Office of the Treasury

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Office of the Treasury2019-01-19T05:06:54+00:00

Village Treasurer’s Office and Finance Department

The Village Treasurer is head of the department and is an appointed public official, authorized under Village Law to invest and manage all public funds. As Chief Fiscal Officer of the Village of the Village of Spring Valley, the Village Treasurer must maintain all financial records, audit all transactions, and report the results of fiscal performance to various regulatory agencies, including the Village Board of Trustees.

Under the direction of the Village Treasurer, the Finance Department is responsible for accounts receivable and accounts payable, human resource administration, payroll processing, tax collection, water billing, and all other financial transactions.

As the Village’s Chief Fiscal Officer, the Village Treasurer is responsible for the collection, disbursement, investment, and accounting of all Village funds. Included in the Treasurer’s responsibilities is the preparation of the annual budget, the collection and enforcement of all Village taxes and assessments, water/sewer billing and collection, accounts receivable and payable, capital and debt financings, payroll, accounting, cash management and electronic data processing.

The Village’s Fiscal Year runs from June 1st through May 31st and must be passed by the board of trustees annually. In preparation of the budget, department heads submit to the mayor who is also the budget officer, an estimate of revenues and expenditures of their departments for the coming fiscal year. This estimate should show the sources of all revenue, itemize the character and object of expenditures, and include additional information the budget officer may prescribe.

The mayor will then prepare a “tentative budget” and provide each member of the board of trustees with a copy. Among other details, the tentative budget includes revenues for the last completed fiscal year; estimated revenues, as modified for the current fiscal year; the mayor’s estimate of revenue for the ensuing fiscal year; a schedule of cash surpluses estimated to be on hand at the close of the fiscal year; a schedule of wages and salaries to be paid, subdivided by administrative units; and information on the village’s capital program.

A public hearing is held on the tentative budget on or before April 15th. After the hearing, the board of trustees may further change the budget and adopt it not later than May 1st.

A copy of the current fiscal year’s budget is available by contacting the Village Clerk