Finance

Ted Gordon is the Finance Director and for more than 20 consecutive years our Finance Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers’ Association of the United States and Canada. All of the City’s financial activity is processed, recorded and reported by the Finance Department. This includes the receipt of all money owed to the City, and the payment of all money the city owes to suppliers, contractors, employees, lending institutions and other governmental units. The Finance Department’s major areas of responsibility include budget management, payroll, benefits, purchasing, insurance, assets, accounting, debt management, investments and financial reporting.

The Finance Department works closely with all other city departments in processing money collected. It records and deposits receipts, and pays all the bills for the City departments in accordance with the laws governing the expenditure of taxpayer money. Various reports are then prepared such as cash basis receipts and expenditures, and accrual basis revenues and expenditures. One report that is prepared on an annual basis is the Comprehensive Annual Financial Report (CAFR). This report is subject to an annual audit by the State of Ohio or an accounting firm approved by the State.

• Business Registration Form 48 (rita) for New Businesses to Bedford Heights
• Internal Revenue Service Forms

Where the money came from (in 2020)?
City Income Taxes	37.4%
Real Estate Taxes	19.3%
Grant Funds / Other Revenue Sources	18.4%
Sewer User Charges	16.7%
Permits, Fines, Charges for Services	3.9%
Gas & Motor Vehicle Taxes	2.5%
Other State/Local Taxes	1.2%
Community Life	.6%

• SERVICE – General Governmental Activities, Public Service, Storms & Sanitary Sewer, Transportation, Debt Service and Building & Housing Departments - 54.7%
• SAFETY – Security of Persons and Property – Police, Fire, Dispatch, Animal Control, School Guard, Street Lighting, Auxiliary Police, Corrections - 39.1%
• COMMUNITY LIFE – Leisure Time Activities and Senior Citizens Programs - 6.2%