The Finance Department is governed by the City of West Palm Beach in Florida. The department manages a finance administration division that is responsible for the direction, administration and evaluation of financial management systems, as well as preparing and reviewing formal contracts. Its accounting division produces monthly revenue and expenditure operating reports and processes payroll transactions. The Finance Department also manages a budget office that prepares and administers annual budget. The department s cash management division provides marketing data for bond operating and presentation statements. In addition, it manages a procurement division. The Finance Department s risk management program prevents and minimizes physical losses to properties.