Provide Town Council, management, departments and citizens with accurate and timely financial records and reports in the most efficient manner.
Maintain the accounting and financial reporting systems in conformance with all state and federal laws, Generally Accepted Accounting Principles (GAAP), standards of the Governmental Accounting Standards Board (GASB) and the Government Finance Officers Association (GFOA).
Provide sound and conservative fiscal management in compliance with all state and federal regulations.
Adhere to policies established by the Public Funds Investment Act, applicable bond covenants, and the Town’s adopted investment policy and ensure proper collateralization of bank deposits.
Collecting, recording, summarizing, and reporting the results of all financial transactions of the following entities in a timely manner and in accordance with generally accepted accounting principles while ensuring compliance with applicable state and federal statutes, bond covenants and grant contracts by reviewing financial data and reporting such in a timely manner. In conjunction with maintaining financial records, the Department is also responsible for the preparation for and coordination of the annual external financial audits of the three (3) entities as well as the Foundation's IRS 990 report.
Reviewing all invoices for making payments of all legally incurred and properly authorized obligations.
Processing of salaries and wages according to established procedures on specified days according to the adopted payroll calendar. The Town of Westlake operates two payroll systems concurrently; one for employees who are on a normal 40-hour work week, and another cycle for DPS employees who work 24-hour shifts. This dual system is commonplace in cities to accommodate FLSA requirements.
Establishment of strong internal controls for accounts receivable cash collections to prevent mishandling of funds and to safeguard against loss.