Matanuska-Susitna Borough Finance Department

The Matanuska-Susitna Borough Finance Department is a critical component of the local government, responsible for managing the financial resources of the borough and ensuring fiscal responsibility. This department plays a key role in the borough’s ability to provide essential services to its residents, from infrastructure maintenance to public safety.

Core Responsibilities

The Finance Department’s primary function is to oversee all financial activities within the borough. This includes:

• Budgeting: Developing and managing the annual budget, ensuring alignment with the Borough Assembly’s priorities and available funding. This involves working with all departments to understand their needs and developing a comprehensive financial plan.
• Accounting: Maintaining accurate financial records, ensuring compliance with generally accepted accounting principles (GAAP) and legal requirements. This includes recording all financial transactions, preparing financial statements, and managing the general ledger.
• Treasury: Managing the borough’s cash flow, investments, and debt. This involves maximizing returns on investments while minimizing risk and ensuring sufficient funds are available to meet the borough’s obligations.
• Procurement: Overseeing the procurement process for goods and services, ensuring fair and competitive bidding practices. This includes developing and managing contracts, and ensuring compliance with procurement regulations.
• Property Tax Assessment and Collection: Appraising property values for tax purposes and collecting property taxes, a major source of revenue for the borough. This involves maintaining accurate property records, conducting property appraisals, and managing the property tax collection process.
• Financial Reporting: Preparing comprehensive financial reports for internal and external stakeholders, including the Borough Assembly, bondholders, and the public. These reports provide transparency and accountability for the borough’s financial performance.

Importance to the Community

The Finance Department’s work directly impacts the quality of life for Matanuska-Susitna Borough residents. Effective financial management ensures that the borough can:

• Fund essential services such as schools, roads, public safety, and parks and recreation.
• Maintain infrastructure and plan for future growth.
• Provide transparency and accountability to taxpayers.
• Attract and retain businesses by creating a stable and predictable financial environment.

Commitment to Transparency and Accountability

The Matanuska-Susitna Borough Finance Department is committed to transparency and accountability in all its operations. It strives to provide clear and accessible information to the public about the borough’s finances. This includes making financial reports readily available online and conducting public budget hearings to solicit input from residents.

The department also adheres to rigorous internal controls and undergoes regular audits to ensure compliance with all applicable laws and regulations. This helps to safeguard the borough’s financial resources and maintain public trust.