Accounting

Department Functions

Overview

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. 

Coordinates and manages budgetary and financial information, forecasting revenues for the forthcoming fiscal year and preparing the Board of Selectmen’s annual budget in advance of the annual town meeting and coordinating and managing the budget and financial information throughout the year.

Accounts Payable and Cash Receipts

Oversees the posting of weekly warrants to the general ledger; reviews and posts cash receipts in general ledger as received.  Monitor’s 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 Board of Selectmen.

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.

After 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 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; makes recommendations to improve financial condition

Finalizes Finance Committee's recommended budget.

 

Financial Documents