a)      Budget Implementation - On July 1st of each year, the adopted budget is implemented. Throughout the year, expenditures and revenues are monitored in order to ensure the service plan is implemented and to more fully prepare for the subsequent year.

b)      Purchasing Procedures - Purchases are made in a manner consistent with the Purchasing Policy adopted by the Selectboard in September 2019. 

c)      Claims for town expenses - The Selectboard is charged with the responsibility of examining and allowing claims against the town for town expenses and may draw orders for such claims to the party entitled to payment (24 V.S.A. § 1623).  Since requiring a majority of the Board to act in concurrence on the claims, may result in delays in paying vendors, the state statutes provide for an alternative by enabling the Board to authorize one or more members of the Board to discharge this responsibility (24 V.S.A. § 1623). The specific policy on this practice is approved each year as part of the Selectboard Rules of Transaction. (See Selectboard Rules of Transaction)

d)      Financial Reports - The Finance Director prepares monthly reports for review by the Selectboard.  These are typically included with the Selectboard agenda packet as part of the Manager’s Report.

e)      Annual Audit - Each year an independent auditing firm is selected to conduct a thorough review of the Towns’ accounting system, policies and practices. The firm reviews the adequacy of internal accounting controls. Internal accounting controls are designed to provide reasonable, but not absolute, assurance regarding: (1) the safeguarding of assets against loss from unauthorized use or disposition; and (2) the reliability of financial records for preparing financial statements and maintaining accountability for assets.

f)      Internal Controls - As a recipient of federal and state assistance, the Town is also responsible for ensuring that an adequate internal control structure is in place in order to secure compliance with applicable laws and regulations related to those programs. This internal control structure is subject to periodic evaluation by the independent auditing firm as well as by the Finance Director.