiscal analysis. It performs a variety of management and analytical duties related to financial and personnel matters. The division provides professional support to the City Council, City Manager, and operating departments to assist them in making sound financial and organizational decisions that promote the fiscal sustainability of the City and its ability to provide services to the community.


THE CITY OF BIG BEAR LAKE ANNUAL BUDGET

The City adopts an Annual Budget in June in preparation for the upcoming fiscal year - which begins July 1. The budget document is prepared by City staff and follows the guidelines recommended by the Government Finance Officers Association of the United States and Canada.

The City Council held a Special Meeting on Wednesday, May 8,2024 to conduct a Budget Workshop in which it received a presentation from City staff providing an overview of the City’s proposed FY 2024-25 Budget and 5-Year Capital Improvement Program. Click here to view the presentation.

The City has long been known for its high-quality financial management and its sound fiscal practices, and the department’s management team is committed to continuing this legacy. The City has received the budget awards for FY 2016-17 through 2019-20 from the GFOA and the California Society of Municipal Finance Officers (CSMFO). Those awards are as follows: GFOA Distinguished Budget Presentation Award and CSMFO Operating Budget Excellence Award. Due to the coronavirus pandemic and staffing vacancies, we were unable to submit the FY 2020-21 and 2021-22 budgets for consideration.

In addition, the Finance Department has also received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) four years running (FY 2017-18 through FY 2020-21) and will be submitting the 2021-22 report to the GFOA'a Special Review Committee for consideration.


ANNUAL COMPREHENSIVE FINANCIAL REPORTS

The Annual Comprehensive Financial Report (ACFR) is prepared by City staff and audited by an independent firm of Certified Public Accountants annually. This report is prepared following the guidelines recommended by the Government Finance Officers Association of the United States and Canada and the standards adopted by the Governmental Accounting Standards Board. Please note, the information in the ACFR has not been updated for developments subsequent to the date of the independent auditor's report.

Get In Touch

39707 Big Bear Blvd.
Big Bear Lake, CA 92315
P.O. Box 10000
Mon.– Fri. 8 a.m.–5 p.m.
(909) 866-5831

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