OFFICIAL WEB SITE
Monthly Financial Report
Comprehensive Annual Financial Reports (CAFR)
Schedule of Rates and Fees
NC State Treasurer Information for Town of River Bend
Awards - Comprehensive Annual Financial Report
Awards - Budget Document
Click the logo to read a press release from the Government Finance Officers Association.
Our Budget Preparation Process
Budget Preparation Process
The Town of River Bend employs a progressive and transparent budget development process that allows for significant participation from elected officials, advisory boards, staff, and the public. The budget process begins, typically in November, at a Council Retreat with a discussion of the general priorities of the Council for the next fiscal year. It is these priorities that form the framework for the preparation of the budget.
Each year, the Town Council approves scheduling a series of Budget Workshops beginning in March. This series of seven meetings allows the Council, Staff, and the public who attend, to discuss the budget in great detail, examining each expense in light of the needs of the enterprise fund areas, and the general fund departments.
Rate setting for the enterprise funds employs a professionally designed rate model that accounts for current expenses and projections for future expenses in order to suggest rates that allow sufficient revenue to cover operating expenses, debt service, and adequate reserves.
Financial and Budgetary Policies Effective May 17, 2018
Irving Van Slyke, Finance Officer
Delane Jackson, Town Manager
Margaret Theis, Finance Administrator
Luci Avery, Citizen Member
L.J. Danehy, Citizen Member
Moody's Annual Comment on River Bend
River Bend Finance Department
The Department of Finance is responsible for all activities relating to the collection of revenue and expenditure of funds for the Town. Staffed by a Finance Administrator and Finance Assistant, this department handles accounts payable, accounts receivable, payroll, tax reporting, insurance, coordinates the annual audit, and ensures timely filing of all necessary financial reports.
Supporting this small staff is the Finance Officer who is a member of the Town Council appointed to take on this added responsibility. By State Law, the Finance Officer is ultimately responsible for all financial operations of the Town. Through the Town Manager, the Finance Officer directs the activities of the Department of Finance as they carry out these important duties. The Department of Finance also works with the Town Manager and Finance Officer in the preparation of the annual budget.
The Town of River Bend operates three principle funds, two of which are enterprise funds and the other the General Fund. We have an enterprise fund for our water utility and an enterprise fund for our sewer utility.
Keeping funds separate ensures that revenues received in the enterprise areas are used only for expenses related to those areas and not for general fund type expenditures and that the enterprises are completely supported by their specific revenue and not by general fund revenue. The easiest way to think about the water and sewer funds is that they operate like a business, with prices set to ensure expenses can be paid and there is adequate reserve to handle unforeseen problems that arise.