Kimberly Segura Director of Finance

Kimberly Segura
Director of Finance

The Finance Department

Handling an annual budget of approximately $80 million and responsible for year end financial reporting for all departments, the Finance Department is responsible for overseeing and managing, according to all applicable laws and standards, all financial accounting functions of Iberia Parish Government.

The Finance Department plays a crucial role in managing the financial resources of the Parish. Responsible for all financial accounting and reporting for the Parish, this includes accounts receivable, accounts payable, fixed assets, records management, budgeting, and related reconciliations.

Some of the key responsibilities of the Finance Department include:

  • Budget preparation and management: Developing and managing the local government’s budget, ensuring that funds are allocated and used effectively and efficiently.
  • Accounting and financial reporting: Maintaining accurate financial records, preparing financial statements, and ensuring that all transactions comply with local and state regulations. The department serves as the lead, working with the Parish’s independent auditing firm in the annual review and analysis of the Parish’s financial information.
  • Revenue collection and management: Collecting all forms of revenues, and managing the local government’s cash flow.
  • Debt management: Monitoring and managing the local government’s debt, ensuring that debt obligations are met, and advising on the issuance of new debt.

The department also develops and implements financial and internal control policies and procedures, providing financial support and reporting services to all departments of the Parish, as well as managing the financial management systems that deliver efficient and effective services in accordance with best practices and recognized principles of governmental finance.

General Fund

The department serves as the lead in working with the Parish’s independent auditing firm in the annual review and analysis of the Parish’s financial information. An example of the efforts of the current administration, the General Fund balance represents cash on hand to sustain Parish Government operations during emergency situations. Based on the average daily expenditures, in 2016, this amount would have supported the operations for a mere 29 days. Through the administration’s efforts to operate more efficiently, in just one year, a growth of 102% in days of sustainable operation was achieved. This growth continued to gain momentum over the next 5 years and currently maintains a Cash balance equal to 200+ days of parish operating expenditures.

Year Cash On Hand Days of Sustainable Operation Growth
(days)
2016 $460,014 29
2017 $783,319 58 102%
2018 $997,269 78 173%
2019 $1,157,198 90 215%
2020 $1,635,714 129 349%
2021 $2,521,595 200 570%
2022 $3,432,976 256 783%

Forms and Documentation

The Finance Department oversees the application process for Parish Occupational Licenses, Parish Special Events Permits, as well as Liquor Licenses. All forms must be submitted to the Iberia Parish Government for approval.

Historical Data

The Finance Department maintains several years of records for public viewing, preserving historical information, and promoting transparency and accountability when making future financial decisions.