Finance

The Department of Finance is responsible for administering a wide variety of financial, personnel, and administrative functions of the City of Town and Country, consistent with federal, state, and municipal laws and regulations, as well as generally accepted accounting principles. 

Responsibilities


The Department of Finance provides fiscal support, oversight and control to the Mayor, Board of Aldermen, and City Departments to ensure proper fiscal management, budgeting, and accounting.  The department maintains financial, auditing, and record-keeping standards to ensure sound fiduciary practices.  The Department of Finance is responsible for safeguarding the fiscal integrity of the City of Town & Country through the development and implementation of sound policies and practices.  The Department is responsible for the following functions:

  • Develops and maintains the City's accounting system and standards
  • Acquires and monitors the property, casualty, liability, and worker's compensation insurance programs
  • Records and tracks the City's fixed assets and  capital property
  • Serves as the City's central purchasing office and manages all accounts payable functions
  • Oversees the annual audit of the City's financial records
  • Functions as the City's Treasurer by collecting revenues and accounts receivables and controlling disbursements of funds
  • Monitors revenues and expenditures during the year
  • Administers all business and liquor licenses for the City
  • Provides monthly financial statements, bi-weekly check register reports, annual financial reports, and certain special financial analyses and projects
  • Invests City funds in compliance with the City's investment policy
  • Provides financial forecasts, budget recommendations and revenue estimates
  • Responsible for all on-boarding and off-boarding processes including pre-hire screening, benefit maintenance, and changes to pay rates
  • Maintains new hires and existing staff benefit changes with insurance carriers; Administers employee benefit programs, pension and deferred compensation programs
  • Processes payroll on a bi-weekly basis; Responsible for all payroll tax functions including monthly, quarterly, and annual reporting
  • Administers workers compensation claims and benefits with employee and insurance carriers

Financial Awards & Recognition


The city holds a 'AAA' credit rating from Standard & Poor's, a rating which the City of Town and Country has held since 2001. This is the highest rating possible and a rating never before achieved by a city in the State of Missouri. Furthermore, the City of Town and Country has been included in Standard and Poor's U.S. Public Finance Report entitled AAA-Rated Credits in U.S. State and Local Government Finance dated October 2006.

There are only 70 municipalities in the United States that carry the Standard & Poor's 'AAA' rating, and Town and Country is the only municipality in the State of Missouri.

The City has been recognized for its comprehensive financial reporting by being awarded the Certificate of Achievement for Excellence in Financial Reporting (CAFR) from the Government Finance Officers Association of the United States and Canada. This is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.