Revenue & Finance

General Information

Director:   Jack Potts

Education:
Monmouth College, MBA, Finance, 1979
Stockton State College, BS, Accounting, 1977
Burlington County College, AA, Liberal Arts, 1976

Certified Public Account, December, 1992

Experience:
2006 to Present – Director of Revenue & Finance, City of Atlantic City
1989 to 2006 – Executive Assistant to the Director of Revenue & Finance, City of Atlantic City
1977 to 1989 – Manager of Cash Management and Corporate Services, Spencer Gifts, Inc.
1964 to 1975 – US Army, Reserve Retirement, Obtained the Rank of Captain
1993 to Present – Sole Practitioner of CPA Firm

The Department of Revenue and Finance is the financial engine that runs the City. Its responsibilities include the receipt and disbursement of approximately a quarter of a billion dollars annually. The mission of the Department is to maintain the satisfactory financial condition of the City, stabilize the local purpose tax and assist the Adminis­tration in the preparation of structurally balanced budgets.

The Department consists of the Following Divisions:

• Office of the Director 
• Comptroller's Office
• Tax Collector's Office
• Finance Office
• Purchasing
• Information Technology (IT)
• Community & Economic Development Division (CDBG)
  

 Working Units

• Office of the Director administers the operations of the entire Department. it is the Director's responsibility to exercise a control function in the management of the Finances of the City. his office supplies the information to management required to prepare the annual operating budget, as well as to the independent external audit firm during their prepara­tion of the annual audit. The management and investing of available City funds, control of City owned real estate and Note and Bond financing are also managed by the Division. 

• The Comptroller's Division is responsible for keeping the accounting records of all City transactions. The Comptroller oversees the accounts payable, accounts receivable and payroll units of the Division. Fixed asset inventory, government tax returns and employee pension deductions and benefits are also functions managed by this Division. The Division oversees that all City expenditures are properly appropriated in the budget and prepares all budgetary and other financial reports to management.
• Accounting
• Accounts Payable
• Cashier's Office

• The Community and Economic Development Division through the use of Community Development Block Grant (CDBG) and HOME Investment Partnership (HOME) Program entitlement funds carries out a wide range of community development activities directed toward revitalizing neighborhoods, economic development, and providing improved community facilities and services principally for low- and moderate-income persons in the City of Atlantic City.
   
  
• The Finance Division is responsible for the management and investing of available City funds, control of City owned real estate, and note and bond financing are also managed by this Division.  Assists in the preparation of the City Budget.

• The Purchasing Division is responsible for reviewing requisitions, obtaining price quotes and issuing Purchase Orders for goods and services for the City.  The procedures of the Purchasing Division are based on the rules and regulations of the State of New Jersey. 

• Information Technology maintains and operates the City wide network which includes multiple servers, workstations, printers and supports multiple software applications.  This website is hosted on one of the servers supported by the IT Division.
   
  

• The Tax Collector's Division is responsible for the preparation and sending of the real estate tax bills. This Division also has the responsibility of the receipt, recording and depositing of all real estate tax payments made to the City, the County, the School Board and for the open space act. These tax collections total over two hundred million dollars annually. The tax collector coordinates all tax lien sales and helps in the foreclosure of properties, which are delinquent in the payment of their real estate taxes.