The Finance Department is responsible for all phases of financial management that are mandated by federal, state and local statutes. The department must prepare an annual budget, monitor and control the disbursement of all monies entrusted to it, issue timely and accurate financial reports, invest funds in accordance with state and local regulations, certify fund availability for all purchases of materials, services and equipment necessary for the efficient operations of all city departments, and process the payroll for all employees of the city on a bi-weekly basis in accordance with all ordinance and contract provisions.
The City of Mayfield Heights has a diversified tax base that provides the resources necessary to support the many services that the community has come to expect from the city administration. Income tax provides over 55% of all General Fund revenues. The other significant source of revenue is the property tax.