Norwich Vt Finance Office

Norwich Vt Finance Office

Norwich, Vermont Finance Office

The Finance Office for the Town of Norwich, Vermont is responsible for managing the town's financial resources, ensuring fiscal accountability, and providing financial information to the Selectboard, town departments, and the public. Located within the Town Hall, the office plays a vital role in the efficient and transparent operation of Norwich's local government.

Key Responsibilities

The Finance Office handles a wide range of financial activities, including:

* Budgeting: The office assists in the preparation and administration of the town's annual budget. This involves working with department heads to develop budget proposals, compiling these into a comprehensive budget document, and presenting the budget to the Selectboard and ultimately the voters at Town Meeting. * Accounting and Financial Reporting: Maintaining accurate financial records is a core function. This includes managing the town's general ledger, processing accounts payable and receivable, and preparing financial statements in accordance with Generally Accepted Accounting Principles (GAAP). Regular financial reports are provided to the Selectboard and other stakeholders. * Payroll: The Finance Office is responsible for processing payroll for all town employees, ensuring timely and accurate payments, and managing payroll deductions, taxes, and benefits. * Treasury Management: This encompasses managing the town's cash flow, investing funds, and managing debt. The goal is to maximize returns on investments while ensuring the safety and liquidity of town funds. * Property Tax Administration: While the Lister's Office assesses property values, the Finance Office is involved in collecting property taxes, maintaining tax records, and working with taxpayers on payment arrangements. * Auditing: The office coordinates the annual audit of the town's financial statements by an independent auditing firm. This audit provides an independent assessment of the town's financial position and compliance with regulations. * Grants Management: The Finance Office assists in the administration of grants received by the town, ensuring compliance with grant requirements and proper reporting.

Transparency and Accessibility

The Norwich Finance Office strives for transparency in its operations. Financial information, including budget documents, audit reports, and meeting minutes, are typically made available to the public through the town's website and at Town Hall. Citizens are encouraged to attend Selectboard meetings, where financial matters are often discussed. The office also provides assistance to residents who have questions about town finances.

Contact Information

For specific inquiries about town finances, residents can contact the Finance Office directly during business hours. Contact information, including phone numbers and email addresses, can be found on the Town of Norwich website.

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