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FINANCIAL MANAGEMENT DIVISION (FMD)

The Financial Management Division consists of four bureaus,the Accounting Services Bureau,the Administrative Systems Bureau,the Budget and Revenue Management Bureau,and the Earthquake Grants and Loans Bureau.
● The Accounting Services Bureau (ASB) is responsible for a full range of accounting functions including payables,receivables,revolving fund,cashiering,general ledger,security deposits and gross premium and surplus line tax collection. Approximately $1.7 billion in tax revenue was collected annually to support the State’s general fund. The ASB maintains centralized records of the department’s appropriations,financial activities,and cash flow to ensure effective management of the department’s financial affairs and to provide accurate financial reports to state control agencies.
● The Administrative Systems Bureau is responsible for overseeing the operations of the department’s Time Activity Reporting System (TARS),providing TARS training and technical assistance to all CDI staff,providing technical financial support to users of various fiscal systems including CALSTARS,establishing of new program cost accounts,updating of cost allocation plan,and developing specialized financial related management reports.
● The Budget and Revenue Management Bureau develops CDI’s Annual Budget including the preparation and submission of all Supplementary Schedules required by the Department of Finance (DOF) for creation of the Governor’s Budget. The Department’s Fiscal Year 2002-03 proposed budget is approximately $170 million and supports 1,311.8 positions.
● The Budget and Revenue Management Bureau coordinates and prepares quarterly financial analyses of the Department,Bureaus,and Programs;analyses include the reconciliation of allotments to authorized appropriations,the monitoring of program allotments and their comparison to the actual levels of expenditure,the distribution of monthly expenditure data,and the projection of expenditures for the remainder of the current Fiscal Year.
● The Earthquake Grants and Loans Bureau is responsible for implementing SB 395 (1995),AB 1118 (2001),and other CDI earthquake mitigation laws which were enacted over the last six years. These laws seek to reduce the damage,which would be caused by future earthquakes to residential structures owned by low-to-moderate income homeowners. Our programs provide funding for structurally changing at-risk homes to adhere to proven earthquake mitigation procedures. The programs have retrofitted over 1,600 homes since their inception in 1996.