The objective of the Finance Department is twofold. First, this office must conduct the necessary economic and financial analyses to ensure the orderly financial development of Monmouth County. Secondly, to provide the necessary accounting parameters to ensure the sound preparation and maintenance of accounting records as prescribed by the New Jersey Statutes Annotated (NJSA) 40A.
The principal activities of the Finance Department are to provide sound financial guidance with regard to the following: the preparation and eventual implementation of the Annual Operating and Capital Budgets; treasury, debt and grant management. In addition to providing sound financial guidance, the Finance Department strives to enhance the efficient and effective allocation of the County's limited resources.
The budget is a legal document containing general revenue appropriations and the Capital Improvement Plan. Prior to its adoption, a temporary budget is prepared allowing for continued County operations during the first quarter of the year. Financial statements are prepared and submitted to the State and indicate the financial conditions of the County throughout the year. Various reconciliations, accounting statements, and financial reports are required to prepare the statement.
The Board of Chosen Freeholders has given fiscal stability the highest priority as reflected by the current Triple-A rating given by three established rating agencies.