Carteret County Finance Office

The Carteret County Finance Office plays a vital role in managing the financial resources of Carteret County, North Carolina. It is responsible for overseeing all aspects of the county’s financial operations, ensuring accountability, transparency, and efficient allocation of taxpayer dollars.

Key Responsibilities

The Finance Office’s responsibilities are wide-ranging and crucial for the smooth functioning of county government. These include:

• Budgeting: Developing and managing the county’s annual budget, working collaboratively with various departments to align spending with strategic priorities and community needs. This involves forecasting revenues, analyzing expenditure requests, and presenting a balanced budget to the Board of Commissioners for approval.
• Accounting and Financial Reporting: Maintaining accurate and up-to-date financial records, adhering to Generally Accepted Accounting Principles (GAAP), and preparing comprehensive financial reports, including the Annual Comprehensive Financial Report (ACFR). These reports provide stakeholders with a clear picture of the county’s financial health.
• Accounts Payable and Receivable: Processing invoices for goods and services received by the county, ensuring timely payment to vendors. It also involves managing accounts receivable, collecting revenues owed to the county, and implementing effective collection procedures.
• Payroll: Accurately processing payroll for all county employees, ensuring compliance with federal and state regulations, including tax withholding and reporting. This includes managing employee benefits and deductions.
• Cash Management: Managing the county’s cash flow, investing surplus funds in accordance with investment policies, and ensuring the security of county assets. This involves maintaining banking relationships and optimizing investment returns.
• Debt Management: Planning and managing the county’s debt obligations, seeking favorable financing terms, and ensuring compliance with debt covenants.
• Grant Management: Overseeing the financial aspects of grant funding received by the county, ensuring compliance with grant requirements and proper accounting for grant expenditures.
• Internal Controls: Establishing and maintaining strong internal controls to safeguard county assets, prevent fraud, and ensure the integrity of financial operations.

Commitment to Transparency

The Carteret County Finance Office is committed to transparency and accountability in its operations. The office provides access to financial information through its website and responds to public inquiries regarding county finances. The Annual Comprehensive Financial Report (ACFR) is typically available for review, offering a detailed overview of the county’s financial performance.

Importance to the Community

The Finance Office’s work directly impacts the quality of life for Carteret County residents. By ensuring sound financial management, the office helps to provide essential services such as public safety, education, infrastructure, and social services. Effective financial planning and resource allocation are critical for supporting a thriving community and meeting the needs of its citizens.