Finance & Accounting

BUDGETING
Produce the Conventional Program Operating Budget, HCV Program Budget, COCC Budget, and other department and entity budgets that are adopted by the Authority and Subsidiary Boards every year. A Budget is a Financial Plan estimating your Revenue & Expenses for the next Fiscal year.

FINANCIAL MANAGEMENT
Works in cooperation with other LMHA Departments, to make sound Financial decisions. In other words, make sure the costs not exceed the receipts.

ACCOUNTING
To present financial statements in conformity with general accepted accounting principles (GAAP) applicable to governmental units. LMHA is considered to be an Enterprise Fund and uses the accrual basis of accounting, so revenues are recognized when earned and expenses are recognized when incurred.

ACCOUNTS PAYABLE
Works to pay vendors in a timely fashion. The Finance Department requires all contractors and vendors to submit all invoices through our SpringCM Vendor Portal instead of using traditional mail.  LMHA also encourages vendors to complete and return ACH Authorization Forms to expedite payments through electronic payment processing.