The financial affairs of the Port of Los Angeles are overseen and managed by the Chief Financial Officer, under the direction of the Deputy Executive Director, Finance & Administration. Finance operations are managed into five major functions: debt and treasury management; financial management; risk management; accounting and budget; and internal management audits. The Chief Financial Officer is responsible for the overall planning, managing, and reporting of the Port’s financial transactions, including the performance of general accounting activities; development and implementation of the Port’s annual budget; issuance of the Port’s annual financial statements, single audits, and bond disclosures; and performing financial analysis, strategy, and performance measures.
Other finance operations include issuing and servicing its bonded debt, managing the Port’s commercial paper program, developing short and long-term revenue forecast and financial plans, evaluating fiscal impacts from the Capital Improvement Plan; and performing comprehensive audits on a broad range of Port activities to detect fraud, waste, and inefficiency. In addition, the finance group develops and maintains a system of internal controls to effectively and efficiently manage the Port’s business operations, including reducing risk and loss through its managed insurance programs, occupational health and safety programs, and compliance audits.