The Finance Department is divided into three divisions: Treasury, Payroll/Personnel, Purchasing, and Collections
CHIEF FINANCIAL OFFICER (CFO)
Within the Department of Administration and Finance, there shall be a Division of the Treasury, the head of which shall be the Chief Financial Officer.
Powers and duties. The Division shall:
- Have custody of all funds of the Township to be deposited in authorized depositories.
- Have custody of all investments and invested funds of the municipality or in its possession in a fiduciary capacity, except as otherwise provided by law, and keep such funds and all municipal moneys not required for current operations safely invested or deposited in interest-bearing accounts as may be approved by the Administrator.
- Make disbursements of municipal funds solely upon warrant and authorization in the manner provided by the Administrative Code.
- Maintain accounts and control of all cash receipts, disbursements, and encumbrances, and make reports thereof, in accordance with the system of accounts approved or prescribed; and prepare a monthly statement of the unexpended and unencumbered balance in each account, for the information of the Council, Mayor, Business Administrator, and the general public.
- Develop, maintain and enforce a uniform system of accounts, including forms, standards, and procedures for all departments of the Township government.
- Maintain and operate the Township's central bookkeeping and accounting records according to sound accounting principles and in accordance with the requirements of the Director of the State Division of Local Finance.
- Install and provide such records and reports as may be prescribed or approved by the Business Administrator for the determination of the cost of performance of each functional program or activity, measured in such work units as may be appropriate thereto.
- Supervise the administration of the Township debt and the receipt and delivery of Township bonds and notes for transfer, registration, or exchange.
- Maintain adequate records of all assets, liabilities, and financial transactions.
- Set up and maintain general ledgers, sub-ledgers, and property records.
- Set up and maintain the accounting and documentation necessary for federal- and state-funded programs.
- Chief Finance Officer oversees the Finance function. The CFO is also responsible for the correct financial reporting, budget preparation, investment of the idle fund, sound budget spending, etc.
The Treasury/Disbursement office is responsible for cash receipts and disbursements. Cash collected from various departments is posted into the receipt journal. Bills' list for cash payments is processed for Council's approval on the first and third Wednesday of every month, except January, July, August, and November, processed once a month.
The Payroll/Personnel office processes payroll twice per month with proper documentation filed. In addition, payroll/personnel is responsible for assisting all department heads with their human resources employment/personnel needs.
The Purchasing office performs the central purchasing function in accordance with all NJ State Department of Local Government Services regulations. All the purchases are requisitioned by the department heads, approved by the town administrator, and encumbered into the budget. Through the encumbrance system, over-expenditure is avoided, and payment is expedited.