Accounts Payable Process:

Invoices ready for payment are approved by individual City departments and forwarded to Accounts Payable for payment. Invoices received by Accounts Payable are processed weekly with checks issued on Wednesday of the following week.

Check Register/Expenditure Approval List

We've made viewing information regarding the City's expenses easier. The current weekly check register is listed by issue date. View check registers for 2024.

For additional information, please contact Accounts Payable at accountspayable@toaks.org.

Outstanding Checks:

Accounts payable checks issued by the City of Thousand Oaks that have not been cashed and are more than 180 days old from date of issuance.

1. October 2024

Taxpayer Identification Numbers:

Taxpayer ID or Social Security numbers must be provided before payments can be made to vendors. IRS 1099 forms are issued to qualifying vendors being paid in excess of $600 for services provided annually. You may download the Taxpayer ID Numberform using Adobe Acrobat Reader.

Invoice Payment Methods:

The City of Thousand Oaks provides for vendors to be paid by check or by Direct Bill Pay. With Direct Bill Pay, your invoices are paid by direct deposit to your checking account through the Automated Clearing House (ACH) and electronic funds transfer (EFT) system. Vendors interested in Direct Bill Pay may download the Direct Bill Payment Authorization Form.

The signed form should be mailed to Accounts Payable (address on form) with a voided check or a bank account verification form attached. Forms may also be emailed to DirectPay@toaks.org.

Once your Direct Bill Pay authorization has been processed, you will receive an acceptance notification by regular mail, email, or both (your choice) prior to your next payment from the City of Thousand Oaks. Cancellation requests must be made in writing to the City. Forms may be emailed to DirectPay@toaks.org.

Contact Information:

For vendor questions regarding the payment status of invoices, please contact the contracting department directly.

If you have questions about Taxpayer ID numbers or Direct Bill Pay, please call (805) 449-2211 or (805) 449-2254 or email DirectPay@toaks.org.

The Finance Department provides the financial analysis for potential bond issues and refunding opportunities and is responsible for ongoing debt administration, including debt service payments, continuing disclosure obligations, and various other reporting requirements. 

The City's Debt policy sets forth debt management objectives and establishes general parameters for issuing and administering its debt. The City's objectives are to minimize costs, maintain access to municipal markets, achieve timely repayment, provide full financial disclosure, and comply with applicable state and federal laws.

While the City’s practice is to post its annual financial report as well as other financial reports on the City’s website, information with the intention of reaching the investing public or any other members of the investment community shall be filed on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access(EMMA) website.

The City of Thousand Oaks adheres to the highest professional standards in all of its data-gathering and processing activities. However, the City does not warrant the accuracy and usability of this data to third parties. Investors should not refer to or rely upon information posted to the City’s website when making an investment decision. Investors should refer to the information posted on EMMA in making an investment decision. Because each security issued by the City or its related entities may involve different sources of payment and security, investors should refer to the official statement for additional information on the particular security. The information posted on EMMA and the City’s website speaks only as of its date. 

Annual Comprehensive Financial Report (ACFR)

The annual audited financial report for the City of Thousand Oaks. The Annual Comprehensive Financial Report presents financial transactions during the year and ending financial results for all City funds. The audit examines both financial reporting and compliance.

For historical purposes, reports are available in the City's Imaging System.

Component Unit Financial Report (CUFR)

The annual audited CUFR for the City of Thousand Oaks Redevelopment Agency. Effective February 1, 2012, the State dissolved all redevelopment agencies and thus no financial reports are prepared after FY 2011-12.

For historical purposes, previous reports are available in the City's Imaging System.

City Wide Financial Year End Summary

Brief summary of City's audited Annual Comprehensive Financial Report.

1. FY 2020-21 Financial Year End Summary

State Controller's Office - Annual Financial Transaction Report

One-page summary of the City's Consolidated Statement of Revenues, Expenditures, and Changes in Fund Balance and Working Capital. Submitted to the State Controller's Office annually.

1. FY 2022-23 Annual Report of Financial Transactions

Single Audit of Federally Assisted Grant Programs

An independent auditor report of the City's federal grant-funded programs. The audit examines both financial reporting and compliance.

1. View audits by year

Monthly Financial Reports

These reports provide budgetary information for the fiscal year beginning July 1 through June 30 and include a summary of revenues and expenses as currently reflected in the City's financial system. 

1. View reports by year

CalPERS 

California Public Employees' Retirement System (CalPERS) retirement benefits are funded through contributions paid by contracting employers, member contributions, and earnings from CalPERS investments. Employer contribution requirements are determined by periodic actuarial valuations under state law. Actuarial valuations are based on the benefit formulas the agency provides and the employee groups covered.  

The City of Thousand Oaks' Annual Actuarial Valuation Reports are available on the CalPERS Public Agency Actuarial Valuation website.  Reports are organized by CalPERS ID, name, type, and county, and can be filtered by each of those categories using the search boxes. To locate the City of Thousand Oaks, type "Thousand Oaks City" in the "Name" search box. 

The City of Thousand Oaks' long-term obligations are disclosed in the City's Comprehensive Annual Financial Report.

OPEB

Other Post Employment Benefits (OPEB) Actuarial Valuation Plans are provided to the City of Thousand Oaks every two years. Per Governmental Accounting Standards Statement Nos. 43 and 45, the City is required to have an actuarial valuation report prepared biennially. The purpose of this valuation is to determine the City's benefit obligations and funded status and to calculate the Fiscal Year 2017-18 and 2018-19 Annual Required Contributions.

1. View City of Thousand Oaks Retiree Healthcare Plan Actuarial

For historical purposes, previous Actuarial Valuation Plans are available in the City's Imaging System.

City ordinance allows the City Manager to appoint the Director of Finance to serve as City Treasurer and perform the functions of both positions. This appointment is subject to annual confirmation by the City Council.

The City Treasurer manages and protects public funds. The City’s Investment Policy sets forth the investment and operational policies for the management of the public funds of the City and is adopted annually by City Council. The policy is designed to ensure the prudent management of public funds, the availability of operating and capital funds when needed, and an investment return competitive with those of comparable funds and financial market indexes.

City Council has established an investment committee consisting of five members to act as an advisory committee to Council. The Investment Review Committee meets quarterly to monitor the Treasurer's compliance with the City's investment policy. In addition, the Investment Review Committee reviews modifications and recommends amendments to the investment policy. City Council appoints members of the community with backgrounds in finance and investments to serve on the Investment Review Committee. The Treasurer is not a member of the committee but serves in a staff and advisory capacity. 

The City's Investment Policy requires that within 30 days of the end of each month, the Treasurer submits the Monthly Investment Report to the City Manager and City Council.

View the available reports here.

Fee ordinances for wastewater and water rates and charges are adopted by City Council every two years based on approved Financial Plans and Cost of Service Studies.

On September 12, 2023 City Council adopted water and wastewater utility financial plan updates. These plans provide the framework for rate adjustments. A Public Hearing was conducted on November 7, 2023, and rate adjustments were approved for years 2024 and 2025.

Water:

1. Water Rate Ordinance 2024 & 2025 (1720NS)
2. Water Financial Plan 2023
3. Water Financial Plan & Cost of Service Study 2022

Wastewater:

1. Wastewater Rates Ordinance 2024 & 2025 (1721NS)
2. Wastewater Financial Plan 2023
3. Wastewater Financial Plan & Cost of Service Study 2020

Water and Wastewater Connection Fee Study:

Connection fees are one-time fees, collected as a condition of establishing a new connection to the City’s systems. The purpose of these fees is to pay for development’s share of the costs of existing and/or new facilities. These fees are designed to be proportional to the demand placed on the systems by the new connections. The recommended connection fees for the City reflect the reasonable costs of providing access to the water and wastewater system, and are of proportional benefit to the property being charged.

1. Water and Wastewater Connection Fee Study 2020