Goals & Responsibilities

Finance Department Goals

• Accurate financial information will be made easily and readily available to departments.
• Financial reports will be issued accurately and on schedule.
• The Finance Department will adhere to contractual requirements in grants and capital project reporting.
• The Finance Department will safeguard financial assets and maximize investment earnings.
• The general ledger, primary document for financial operations of the County, will be kept current and accurate.

Responsibilities

The Finance Department has implemented procedures and policies that:

• Maximize accurate accounting
• Prompt payment of obligations
• Preservation of high credit ratings
• Management information for decision-making
• Timely and meaningful financial reporting
• Effective financial planning

The Finance Department consists of 12 employees charged with the role of acting as a financial consulting group for the Wayne County Board of Commissioners.

The Finance Department is responsible for:

General ledger and financial reporting

• Accounts payable
• Accounts receivable
• Audit responsibilities
• Banking services
• Budgeting
• Cash and investments
• Contracting
• Debt financing
• Insurance
• Internal controls
• Investments
• Purchasing

Every employee of the Finance Department possesses unique potential and accepts the responsibilities of the position.

The Finance Department operates on an annual financial year, which is distinct from the calendar year. For example, the fiscal year 2012-2013 began on July 1, 2012 and ended on June 30, 2013. Both the annual audit and annual budget are prepared based on our fiscal year dates.