FY2021 Budget

Finance

MISSION

The Finance Department’s mission is to manage Town Funds in accordance with the Local Government Budget and Fiscal Control Act, applicable State and Federal regulations, and sound principles of accounting and cash management.

SERVICE TO COMMUNITY

The Finance Department is committed to the highest standards of accountability, accuracy, timeliness, professionalism, and innovation in providing financial services. This encompasses investing all Town funds; maintaining accounting and financial records; billing and collecting; maintaining an encumbrance system for purchasing; processing accounts payable each week; preparing biweekly payrolls; preparation of the Comprehensive Annual Financial Report; and issuance of and collections related to various user fees and charges.

BUDGET NOTES

New Initiatives & Priorities

Cost Value

None Total

-

$ -

2020 ESTIMATED ACTUAL

2021 PROJECTED BUDGET

2018 ACTUALS

2019 ACTUALS

FINANCE Personnel Operating

$ $ $ $

443,186 199,415 642,601 40,915

$ $ $ $

423,052 435,445 858,497 215,896

$ $ $ $

441,168 215,351 656,519 (201,978)

$ $ $ $

502,250 192,400 694,650 38,131

TOTAL

Year over Year $s Change Total Year over Year % Change Total

7%

34%

-24%

6%

5 – Full-time Employees

Note: Merit & Market Adjustments, along with Local Government Retirement System and Health and Dental increases are included in the figures above.

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