AUGUST 18, 2015 LAST UPDATED: TUESDAY, AUGUST 18, 2015, 9:54 AM
BY MARK KRULISH
STAFF WRITER |
THE RIDGEWOOD NEWS
In an effort to supply the governing body with more financial and budgetary information on a regular basis, the village conducted the first of what will be a quarterly review of Ridgewood’s finances earlier this month.
Village Chief Financial Officer Bob Rooney, in keeping with his goal of providing timely financial information to the council, was on hand at the Aug. 5 council meeting to update the dais on the municipality’s financial state.
In the future, such financial reviews will be given on a quarterly basis, Rooney said.
“Part of the goal is to give you a balance sheet and statement of income on a quarterly basis by fund and, at least annually, give you an update as to our fixed assets – the flow, the acquisition, the disposition – providing you as much as possible,” Rooney said. “Since it is a work in progress, I’m going to ask for your input. Whenever you see there’s something you want or you feel is important, by all means reach out to me.”
Rooney said village officials had already met with some departments, such as the police, building and fleet, to get a better understanding of their needs going forward and had planned meetings with other departments in the near future.
For this report, the financial team looked at line items with deviations that were higher than expected, said Rooney. Charges were evaluated against prior history and known budget requests by the department. Explanations from department heads, where applicable, were also provided.
https://www.northjersey.com/news/cfo-keeping-tabs-on-spending-1.1394056
