Finance Director/Accountant's Office

Overview


The Department manages four financial functions: accounting; assessments; treasury; and collections.  Coordinates and manages budgetary and financial information, forecasting revenues for the forthcoming fiscal year and preparing the Finance Committee's annual budget in advance of the annual town meeting and coordinating and managing the budget and financial information throughout the year.

The Town Accountant’s office helps protect the financial interests of the town by providing oversight of the Town's finances and by ensuring that financial transactions are executed legally, efficiently, and effectively. The office also serves as a barrier to potential fraud or misuse of the Town's resources. 

Accounts Payable and Cash Receipts

Oversees and participates in the posting of bi-weekly warrants to the general ledger; reviews and posts cash receipts in general ledger as received.  Monitors expenditures of all town funds; examines all department bills schedules and payrolls for appropriateness of expenditure and for accuracy and availability of funds before payment by Treasurer; oversees accounts payable warrant process for review by the Town Manager.

End of Year Reports

At the close of the fiscal year, the Town Accountant, is responsible for the submittal of the combined balance sheet to the Department of Revenue (DOR).  The balance sheet is the report that shows the town’s financial position at the end of the fiscal year. It summarizes account balances of assets, liabilities, and fund equity and is used by DOR in calculating a community’s free cash.

Subsequent to free cash certification, the Schedule A is completed.  The Schedule A is a statement of revenues, expenditures, fund balances and other financing sources and uses. This report, prepared at the end of the year for the recently past fiscal year, is sent to DOR.

The Town Accountant also provides financial data such as the school-related insurance costs, employee benefits, and other costs for the School Department’s End of Year Financial Report.

Other Responsibilities

Maintains a complete set of financial records for all town accounts, appropriations, debts, and contracts; maintains a general ledger and journal for the recording of all transactions. Has full audit responsibility for all town department receipts and expenditures. Reconciles Treasurer's cash balance and receivables with General Ledger

Assists other town officials in monitoring the town's financial condition; notifies departments of expenditures and account balances on monthly basis; makes recommendations to improve financial condition

Prepares expenditure estimates and provides detailed revenue estimates to the Town Manager. Finalizes Finance Committee's recommended budget and prepares monthly expenditure reports.

Answers questions from departments, Board of Selectmen and general public regarding town finances and/or accounting procedures.