Five Things Every Finance Officer Should Do
Network. Call finance officers in surrounding cities and counties, especially if there is a larger unit with an established department. Create your own network – it will pay off!
If you don’t know – ask! LGC staff’s COACH team, the NC League of Municipalities, the NC Association of County Commissioners, and the UNC School of Government all have staff willing and able to answer your questions.
Understand your role in the audit process. It’s YOUR audit, YOUR financial records, and YOUR responsibility to ensure the audit is submitted timely. Learn as much as you can during every audit process, and be sure to understand the audit, contract, and invoice requirements and deadlines under North Carolina statutes and Administrative Code (including audit contracts, audit billings, and response to the independent auditor’s findings, recommendations, and fiscal matters).
Ask WHY? And ask it again. You cannot ask this question too often. Even if you’ve been told “that’s how we’ve always done it”, it’s your responsibility to understand what your unit is doing, know if it’s correct, and if it isn’t - to correct it.
Be visible. Develop and maintain relationships with department heads and other members of the management team.
Five Things Every Finance Officer Should Know
Your duties as finance officer. Somehow, someway, take the classes and training you need to understand the foundational basics for being a finance officer. The UNC School of Government Introduction to Local Government Finance class or other classes and training offered by the NC League of Municipalities, the NC Association of County Commissioners, the UNC School of Government, community colleges, and the staff of the LGC all help you to learn your duties and responsibilities as finance officer.
The Local Government Budget and Fiscal Control Act. Read, read, and read again the Local Government Budget and Fiscal Control Act. These are the laws that govern local government finance in North Carolina. When you want to know what you can do, cannot do, and must do - this is where you can find the answers.
Due Dates. Familiarize yourself with all due dates. The UNC School of Government offers a Finance Calendar of Duties for City and County Officials, and LGC staff provides a list of reporting requirements and due dates for items due to the LGC.
The latest standards and laws. Accounting standards, local government finance laws, and other areas see changes and updates. Network, read, and take training to stay up-to-date and keep your skills fresh.
We’re here to help! LGC staff is happy to answer questions, provide resources and guidance, and help you in your very important role as a finance officer. Email us at SLGFD@nctreasurer.com or call 919-814-4300.