FAQ Topic: Finance FAQs

When does the City prepare the budget?

The City’s budget is prepared on a fiscal year basis (for the period beginning July 1 and ending June 30 of the following year). Planning and preparation of the next year’s budget begins in January.  It is usually completed in April and ready for the Board’s approval.

Is the City audited?

The City of Munford is audited annually by an independent certified public accounting firm as required by state law. The Division of Local Government Audit monitors our audits by approving the Contract to Audit and reviewing the completed audit reports.

What is the Finance Departments responsibilities?

Responsibilities include financial planning and reporting, taxation, utility billing and receipts, payroll, retirement, insurance, debt management, risk management, purchasing, fixed assets and record retention.

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