ABOUT THE AGENCY
Thomas J. Cook – Secretary of Finance
The Delaware Department of Finance's mission is to promote Delaware's fiscal heath fairly and efficiently by forecasting, generating, collecting and accounting for funds critical to essential government services.
The Cabinet Secretary of Finance is the state's Chief Financial Officer and is the central source for economic and fiscal policy and management of financial resources. The Office of the Secretary provides economic data, revenue and legislative analyses and public information services. The office also provides the three operating divisions with managerial and technical support in achieving department-wide goals.
The Office of the Secretary provides management and oversight of General Obligation debt and overall coordination and management of all debt of the state and state authorities. In addition, the office builds the foundation for the state's General Fund budget process by providing the analysis and forecasting of revenues in support of the Delaware Economic and Financial Advisory Council (DEFAC).Division of Accounting
The mission of the division is to provide expert financial and technical accounting services for the State of Delaware, delivering central support to state organizations as well as consistent and reliable financial information to the public.
The division is responsible for preparing and issuing the State's annual Comprehensive Financial Report in full compliance with Governmental Accounting Standards Board Statement 34 and 35, which more closely aligns governmental financial statements with the ones found in private industry. Each fiscal year since 1995, the State has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association.
The division also establishes and implements procedures and regulations pertaining to the statewide accounting and payroll systems; processes the state's accounting and payroll transactions; certifies the validity of transactions; and coordinates accounting, payroll and other financial matters with state agencies.
In fulfillment of its mission, the division's on-going initiatives have increased the efficiency of the state's financial processes and continue to enhance the availability of information to its customers. The division is committed to reaching these goals through the application of technology. The division continuously works to eliminate obsolete, paper-based processes in favor of more efficient electronic alternatives.Division of Revenue
As the primary revenue collector for the State, the division's mission is to collect 100 percent of the taxes and other revenues required by law, no more and no less, and to do so in a manner that creates the highest possible level of satisfaction on the part of the public with the division's competence, courtesy, effectiveness and efficiency.
Revenue revolves around three activities: tax processing, tax enforcement and policy formulation. Tax processing involves receiving documents and remittances, depositing remittances, entering/capturing data from returns, validating the taxpayer's determination of tax, refunding overpayments and assuring proper accounting (including internal controls) and reporting of these transactions.
Each year, the division processes over 425,000 personal and 600,000 business tax returns and issues more than 280,000 tax refunds. In addition, the division's computer staff is responsible for the design and administration of some of the most sophisticated and technically-advanced processing and imaging systems in the state. Delaware has been a national leader in applying technology to tax administration.
Tax enforcement includes examinations and audits (i.e., determinations of tax) and collection of delinquent accounts. The division's enforcement responsibilities encompass 15 different revenue sources, including the state's personal and corporate income taxes, gross receipts tax and realty transfer tax.
The division has focused on improving the quality of service to the customers. One initiative is the Quality Service Mailbox, which allows callers to leave comments for the division.
Electronic filing of income tax returns has continued to expand statewide. The division received over 144,000 electronically filed personal tax returns in Fiscal Year 2003 (compared to 126,000, 101,000, 83,000, 33,000 and 6,100 personal tax returns in Fiscal Years 2002, 2001, 2000, 1998 and 1996, respectively). The division projects that it will receive 155,000 personal tax returns electronically in Fiscal Year 2004, which will represent approximately 37 percent of all Personal Income Tax returns filed. These returns do not require manual intervention in the form of sorting, data entry or return validation.
The division has aggressively pursued the method of filing personal tax returns in a digital format, consisting of Internet filing, electronic software filing, and barcoded paper filing. Digital returns reduce mail and data entry processing and as a result improve the refund issuance process and decrease seasonal and operating expenses. Since implementation, the number of digitally filed returns has increased from zero in Fiscal Year 1995 to 248,000 in Fiscal Year 2003.State Lottery Office
The mission of this agency is to maximize revenue contributions to the state's General Fund, thereby helping to fund the delivery of governmental services to the people of Delaware:
- Through the marketing, sale and distribution of innovative, entertaining and secure lottery products that ensure the public's confidence in the integrity of the games, retailers, agents and lottery operations; and
- By providing leadership and a corporate culture that encourages productive change leading to improvement in every aspect of the business.
One of the Delaware Lottery's most-significant achievements is receiving the Delaware Quality Award of Merit from the American Society for Quality, Delaware Section. Delaware's Quality Award was created to foster and recognize outstanding performance in businesses and organizations across the state. Of the 17 Delaware organizations that have received the Quality Award of Merit since its introduction in 1992 (including such distinguished and diverse organizations as Dover Air Force Base and St. Francis Hospital), the Delaware Lottery became only the third state agency to be so honored.
During Fiscal Year 2014, the Delaware Lottery earned its fifteenth consecutive Certificate of Achievement for Excellence in Financial Reporting awarded by GFOA of the United States and Canada for the Lottery's Comprehensive Annual Financial Report. The certificate of achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
Now in its 40th year of operation, the Delaware State Lottery continues its winning tradition. The Delaware Lottery continues to attract new players with its established games: PLAY 3, PLAY 4, POWERBALL®, MEGA MILLIONS® and HOT LOTTO®. The Lottery also operates Video Lottery games and Table Games at the three racetrack casinos: Delaware Park, Dover Downs and Harrington Raceway & Casino. Additionally, Sports Lottery and Keno is offered at the three racetrack casinos and select Sports Lottery and Keno Retailers throughout the state.
The Delaware Lottery currently serves as Chair of the Video Lottery Game Group, a multijurisdictional, progressive video lottery network administered under the auspices of the Multi-State Lottery Association (MUSL). Member states include DE, WV, RI, OH, and MD.