Finance

The Department of Municipal Finance is responsible for all financial and accounting activities in the City of Beverly. Many of these activities are prescribed by Massachusetts General Laws to ensure the fair assessment and collection of revenues and the proper disbursement of funds to meet approved expenditures.

In addition these activities are further guided by the City Charter and Ordinances, sound financial and accounting business practices to meet the needs of the community. Adherence to Massachusetts General Laws, the City Charter and Ordinances is inviolate.

Responsibilities

In general, the Department of Municipal Finance is responsible for the following:

• Coordination of all financial services and activities of City government
• Maintenance of all accounting records and other financial statements for all offices and agencies of the City government
• Maintenance of all property valuation records
• Rendering advice, assistance and guidance to all other City offices and agencies
• The payment of all financial obligations of the City
• The preservation of financial records as required by law
• The receipt of all funds due to the City from all sources

In addition to the supervision of the other departments in the Department, the Director of Municipal Finance:

• Coordinates exchange of financial information between administration and City Council primarily through the Budget Management Analyst
• Coordinates financial reporting
• Monitors expenditures and revenues for all funds
• Prepares the City Budget as directed by the mayor
• Prepares the tax recapitulation submittal for the tax rate setting process