Description of Services
The Assistant Town Manager for Finance oversees property assessment, revenue
collection, the Town's retirement plan, purchasing and billing for property
taxes, as well as the following
functions contained within the Comptroller's Office:
Accounting: The Town's accounting function is centralized within the
Comptroller's office, where staff maintain the fiscal records and internal
controls for the Town. . Accounting ensures that all financial
reporting requirements are in accordance with state, federal and town bylaws.
Work products include financial reports for all departments, the Town's annual financial statements, oversight of the
annual audit, and maintenance of the Town's authorized and unissued
debt.
Accounts
Payable/Payroll: The Town of Lexington maintains a departmental-based,
decentralized accounts payable/payroll system. Final oversight and sign-off
occurs through the Comptroller's office. This function services and maintains
payroll for all Town departments.
Budget:
(Link to the Budget Web)
The budget office is responsible for coordinating, developing and monitoring the
annual budget process. This involves both coordination of internal and external
budget processes
and development of procedures and systems. This office is responsible for
the review and analysis of budget requests and the monitoring of budgets
throughout the fiscal year.
Purchasing:
Supervises administrative and technical work in purchasing goods and
services such as materials, equipment, tools, parts, supplies, and services as
authorized by the laws of the Commonwealth under Chapter 30B. The Town's
procurement officer manages all competitive and public bids for goods and
services and administers inter-local cooperative purchasing agreements with
other agencies.
Retirement: Town
manages an independent retirement system for its employees. The
Town’s Retirement Office provides staff support and policy guidance to the
Retirement System’s five member Retirement Board ensuring that the provisions
of Chapter 32 of the Massachusetts General Laws are enacted properly and that
the public employee retirement regulations are carried out. Employees of the
Retirement Office work for the Retirement System and are not paid for by the
Town of Lexington.
Materials:
The following are a collection of important financial updates and information
for the Town of Lexington.
Debt
Issuances
