Borough of Andover, NJ Administrative Offices

There shall be a Chief Financial Officer of the borough who, in consultation with the governing body, shall be responsible for overall facets of planning, execution and reporting associated with the borough's finances. The official's duties shall include the following:

Compile monthly and quarterly operating expenditure reports.

Prepare historical operating expenditure report for the purpose of yearly budget preparation, suggesting to the Committee, based on historical trends, the specific allocation for each line item of operation budget.

Collect and review cash-flow information along with current expenditure needs to develop a cash-management program for the borough. This program shall consist of investments in any one or a combination of those investments prescribed by New Jersey statutes. The Chief Financial Officer shall prepare a yearly report of investments indicating interest earned.

Inform department and boards of budget appropriation balances.

Perform and exercise all the functions, powers and duties provided by general law and borough ordinances. He shall keep and maintain books and records of all financial transactions of the borough in accordance with the standards and requirements of the Division of Local Finance in the Department of Community Affairs of the State of New Jersey. He shall have custody of all public moneys of the borough and shall make monthly reports to the Borough Council of all receipts, expenditures, commitments and unexpended appropriations. Within 60 days after the end of each fiscal year, he shall, under penalties prescribed by law, make to the Borough Council and file with the Borough Clerk a detailed statement of the amount of bonds issued and outstanding and full and detailed account of his receipts and disbursements for the preceding fiscal year. The statement shall be in writing and verified by his oath and may be prepared with the advice, assistance and consultation of the Borough Auditor. All moneys received from any source by or on behalf of the borough or any department, board, office or agency thereof, except as otherwise provided by borough ordinance, shall be paid to the Chief Financial Officer who shall, within 48 hours after their receipt, deposit them in the authorized public depository of the borough to the credit of the proper account.

Make disbursements in payment of bills and demands upon his preaudit and approval by the Borough Council. Every warrant shall be in the form of a warrant-check payable to the order of the person entitled to receive it and shall specify the purpose for which it is drawn and the account or appropriation to which it is chargeable. Each warrant-check shall be prepared by the Chief Financial Officer and shall bear the signatures of the Mayor and the Clerk.

Within the Borough Finance Committee, there shall be a Division of the Treasury, the head of which shall be the Borough Treasurer appointed by the governing body. The official shall serve for a term of one year. The Treasurer may be the Chief Financial Officer. The Borough Treasurer's duties shall include the following:

Coordinate with the Tax Collector and the Chief Financial Officer in all duties set by ordinance, with emphasis on delinquent tax trends, foreclosures and monthly monitoring of tax receipts, to aid in a sound investment program.

Coordinate and develop a financial investment program for the borough.