Finance Department

Department Functions

The Finance Department is responsible for the overall financial management, accounting and cash management, and Tax and Sewer Collection functions of the Town. The Town does not have formal purchasing and risk management departments, however, some of these duties are handled by the Finance Department. Additional highlights of the various functions include:

Financial Management

• Guide the overall financial affairs of the Town in conformity with generally accepted accounting principles, and adhere to all laws and regulations.
• Maintain a general accounting system, including a capital asset system, for all Town offices, departments, and agencies.
• Prepare the annual Comprehensive Annual Financial Report.
• Manage the Town's cash and debt.
• Ensure Town funds are used for appropriate purposes and are recorded within approved budgetary functions and objects.
• Assist the Town Manager in coordinating and developing the Town's annual budget.
• Provide monthly, quarterly, and annual financial reporting.
• Schedule bond issues, prepare official statements for bond issuance, and meet with rating agencies to attain rating for bond sales.
• Maintain and update appropriate internal controls, financial policies, and procedures.

Accounting & Cash Management

• Administer accounts receivable and payable.
• Process purchase requisitions and orders to acquire goods and services.
• Reconcile cash and invest funds in a financially prudent manner to maximize interest income, and assure funds designated for the Town are received and recorded.
• Process and administer the payroll responsibilities of the Town utilizing a third-party payroll system.
• Ensure grant funds are expended for intended purpose and reimbursement requests are submitted in a timely manner.
• Invest Town funds under the control and oversight of the Finance Director.