The finance function shall be responsible for the implementation
of the duties and responsibilities pertaining to the receipt, expenditure,
accounting and interim reporting, investment, custody, and control
of municipal funds and assets, the management of debt, except to the
extent that such activities are expressly charged by law and the Home
Rule Charter or ordinance to another municipal official.
Finance shall be under the direct responsibility of the Chief
Administrative Officer to manage and administer the Town's finances
in accordance with Article Six of the Home Rule Charter and provisions
of this Administrative Code, but conducted on a daily basis by the
Financial Assistant. Duties detailed in the job description for the
Financial Assistant further define the conduct of this function.
The Financial Assistant, working in conjunction with the Chief
Administrative Officer, shall:
A.
Collect and receive all revenue due to or receivable by the Town
and work with external collection agencies as prescribed by law;
B.
Ensure Town financial records are maintained in accordance with generally
accepted principles of governmental accounting;
C.
Administer and/or coordinate with external agencies the collection
of municipal tax claims and liens in accordance with law;
D.
Preaudit all fiscal transactions of the Town and its constituent
units in accordance with generally accepted principles of governmental
auditing to assure sufficient resources are available to fund budgeted
expenditures prior to authorization of purchases or contracts for
services;
E.
Disburse all payments for authorized expenditures;
F.
Deposit monies in depositories authorized by Council;
G.
Provide for the prudent investment of Town funds;
H.
Take custody of the fidelity bonds of officers and employees, except
the Financial Assistant's, which shall be in the custody of the
Chief Administrative Officer, and maintain in a secure location all
deeds, mortgages, contracts, judgments, notes, debts, securities,
bonds, insurance policies, and other forms of negotiable instruments
owned by the Town;
I.
Administer the Town's purchasing system subject to the provisions
of law, the Home Rule Charter, or ordinance, including;
J.
Manage the procurement and administration of the Town's insurance
coverage for property, liability, and employee-related coverages;
K.
Assist the independent auditors with the annual financial audit;
L.
Provide administrative support on a timely basis to the Chief Administrative
Officer during the annual budgetary process for the development, review,
and approval of the general, special, and capital funds;
M.
Provide support to other department supervisors in the development
and implementation of the departmental budgets;
N.
Inform and advise the Chief Administrative Officer on a timely basis
of financial problems and issues and potential solutions; and
O.
Perform any duties and responsibilities that may be assigned from
time to time by the Chief Administrative Officer.
