Accounting

The Accounting Division maintains the Town's general ledger system, as well as the Accounts Payable and Accounts Receivable/Miscellaneous Billing functions in accordance with the NC Local Government Budget and Fiscal Control Act. This division ensures that all accounting and reporting systems are in compliance with generally accepted accounting principles. The division also coordinates audit services, monitors banking and investments, provides grant financial assistance, and prepares the Comprehensive Annual Financial Report.

Audits

Required Audit

The N.C. Local Government Budget and Fiscal Control Act requires each unit of local government in North Carolina to have its accounts audited annually by an independent certified public accountant certified by the local government commission as qualified to audit local government accounts. The Town's independent auditors are Potter & Company, P.A., in Mooresville.

Financial Audits

Budget

FY18-19 Budget

Past Fiscal Year Budgets are available online (PDF).

  • Fiscal Year begins July 1, 2018 and ends June 30, 2019.
  • Tax Rate is $0.58 per $100 of valuation.
  • To calculate your Town tax bill, divide your valuation by 100 then multiply by $0.58.

CIP

The purpose of the Capital Improvements Program (CIP) is to account for the financial resources segregated for the acquisition/construction of capital assets. These capital assets are found in the General Fund, Utility Fund, Capital Improvements General Fund, Community Development Fund, and Capital Improvements Utilities Fund.