(A) Appointment. The Council 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, 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, 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 such other duties as may be assigned to him or her by law, the Budget Officer, the Council or by rules and regulations of the Local Government Commission.
(Prior Code, § 3-4)