The purpose of financial policies is to enable the Town to achieve and maintain a stable and positive long-term financial condition. More specifically, it is to provide guidelines for the Finance Director in planning and directing the Town’s day to day financial affairs so recommendations can be made to the Town Manager.
The scope of these policies includes accounting, auditing, financial reporting, internal controls, operating and capital improvements program, revenue management, cash and investment management, expenditure control, asset management, debt management and planning concepts. The financial policy statements define objectives, establish rules with parameters and express guidelines for fiscal guidelines by the Town in connection with the operating budget and capital improvement program.
Financial policies are reviewed annually by the Town Manager and Finance Director as a part of the budget process.