The Finance Department is separated into three divisions: Treasury, Tax Collection and Tax Assessment. The Treasurer’s Division is responsible for the depositing and investing all cash receipts collected by various municipal departments. The Treasurer also is responsible for all disbursements payable to its vendors and professionals once a bills’ list is formally adopted by the council. In most cases, bills are approved for payment on the first(1st) and fourth(4th) Wednesdays of each month. All disbursements are monitored to assure compliance with statutory procurement codes. Payroll disbursements are processed by the Treasurer’s Division as well as relating mandatory financial reports subsequently submitted to various federal and state agencies. Payroll is processed on a biweekly basis.
The Tax Collector is responsible for the billing and collection of property taxes, reporting to the proper authorities and enforcing state statutes.
The Tax Assessor helps assure that all property and property improvements appear on the tax rolls of the municipality. This is very important because it enables the municipality to bill and collect all taxes liable to the Township of West Milford. The Assessor places all new improvements on the municipal tax rolls such as new housing or commercial entities, improvements to existing structures, etc. Occasionally, it is the responsibility of the Assessor to conduct a total municipal property revaluation. This is a massive project only conducted when the market verses assessed ratio is substantially unreasonable.
Other responsibilities of the Finance Department include: The creation and monitoring of the operating and capital budgets adopted annually by the council. Soliciting bids for note and bonds bought by various investment agencies. Monitoring of cash flows. Maintaining banking relations. Production and enforcement various financial procedures.