OFFICE OF FINANCE - MUNICIPAL FINANCE SERVICES
The Municipal Finance Services unit of the Office of Finance develops policy and provides guidance to municipalities and other local governments in the area of municipal finance. Primary functions include the following:
- Ensures compliance with state financial reporting requirements including the administration of the Municipal Auditing Act and the State Single Audit Act for municipalities, other local governments, and non-profit entities.
- Monitors the financial condition of municipalities and work with municipal entities facing fiscal challenges, including the reviewing of municipal budgets and providing staff support to the Municipal Finance Advisory Commission (MFAC).
- Provides policies and procedures to assist municipalities in completing and filing their Annual Reports in accordance with the Uniform System of Accounting (the Municipal Uniform Chart of Accounts). Click on the link below for more information.
- Provides guidance to municipalities and other local governments on financial related matters including financial management and reporting.
- Collects, analyzes, benchmarks, and publishes municipal financial data, including:
- Provide an Electronic Audit Reporting System (EARS) to allow independent auditors to file audit reports on behalf of their clients on the OPM website. The reports are available to state agencies and the public to view and download.
- Act as a liaison to the Connecticut Tax Collectors Association and the Connecticut Government Finance Officers Association.
- The Government Finance Officers Association is a nationally recognized body that promotes the professional management of governments for the public benefit by identifying and developing financial policies and practices and promoting them through education, training and leadership.