Accounting Division
City Hall
2nd Floor, Ste. 207
120 Malabar Road

Palm Bay, FL 32907

Tel. 321-952-3400
ext. 3211
Fax 321-952-3401


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The function of the Accounting Division is to maintain accountability for all financial transactions of the City, to implement and monitor internal control procedures and to maintain an efficient financial accounting and reporting system that provides accurate, reliable and timely information to management, City Council and the citizens of Palm Bay. The Accounting Division includes General Accounting, Utility Accounting, Grant Accounting, Fixed Asset Accounting, and Accounts Payable.

Accounting Policies and Internal Control

The City's Accounting policies conform to generally accepted accounting principles as applicable to governments. The modified accrual basis of accounting is followed by the governmental, expendable trust and agency funds. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual, i.e., both measurable and available. "Measurable" means the amount of the transaction can be determined, and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures, other than unmatured interest on long-term debt and certain compensated absences and claims and judgments, are recorded when the liability is incurred.

The accrual basis of accounting is used by proprietary, pension and nonexpendable trust funds. Under this method, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.

The internal control procedures incorporated in the accounting system are designed to safeguard assets against loss from unauthorized use or disposition and to assure the reliability of the financial records.