Town Treasurer
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The treasurer receives all money belonging to the town, and expends and accounts for it according to the order of the town of of its authorized officers. No other person has authority to pay any bill of any municipal department.
In addition, the treasurer is custodian of all other funds of the town. He or she is custodian of the stabilization funds, pension funds, trust funds, and tax titles. He/she may be appointed to serve as custodian of tax possessions under certain circumstances.
It is the treasurer's responsibility to make provision for adequate funds to cover current obligations. He/she must manage the funds of the municipality so that all obligations such as payroll, bills, payment on bonds and notes, and other remittances can be paid in a timely manner.
In order to fulfill the responsibilities that the position entails, the treasurer must know the municipality's cash position daily. This is accomplished by depositing all cash received on a daily basis when practical. It also requires prompt reconciliation of all bank accounts.
It is important, also, that the treasurer be familiar with the provisions of the various sections of Chapter 60 of the General Laws regarding tax titles and tax foreclosures. The town could forfeit its rights if an error is made in the proceedings.
The treasurer is usually the negotiating officer for all municipal borrowing. He/she arranges the terms of the town's borrowing. All such borrowing requires the approval of the Board of Selectmen.
The treasurer must give a bond annually for the faithful performance of his/her duties. The duties and responsibilities of the treasurer are spread throughout the General Laws of Massachusetts.
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