Wellfleet needs to steady its financial future. It could take years.

Wellfleet needs to steady its financial future. It could take years.

WELLFLEET — Right after three years of inaccurate and incomplete money reporting, the condition Division of Local Providers gave Pick out Board and Finance Committee customers tough tips at a joint assembly Tuesday night.  

Choosing a finance director and consolidating the town’s money functions is paramount, in accordance to condition Senior Project Supervisor Marcia Bohinc. 

A 90-moment presentation by Bohinc, Bureau Main Zack Blake and Bureau of Accounts Chief Deb Wagner laid out the conclusions of a 37-web site report created at the ask for of the decide on board. The division gave 20 recommendations for improving the town’s finance division, instituting fiscal scheduling strategies and bettering over-all financial operations.  

The tips are both essential and high priced, and instituting them and increasing the monetary nicely-getting of the city will just take many years, not months, according to Blake. 

Wellfleet Town Hall, in a 2009 photo

Aside from employing a finance director, the report’s suggestions include implementing standard fiscal reporting, producing a monetary approach and lowering reliance on financial debt exclusions to pay back for funds financing. It encouraged the city make a techniques manual and reconcile the cash book to the basic ledger on a regime foundation.