Director of Finance—Functions and powers
Seattle Mun. Code § 3.39.035
in effect3.39.035 - Director of Finance—Functions and powers
The Director of Finance's functions and powers include but are not limited to the following:
A. Providing support to the Office of Economic and Revenue Forecasts for economic forecasting.
B. Providing support to the Office of Economic and Revenue Forecasts for revenue forecasting and analysis including:
1. Monitoring revenue collections relative to forecasts, and
2. Assessing and developing revenue policy options in response to emerging trends, changes in state policies, and requests by City officials (including the City Budget Office).
C. Managing City tax administration:
1. Creating and administering rules and procedures for City-levied taxes,
2. Ensuring processing tax information is efficient,
3. Maintaining existing and develop new strategies for ensuring tax compliance, and
4. Overseeing process to adjudicate taxpayer appeals about tax liabilities.
D. In accordance with City ordinances, the Seattle Municipal Code, and applicable state or federal laws, providing general oversight of City retirement boards including:
1. The Seattle City Employees' Retirement System. Duties shall include:
a. Providing fund monitoring,
b. Overseeing fund management,
c. Assessing and deliberating investment policies,
d. Assessing and deliberating contribution policies,
e. Assessing and deliberating benefit policies, and
f. Supporting members of the Board of Administration of the Seattle City Employees' Retirement System and the City's elected officials in their assessment of the system's financial integrity.
2. Police Relief and Pension Fund - general oversight,
3. Firemen's Relief and Pension Fund - general oversight, and
4. The City of Seattle Voluntary Deferred Compensation Plan and Trust Committee. Duties shall include:
a. Overseeing plan administration, and
b. Assessing fund selection options.
E. Debt administration, in coordination with the City Budget Office, including:
1. Developing and maintaining general policies for City debt,
2. Assessing proposals for use of debt and ensuring proposals consistent to debt policies,
3. Issuing debt,
4. Ensuring compliance with federal, state, City, and bond restrictions for use of bond proceeds, and
5. Ensuring debt service is paid from appropriate funds.
F. Managing City borrowing and investor relations, applying for bond ratings, executing and issuing all appropriate documents including contracts and other documents for and on behalf of the City in connection with the issuance of bonds and other debt instruments as authorized by ordinance or resolution, retaining financial and other necessary consultants, keeping all necessary registers of creditors, and arranging for repayment of debts.
G. Reporting not less than quarterly to the Council's Finance Committee, or its successor committee, the cash position of each City Fund, performance of investments in the common investment portfolio, and the status of all interfund loans authorized by ordinance. Such report may be in the form of an email to the members of the Council's Finance Committee, or its successor committee.
H. Reporting not less than annually to the City's Debt Management and Policy Advisory Committee as established by Section 3.76.010, or its successor committee, the status of City debts, debt service, debt capacity, and debt guarantees.
I. Reporting to the Council's Finance Committee, or its successor committee, the status of the budgetary fund balance of City funds, with the frequency and scope of this reporting to be determined at the discretion of the Director of Finance or when requested by the Chair of the Finance Committee.
J. In September 2022, and biennially thereafter, preparing and submitting a citywide financial condition report to the Council's Finance Committee, or its successor, for the City Council and the people of Seattle. The report shall provide:
1. Information on the City's financial condition as of the end of the prior fiscal year; and
2. Historical trends on City financial indicators.
The report shall include analysis of financial indicators as identified by the Director of Finance, in consultation with the Director of the Office of Economic and Revenue Forecasts.
K. Financial oversight for specified City financial commitments, including:
1. Supporting the Director of the Office of Intergovernmental Relations by providing financial oversight of and monitoring the City's fiscal responsibilities related to public corporations established pursuant to Chapter 3.110, including City public development authorities, preservation and development authorities, and the Museum Development Authority; and
2. Developing processes to monitor and report on City's use of federal stimulus and infrastructure funds.
L. Submitting a report in writing not less than quarterly to the Council's Finance Committee, or its successor committee, the status of any audits conducted by the Washington State Auditor's Office and act as a liaison to facilitate communication among City departments, the Washington State Auditor's Office, and the Seattle City Council. Such report may be in the form of an email to the members of the Council's Finance Committee, or its successor committee.
The Director of Finance may delegate any of the duties authorized in this Chapter 3.39 to any other qualified city employee.
(Ord. 126787, § 4, 2023; Ord. 126395, § 3, 2021; Ord. 125492, § 2, 2017; Ord. 123361, § 16, 2010.)
Source: City of Seattle, Seattle Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/wa/seattle/codes/municipal_code?nodeId=TIT3AD_SUBTITLE_IIDEOF_CH3.39DEFIADSE_3.39.035DIFIUNPOFetched: 11/1/2026