The Lago Vista Finance Department is responsible for the financial reporting and safeguarding of assets of the City of Lago Vista. They also oversee the administration of the Lago Vista’s financial activities and personnel. They manage the collection, investment and disbursement of all City funds, prepare the annual budget, process the City's payroll, manage Utility Billing, oversee the City's risk management program, monitor City purchases and administer the City's Depository agreements and transactions. The Finance Department also oversees revenue collections, utility billing, property tax administration, collecting hotel tax, purchasing, investments, fixed asset management, financial reporting, and assist with yearly audit.
In July 2014 Standard & Poor upgraded the City’s bond rating from A+ to AA. In November 2016 they reaffirmed that rating, confirming that the City is on solid financial footing.