Finance Department - FY 24

Assumed Outcomes:

• Effective and transparent stewardship of Town finances and records including compliance with Generally Accepted Accounting Practices (GAAP) and standards set by the Governmental Accounting Standards Board (GASB) 
• Meaningful internal and external communication networks
• Efficient foundation for Town operations
• Highly responsive internal and external customer service
• Accurate and timely payroll and benefit administration

Mandates:

• Annual independent financial audit
• GASB and GAAP Compliance
• Grant reporting 
• Financial oversight for the collection of many state fees
• Red Flag rules regarding utility payments
• Statutory release of lien filings regarding taxes and sewer
• Collection and statutory notice and filings regarding tax lien process

Current Methods:

• Maintain Accounting Information System
• Budget Preparation and Administration
• Financial Analysis & Reporting
• Processing of Accounts Payable & Receivable
• Reconciliation of all bank accounts, internal assigned fund balance accounts, real estate and personal property tax accounts (A/R), ambulance billings, and sewer accounts
• Maintaining general fixed asset listing
• Managing Investment Accounts
• Payroll Processing and Benefits Administration
• Vendor Communications
• Undertaking internal audit cycles throughout the year
• Daily cash deposits and reconciliations

Current Resources

Personnel:   2.5 FTE

• Finance Manager, Bookkeeper, & Part-time Senior Staff Accountant