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Chapter 1 - Municipal Finance: An Overview
Complexity of Local Government
Powers and Duties of Cities and Towns
The Legal Foundation of Municipal Finance
The Structure of City Government
The Structure of Town Government
City Auditors /Town Accountants
Optional Forms of Municipal Administration
Chapter 2 - Duties and Responsibilities of the Treasurer
Responsibilities of and Functions Carried Out by the Treasurer
Miscellaneous Statutory Provisions Applying to Treasurers
Assistant, Temporary, and District Treasurers, and Acting Collector-Treasurers
Treasurers Acting as Collector of Taxes
Cash Receipt and Disbursement Records
Supporting Documentation for Cash Book
Classification Book or Worksheet
Required Reports: Reporting from the Cash Book
Bank Ledger (Master Check Register)
Substantive or Validation Tests
Procedures for Handling Unclaimed Checks
Reconciliation of Bank Statement
Utilizing a Reconciliation Worksheet
Preliminary Work for Preparing a Reconciliation Worksheet
Making Entries on the Reconciliation Worksheet
Reconciling the Cashbook to the Ledger
Chapter 5 - Tax Titles and Foreclosures
Maintaining Records on Tax Title Accounts
Redeeming a Tax Title with Installment Payments
Foreclosures in the Land Court
When a Foreclosure Petition May Be Brought
Funding Tax Title Foreclosures
Notification by the Land Court to Interested Parties
Filing an Appearance or Objection (60:68)
The Issuing of a Foreclosure Decree
Redemption of Tax Titles Which Have Been Foreclosed
If the Request for Redemption is Denied
Leasing of Tax Possession Property
Persons Not Eligible to Purchase Tax Possession Property
Foreclosure Procedures for Land of Low Value
Collection Procedures, Tax Titles and Foreclosures
Subdivision Rules and Regulations
Suspension, Denial or Revocation of Local Licenses and Permits
Assessment of Future Taxes by Bank or Mortgage Companies
Collection from Descendants Estates
Deed(s) in Lieu of Foreclosure
Tax Title Collection Policies and Procedures
Certification of Subsequent Taxes to Tax Title Accounts (60:61)
Chapter 6 - Trust Funds, Grants and Other Special Funds
Distinguishing between Trust Funds and Gifts
A Municipality’s Authority to Hold Trust Funds
Board of Commissioners of Trust Funds
The Board of Selectmen as Trust Fund Commissioners
The Treasurer and the Trust Fund Commissioners
Cemetery Commissioners and Perpetual Care Funds
Library Trustees and Gifts to Libraries
Municipal Trust Funds when the Principal is not in the Custody of the Community
Investment of Trust Funds in the Custody of the Treasurer
Unemployment Compensation Fund
Scholarship Fund or Education Fund
Elderly and Disabled Taxation Fund
Reconciliation of Payroll Deductions
Examples of Payroll Records to be Kept on File
Reporting and Payment Transmittal Requirements
Social Security, Medicare and Income Taxes
Financial Institutions; Credit Unions
Making Payments Electronically or Manually
When to Deposit Employment Taxes
State Tax Deposit Requirements for Employment Taxes
Miscellaneous Legal Requirements Information
Covered Individual or Qualified Beneficiary
Unemployment Compensation (151A: 14A)
Family and Medical Leave Act of 1993 (FMLA)
Advance Notice and Medical Certification
Massachusetts Maternity Leave Act (149:105D)
Fair Labor Standards Act (29 USCA §§201-219)
Law Enforcement and Fire Protection Personnel under FLSA
Personal Use of Municipally-Provided Vehicles
Calculating the Value of Personal Use a Municipally-Provided Vehicle
Sexual Harassment: Policy and Procedure
Public Employee Retirement Administration Commission (PERAC)
Tax Status of Pension Contributions
Management of Retirement Funds
Investment of Retirement Funds
Treasurer Designated Custodian of Investments/Securities
Treasurer’s Duties when Custody of Investments Is Designated to Others
Procedures for Handling Pension Fund Receipts
Application for Membership in System
Contributions from Members of Municipal Retirement Systems
Municipal Pension Reserve Fund [40:5D]
Recording Cash Receipts of Retirement System Funds
Disbursements of Retirement System Funds
Handling Withholdings from Pensions
Recording Disbursements [840 CMR 4.01]
Reconciliation to Bank Records
Compensation for Treasurer’s Duties
County and Regional Retirement Systems
County and Regional Retirement Boards and Advisory Councils
Contributions from Members of County or Regional Retirement Systems
Payroll Deductions for Employees Who Work for Multiple Units
Semiannual Payments to County or Regional System
The Treasurer’s Monthly Retirement Deduction Report
Symbols Designating Non-Members of the Retirement System
Purposes for Short-term Borrowing
Revenue Anticipation Notes (RANs)
Issues relating to Revenue Anticipation Borrowings
Grant Anticipation Notes (GANs)
State Aid Anticipation Notes (SAANs)
Federal Aid Anticipation Notes (FAANs)
Bond Anticipation Notes (BANs)
Procedures for Short-term Borrowing
Procedures for Long-term Borrowing
Issuing Bonds or State House Serial Notes
Determining the Maturity Schedule
Deciding the Manner in Which the Loan Will be Awarded
Alternatives to Competitive Bidding
Requisite Actions before Proceeding with a Sale
State Distributions to Pay Debt Service
State School Building Assistance
Water Pollution Abatement Trust
Municipal Securities Disclosure Requirements
Provisions Affecting Municipalities
Effects of Tax Reform on Municipal Debt
Chapter 10 - Financing Capital Improvements
Steps in Implementing a Capital Improvements Program
Role of the Treasurer—Identifying and Evaluating Financing Options
Absorbing the Debt Service within the Operating Budget
Proposition 2 ½ Debt Exclusions
Common Financing Options for Capital Improvement Projects
Summary of Short and Long-Term Options
Financing Capital Projects at the Best Interest Rate—How Bond Analysts Evaluate Municipalities
Chapter 11 - Effective Cash Management
Elements of an Effective Cash Management Program
Estimating Collection Receipts
Analyzing Cash Flow and Preparing a Budget
Suggestions for Improving Cash Flow
Effectively Investing Available Cash
Money Market Deposit Accounts (MMDAs)
Massachusetts Municipal Depository Trust
U.S. Government Agency Obligations
Mutual Fund Money Market Accounts
Typical Receipts and Disbursements
Chapter 12 - Procuring Banking Services
Importance of Staying Current with Advances in Banking Services
How Banks Can Help Improve Municipal Cash Management
Types of Accounts Available and Account Purposes
Maximization of Information on Accounts
Maximization of Efficiency between Accounts
Advisory and Management Services
Market-Based Investment Products
Steps in the Competitive Bidding Process
Evaluating Relationship with Depository Bank
Computing the Cost of Banking Services