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The Financial Management Branch (FMB) is responsible for the department's accounting, financing, budgeting, and financial planning and reporting. The branch consists of six sections: Capital Projects, Fiscal Services, Asset Management, Accounts Payable, and Budget Management. FMB is also often charged with special projects that team members from different sections are gathered with their expertise to resolve accounting, auditing, reporting, etc. issues.

Mission Statement

To provide accurate, timely and informative accounting, financing, budgeting, and financial planning and reporting services to the Department of Public Works and Engineering and the City Administration to facilitate and enhance decision making and on-going operations.

The Capital Project Section, led by Deputy Assistant Director Roland Mosley, is responsible for the entire accounting process of the Department's capital project programs that is budgeted about $686 million a year. This Section manages the capital project system setup, contractor payments, accounting for construction work in process, preparation and monitoring of the CIP cost recovery budget and related billing and reporting, joint funded capital projects (i.e., Metro, TXDOT, Harris County, etc.), closing of construction capital projects, and grant accounting and year-end reporting.

The Fiscal Services Section, led by Division Manager Paula Gerstle, is responsible for the preparation and monitoring of the water and sewer system's revenue budget. The Section is also responsible for the forecasting and analysis that ensures water and sewer utility rates generate sufficient revenues to cover the water and sewer system's debt service, maintenance and operations needs while meeting its bond covenant requirements. Additionally, the section has responsibility for coordinating utility rate studies, overseeing financial audits of water plants, and compiling the annual year end financial reports. This section also monitors cash flow and appropriations to ensure sufficient funding is available to meet the ongoing requirements of Department's capital improvement programs. When additional funding is required the section works with the city's finance working group to obtain the necessary long-term financing.

The Asset Management Section, led by Division Manager Sam Lathrum, is responsible for the accounting (costing, recording, depreciating, retiring, and reporting) of all constructed and purchased fixed assets for the Department of more than $16 billion asset value. Additionally, this section maintains and annually provides schedules of all buildings and their contents to the city's Risk Management Group for insurance purposes. This Section also conducts annual inventory to ensure proper safeguard of the Department's assets.

The Accounts Payable Section, led by Division Manager Craig Foster, is responsible for processing cash disbursements to contractors and suppliers for goods and services rendered. This Section ensures payments are to be in compliance with the Texas Prompt Payments Act (payment within 30 days), and all contract terms and conditions.

The Budget Management Section, led by Division Manager Preston Rice, is responsible for managing, monitoring and controlling the department's annual budget including operating, asset acquisition, and capital improvement. This is accomplished through budget preparation, financial analysis, financial reporting and day-to-day monitoring of the department's ten operating funds and other purpose funds of more than $1 billion.