Finance

Chief Financial Officer – Director of Finance

Duties and responsibilities are set forth as follows:

Supervise Finance Department staff through Division Supervisors

• Director’s Office
• Treasury
• Payroll
• Grants Management
• Revenue Collection

Monitor compliance with all applicable laws and regulations relating to finance

• Directives of the Division of Local Government Services, NJ, DCA
• Local Bond Law (40A:2), Local Budget Law (40A:4), Local Fiscal Affairs Law (40A:5), Local Public Contracts Law (40A:11) and other relevant statutes
• Rules and regulations promulgated by the Local Finance Board, Division of Local Government Services or any other State agency pertaining to financial administration
• Federal and New Jersey Single Audit Act Requirements (for grant programs)
• Continuing financial disclosure obligations, federal law, and any agreements executed as part of past issuances of debt
• Internal Revenue Regulations relating to the issuance of tax-exempt debt, employee payroll and vendor payments

Prepare and present the annual budget

• Project, calculate, document, and provide detail to support long-term plans related to surplus, revenue, appropriations, personnel costs, tax levy, tax levy caps, capital and debt
• Oversee the debt authorization and issuance process
• Monitor budget appropriations and anticipated revenue
• Develop and recommend fiscal policies (i.e. a surplus policy)

Financial Reporting

• Supervise posting, maintenance and reconciliation of all books of original entry
• Analyze general and subsidiary ledgers
• Review and present monthly Treasurer’s Reports on cash and investments
• Prepare and submit the Annual Financial Statement and Debt Statements
• Prepare “audit ready” financial schedules subject to audit review and opinion

Develop a system of Internal Controls to safeguard assets and monitor compliance

• Document processes, procedures, and authorizations
• Assure that training is provided to all relevant City personnel regarding Finance processes, procedures and authorizations
• Serve as custodian of all public funds
• Review and evaluate internal accounting control processes, procedures and authorizations for improved control, efficiency and for better financial management