In general, the Finance Office is responsible for maintaining control and reporting on all financial activity of the Borough of Hopatcong. This includes, but is not limited to, operating and capital funds for general, water and sewer activities; animal control trust, other trusts, fixed assets, payroll and accounts payable. The Finance Office is staffed by two individuals, the Chief Financial Officer (CFO) and the Finance Assistance (FA).
The CFO is responsible for the preparation of the annual financial statements, annual and supplemental debt statements and balance sheets of all Borough funds and for all general financial matters. This includes debt issuance, revenue analysis, and monitoring expenditures. The CFO oversees all financial records in order to determine the financial position of the Borough, compliance with various laws and regulations and procedural accuracy. The CFO also advises the Mayor, Council, Administrator and department heads on financial/budgetary matters and is responsible for all other general fiscal functions.
The FA is responsible for the preparation and maintenance of employee payroll and health insurance files, bi-weekly payroll, supervise the agency payments in accordance with contractual and legal regulations. The FA supervises the reconciliation and preparation of quarterly pension and wage tax reporting. The FA also coordinates the payments of bills and assists department heads and the purchasing agent in purchasing matters. The FA also maintains fixed asset and attendance records.
The Governing Body of the Borough of Hopatcong authorizes the payment of municipal obligations at its regular business meetings, generally held on the first and third Wednesday of each month.