Finance

The Village's Finance Department provides all accounting services, performs investment and cash management activities, and coordinates capital financing, purchasing, budget preparation and control, as well as audit preparation and compliance. As required by statute, the treasurer provides regular reports on the fiscal condition of the Village to the Mayor and the Board of Trustees.

Mission Statement

To maintain the financial integrity of the Village and to provide comprehensive and integrated financial management and purchasing services to Village departments so that they can accomplish their missions.

Objectives

The Director of Finance coordinates all of the financial affairs of the Village, establishes and maintains necessary controls, and supervises the employees and activities of the Finance Department. The objectives of the Finance Department are as follows:

• Operate accounting systems in conformance with professional accounting practice and statutory requirements.
• Prepare regular reports on the financial condition of the Village as directed by the Mayor and Board of Trustees or required by statute.
• Develop and recommend to the Mayor and Board of Trustees arrangements for the efficient financing of capital improvements.
• Perform financial planning through the identification of future expenses and analysis of potential revenue sources.
• Review all departmental payment requests, prepare documents for consideration by the Mayor and Board of Trustees, and disburse all approved funds in a timely manner.
• Invest temporarily idle funds to earn the highest possible return while at all times protecting the safety of principal through the use of sound investment practices.
• Calculate, distribute, and collect utility bills, vehicle and animal licenses and other charges for village services at the rates established by the Mayor and Board of Trustees.
• Efficiently collect and process all receipts in order to maximize investment earnings, while conforming to investment guidelines.
• Maintain accurate and efficient information services to support billing, collections, accounting, and document preparation.
• Establish purchasing procedures and assist operating departments to achieve optimum value for funds expended for equipment, supplies, and services.
• Provide budget preparation support to the Village Manager and operating departments to assure accuracy and timely submission to the Mayor and Board of Trustees.
• Coordinate budget implementation to assure conformance with funding limits and other budgetary controls.
• Facilitate the collection of information required for the development of the annual audit and preparation of the Annual Comprehensive Financial Report.