The Accounting office provides accounting support to all departments of the Town. Payments to all Town vendors are processed through this department. The office is responsible for budgetary oversight and accurate maintenance and review of all expenditures and financial records pertaining to all Town appropriations.
Comprehensive Annual Financial Reports
The CAFR is a set of financial statements for the town that comply with the accounting requirements established by the Governmental Accounting Standards Board (GASB). They are audited annually by the Town’s independent auditor using generally accepted government auditing standards. A regular annual report typically presents only basic financial statements. A CAFR, by contrast, goes beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports.
Previously known as the OMB Circular A-133 audit, is an organization-wide financial statement and federal awards’ audit of a non-federal entity that expends $750,000 or more in federal funds in one year. It is intended to provide assurance to the Federal Government that a non-federal entity has adequate internal controls in place, and is generally in compliance with program requirements.