FY23 FULL BUDGET REPORT ADOPTED

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 eachweek; preparing biweekly payrolls; preparation of the Comprehensive Annual Financial Report; and issuance of and collections related to various user fees and charges.

Budget Notes

2022 Estimated Actual

2023 Projected Budget

2020 Actual

2021 Actual

Finance

Total Salary and Benefits

$ $ $ $

448,788 190,944

$ $ $ $

505,250 $ 221,050 $

555,554 $ 229,335 $

690,900 234,000

Operations

Capital Outlay

-

- $

- $

-

726,300 $

784,889 $

924,900

Total Expenditures

639,732

Year Over Year % Change Total Year Over Year $s Change Total

-25%

14%

8%

18%

$

(218,765)

$

86,568 $

58,589 $

140,011

FY23 Budget Priorities Base Budget Material Adjustments - Professional Services

$

24,000

Finance Director

Financial Systems Manager

Purchasing & Contracts Manager

Controller

Accounting Technician

Payroll Administrator

Total Fulltime Staff

6

71