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.

 

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