Bay Harbor Islands Finance Department Commended for 22 Years of Fiscal Health and Transparency

Bay Harbor Islands' Finance Department continues to manage the town's public funds, ensuring fiscal transparency and accountability for residents. The department handles core financial operations, including general ledger accounting, utility billing and collections, payroll, accounts payable and receivable, and employee retirement plan administration.

A key responsibility of the Finance Department involves preparing and controlling the Town's annual budget. State law mandates that all local governments publish complete financial statements in conformity with generally accepted accounting principles (GAAP) and undergo audits by licensed CPA firms. To meet this requirement, the department issues the Town's Comprehensive Annual Financial Report (CAFR).

The Town has received the Certificate of Achievement for Excellence in Financial Reporting from the Governmental Finance Officers Association (GFOA) for the past 22 consecutive years. This recognition highlights the department's commitment to high standards in financial reporting.

Residents can access various financial documents to review the Town's fiscal operations. Budget documents are available spanning from Fiscal Year 2017 through the current Fiscal Year 2026, which ends on September 30, 2026. Digital budget books for Fiscal Year 2023-24 and Fiscal Year 2024-25 are also accessible. Additionally, Annual Comprehensive Financial Reports (ACFR) are available for fiscal years ending September 30, 2022, 2023, 2024, and 2025.

The Finance Department provides other departments with financial analysis, supporting informed decision-making across town operations. This ongoing work ensures the financial stability and responsible management of taxpayer dollars in Bay Harbor Islands.