Town of Barnstable Finance Department

The Town of Barnstable Finance Department plays a crucial role in ensuring the fiscal health and stability of the municipality. Its responsibilities encompass a wide range of financial management functions, from budgeting and accounting to treasury operations and debt management. The department works diligently to safeguard taxpayer dollars, promote transparency, and provide accurate and timely financial information to town officials and the public.

Key Responsibilities

The Finance Department’s core functions include:

Budgeting: Developing and managing the town’s annual operating and capital budgets. This involves collaborating with all town departments to project revenues, estimate expenditures, and allocate resources effectively to meet the community’s needs. The department also monitors budget performance throughout the year and makes necessary adjustments.
Accounting: Maintaining accurate and comprehensive financial records in accordance with Generally Accepted Accounting Principles (GAAP). This includes processing accounts payable and receivable, managing the general ledger, and preparing financial statements.
Treasury: Overseeing the town’s cash management activities, including investing funds, managing debt, and processing payroll. The department strives to maximize investment returns while ensuring the safety and liquidity of town funds.
Debt Management: Issuing and managing municipal debt to finance capital projects such as infrastructure improvements and school construction. The department works to obtain favorable interest rates and ensure compliance with all debt covenants.
Procurement: Ensuring that all town purchases are made in a fair, competitive, and transparent manner, following established procurement policies and procedures.
Auditing: Coordinating the annual independent audit of the town’s financial statements.
Assessing: Calculating and collecting property taxes, which are a primary source of revenue for the town.

Commitment to Transparency

The Barnstable Finance Department is committed to providing transparent and accessible financial information to the public. The department publishes its annual budget, financial statements, and other financial reports on the town’s website. Residents are encouraged to review these documents to understand how their tax dollars are being used.

Contact Information

The Barnstable Finance Department is located at [Insert Address Here] and can be reached by phone at [Insert Phone Number Here] or by email at [Insert Email Address Here]. The department is dedicated to serving the financial needs of the Town of Barnstable and its residents.