(A) Appointment. The Manager shall appoint a Finance Officer.
(B) Duties. The duties of the Finance Officer shall be to:
(1) Keep the town's accounts in accordance with generally accepted principles of governmental accounting and the rules and regulations of the Local Government Commission;
(2) Disburse all funds of the town in strict compliance with the Local Government Budget and Fiscal Control Act, the budget ordinance and each project ordinance, and pre-audit obligations and disbursements as required by the Local Government Budget and Fiscal Control Act;
(3) Prepare and file with the Council a statement of the financial condition of the town whenever requested to do so by the Council;
(4) Receive and deposit all monies accruing to the town and supervise the receipt and deposit of money by other duly authorized officers or employees;
(5) Maintain all records concerning the town's bonded debt, and determine the amount of money that will be required for debt service during each fiscal year, and maintain all sinking funds;
(6) Supervise the investment of the town's idle funds; and
(7) Perform other duties as may be assigned to him or her by law, the Budget Officer, the Council or by rules and regulations of Local Government Commission.