Program Description

The Department of Municipal Finance (DMF) includes Accounting, Treasury, Collecting, Assessing and Information Systems. Staff cooperation from each division provides for all financial services and activities carried out by all municipal officers and agents of the Town of Provincetown. The DMF provides support to all departments, boards and committees in any matter related to financial affairs. Departmental responsibilities include compliance with Massachusetts General Laws and the Massachusetts Department of Revenue’s schedule for submission of reports. The DMF also manages all debt issuance and payment as well as audit inquiry and compliance.

Major Accomplishments for 2020

• Avoid deficit spending by reacting to the State and Local declarations of emergency with spending and hiring freezes

• Reduce planned CIP and operating expenditures in anticipation of FY2021 lost revenue to produce a balanced budget

• Postpone planned long term bonding during unstable market conditions

• Prepare for unanticipated expenditures and loss of revenue by recommendation for creation and funding of an Emergency Response Stabilization Fund with FY2019 remaining free cash

• Maintained positive bond rating.

• Funded 89% of General Governmental FY20 CIP without borrowing.

• Significantly reduced tax title receivable balances due to consistent collection efforts.

FY 2022 Objectives

• Continue training and cross training for finance department staff.
• Implement MUNIS Betterment and PO modules.
• Continue to develop and implement financial policies.
• Continue developing budgeting and forecasting software that includes data analysis.