Accounting oversees financial reporting services to all Town Departments, Boards, Commissions and other Regulatory Agencies in accordance with Massachusetts General Laws, Municipal Bylaws, and Generally Accepted Accounting Principles.
This fiscal year, Accounting maintained records for more than 1,000 employees (full and part-time), processed payroll for the Town and School Departments, including, but not limited to: deductions, status changes, employee reimbursements, and the reporting of sick, vacation, and personal time accruals as well as the yearly W-2 Federal and State reporting. In addition, over 5,000 vendor payments were processed, all while performing the daily functions in support of departmental operations. The department reviews all contracts, purchase orders, and invoices for completeness and accuracy, as well as the processing of all applicable payments. Accounting is an office of five who remain relatively unknown to the public they serve through their professional, dedicated, attention-to detail work ethic. Although the work may seem repetitive from week to week, according to Aristotle “we are what we repeatedly do; excellence, therefore, is not an act, but a habit.”
For the 16th consecutive year, the department was awarded the Government Finance Officers Association’s (GFOA) Certificate of Achievement of Excellence in Financial Reporting. The Town’s independent audit is conducted in accordance with the GFOA’s Financial Reporting guidelines to show that the Town will go beyond the minimum requirements of Generally Accepted Accounting Principles (GAAP) to prepare comprehensive annual financial statements and reports. The audited financial statements reflect a fair and accurate presentation of all material aspects of the Town’s financial position and results from its operation. The Town’s general ledger is maintained following the Uniform Municipal Account System (UMAS) prescribed by the Massachusetts Department of Revenue. These standards help to ensure the accurate and timely reporting of financial and accounting information while improving transparency.