The Finance Department is responsible for administering and maintaining the town’s fiscal operations. These operations are governed by N. C. General Statutes, generally accepted accounting principles, State and Federal grant requirements, and ordinances, policies, and procedures adopted by the Town. The duties and operations of the department include accounting and financial reporting, cash management, accounts payable, fixed assets, debt and debt service management, privilege licenses, payroll, purchasing and procurement, commercial sanitation and miscellaneous billings. The department also has a major role in the town’s insurance and risk management services.
Financial Information & Budgets
One of the department’s primary responsibilities is providing accurate and timely financial information for internal and external use. This includes maintaining the general ledger and subsidiary ledger for the town’s various funds, preparing reconciliations, reporting to outside agencies such as the state and federal government, providing financial statements and related information to the Board of Commissioners and town management, and ensuring that funds are spent in accordance with the annual budget and multi-year project ordinance budgets adopted by the Town of Hope Mills Board of Commissioners. The department also works closely with the town manager in preparing the annual operating budget.