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Town Government
Accounting Procedures for Local Government
The Auditors Office receives many calls each year regarding accounting procedures for local government. Questions cover many topics -- from tax rates to salaries to record-keeping and much more.
We have found that a Financial Checklist for Vermont Towns is helpful to ordinary citizens interested in the finance of their local school district or town and to people working in town and city governments.
This checklist provides a summary of key issues that pertain to adequate accounting, management and reporting of tax dollars in local goverment. The State laws that are cited throughout the checklist provide further information and guidance on the accounting and procedural requirements of towns and cities regarding public funds.
There are numerous free publications available to you through the Vermont League of Cities and Towns. Their toll free number is 800 649-7915 or they can be reached at www.vlct.org
Town and City Financial Management and Auditing
Vermont citizens trust that public officials elected, appointed, and employees are wise custodians of their tax dollars. Public officials validate this trust by employing strong financial management controls and ensuring that the books of accounts accurately reflect the financial activities of the fiscal year and are auditable.
Vermont law require that the towns and cities account for the monies entrusted to them and that these records be audited. The Secretary of State's office has compiled a list of laws pertaining to Vermont local government, including those pertaining to the duties of treasurers and auditors. In addition, in October 2002, the SAO published an internal control checklist for the use of town financial officials.
County Sheriff's Financial Management and Auditing
24 V.S.A. §290b requires that the Auditor of Accounts adopt, and the Sheriff's comply with, a uniform system of accounts, controls, and procedures for the sheriff's departments. In September 2004, the SAO issued the latest version of the Uniform Accounting Manual to fulfill this requirement. Copies of this manual can be obtained by making a request via email, telephone (802-828-2281), or letter. This statute also requires that the Sheriff retain a public accountant biennially to conduct an audit of the financial systems, controls, and procedures within the department and forward this report to the Auditor of Accounts and assistant judges.
Grants
Many local governments apply for federal grants directly or through various state agencies. The following web sites provide information on applying for grants and various federal requirements pertaining to their administration.
U.S. Government Grants Portal
This web site allows organizations to electronically find and apply for more than $400 billion in Federal grants. It is the single access point for over 1,000 grant programs offered by all Federal grant-making agencies.
Catalog of Federal Domestic Assistance
This web site provides access to a database of all Federal programs available to State and local governments (including the District of Columbia); federally-recognized Indian tribal governments; Territories (and possessions) of the United States; domestic public, quasi-public, and private profit and nonprofit organizations and institutions; specialized groups; and individuals. The primary purpose of the Catalog is to assist users in identifying programs that meet specific objectives of the potential applicant, and to obtain general information on Federal assistance programs.
OMB web site
The OMB web site contains a variety of requirements related to the administration of federal grants by state and local government. For example, OMB Circular A-87 provides the principles and standards for determining allowable costs for grant awards. In addition, Circular A-133 covers the audit requirements related to grants. Please also be aware that OMB often issues guidance and directions through memoranda and bulletins, which are also contained on this web site.
Other Pertinent Information
The Vermont League of Cities and Towns provides a wealth of information on its web site pertinent to local governments.
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