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Finance
Mission
To assure effective financial management by processing transactions efficiently, overseeing the Town’s debt, and providing the Board and management the financial information necessary for decision-making.
Vision
To provide accurate, efficient, and timely service to internal and external customers.
The Finance Department is legally responsible for establishing the accounting system, controlling expenditures, managing cash and other assets, and preparing financial reports. This department works with the Town Administrator to develop a budget that meets the needs of the community.
The Finance Director serves as the Town’s chief financial officer and is responsible for planning and directing the financial affairs of the Town in compliance with federal, state, and local financial laws, ordinances, and regulations.
Department Overview
The Department of Finance is responsible for the accounting and payroll functions of the Town. The Department is comprised of four functional areas: Accounting, Payroll & Benefits, Purchasing, and Audit.
Department Duties
The Finance Department has the following primary duties:
- Process accounts payable/receivable
- Employee payroll
- Benefits administration for employees
- Process purchasing requests from Departments
- Provide financial reports to the Board for review and oversight
- Serve as a liaison between the Board of Commissioners and the Town Auditor
Department Staff
Lori Frye, Finance Director
Contact Us
Telephone 910-575-4877
Fax 910-575-4812
Town of Carolina Shores Budgets
The Town of Carolina Shores operates on a fiscal year budget running from July 1 to June 30 of every year. The Town begins the budget adoption process in the late winter of each year and must adopt a budget prior to July 1.
The current fiscal year of the Town is FY 2023-2024.
Town Financial Audits
The Town of Carolina Shores is required to perform an independent audit and to report its findings to an independent oversight body - the Local Government Commission, audits run one year behind the current fiscal year and are typically available mid-way through the current fiscal year (November-December).
Capital Improvement Plan
The Town of Carolina Shores has an adopted Capital Improvement Plan (CIP) to guide capital expenditures into FY 30. The CIP is developed by the Town Staff and Board of Commissioners based on a needs assessment of capital construction and/or reconstruction. The CIP is then reviewed and adopted by the Board of Commissioners as a policy tool to guide capital expenditures in the annual budget process.