The Financial Services Department, as part of the Corporate Services Division, assumes full responsibility for the provision of internal support services in the areas of capital management, financial management and revenue & collections. As such, the Financial Services Department produces the City’s annual capital and operating budgets as per The Cities Act and prepares the annual financial statements in accordance with public sector accounting standards. This department is also responsible for the administration of the municipal levy, utility billing and the timely collection of revenue in compliance with The Cities Act and municipal bylaws. The Financial Services Department also maintains the City’s investment portfolio and insurance policy. This department is also responsible for corporate cash flow management and risk management.