In order to ensure sound financial management as well as transparency, North Fayette Township created its Finance Department in 2011. The activities of the Finance Department cover a wide range, from basic bookkeeping to compiling and analyzing financial data in order to assist the Township Manager and Board of Supervisors in making strategic decisions. The Finance Department's duties and responsibilities include but are not limited to the following:
- Accounting functions
- Banking and Investment functions
- Accounts Payable
- Accounts Receivable
- Financial Reporting
- Federal & State Reporting
- Budget Support & Preparation
The Finance Department is responsible for compiling current and prior year financial data and using it to prepare estimates of expected income and expenses for use in the Annual Budget Opens a New Window. . The Director of Fiscal & Administrative Services assists the Township Manager with the preparation of the budget. The budget preparation process typically commences in July and continues until final adoption by the Board of Supervisors in December.
Audited Financial Statements
North Fayette Township is audited annually by a Certified Public Accounting Firm. Auditors report the Township’s financial condition to the Department of Community and Economic Development by April 1st each year using DCED Form DCED-CLGS-30 Opens a New Window. Annual Audit and Financial Report.
In addition to the DCED report, the Auditors prepare the Annual Financial Statements and Independent Auditors Report. The Director of Fiscal & Administrative Services prepares the Management Discussion and Analysis. These reports are combined as one document and presented to the Board of Supervisors as the Annual Financial Statements and Required Supplementary and Supplementary Information Opens a New Window
The Finance Department consists of the Director of Fiscal & Administrative Services, a Finance Assistant and two part-time Receptionists.