Documents and reports
As part of the Finance function, the Department publishes annual budget, audited financial reports, and other schedules.
By June 30 of each year, an operating and capital budget must be presented and approved by the City Council. This process begins in January/February of each fiscal year where the Finance Budget team discuss organizational goals with each departments and interested committee members. These goals are translated to budgetary numbers and presented to the City Council and the Finance & Investment Committee in May of each fiscal year.
At the close of each fiscal year, the Department is required to complete year-end close and prepare a financial statement for the Town’s auditor to review and validate the accuracy of the financial statement in all material aspects. From testing performed during interim and final audit, the Town auditor would assert an opinion. That opinion is included are part of the audited financial statement. The report, the auditor’s opinion, and a management letter is presented to the City Council and the Finance & Investment Committee in November/December of each fiscal year.
Best practice dictates that the Town’s fee schedule be reviewed and updated every three to five years to ensure that service charges are reasonable and does not exceed the cost of rendered services. The Town’s User Fee Schedule was last reviewed and updated in 2020 and the residential sewer charges were last reviewed in 2020.
It is the policy of the Town of Los Altos Hills to properly account for unclaimed funds in a manner which follows Government Code Sections 50050 through 50056. To submit a claim for unclaimed funds, please use the form found here: Unclaimed Funds Claim Form