The Department of Finance
The Department Oversees the city’s assets and protects its resources for Newark citizens. In this way, the department supports the City of Newark’s overall mission to provide security and opportunities for economic prosperity to all of its citizens and to create an environment that is nurturing and empowering for families.
Led by the city director of finance/chief financial officer, the Department of Finance provides fiscal policy recommendations to the mayor and Municipal Council and is responsible for all financial activities and functions of city government. This includes paying all employees; paying all vendors; collecting all revenue; investing all idle funds; billing all taxes; recording all receipts, expenditures, and other financial transactions; preparing all financial reports; and raising all capital funds on behalf of the City of Newark. The department is also responsible for the city’s assets and resources, including investments, revenues, budgetary appropriations and expenditures, and fixed assets.
Divisions of the Department of Finance
each division has specific responsibilities regarding the financial operations of the city
- Director’s Office is to maintain prudent custody of assets of the City and protect its resources for its citizens. The composition of those assets include cash, revenue, investments, budgetary appropriations,
trust funds, capital authorizations and fixed assets.
- Accounts and Control protects the assets of the City of Newark by maintaining accurate accounting records and recording all financial transactions for all of the City’s funds including current, water, sewer
general capital, water capital, sewer capital, insurance and other trust funds.
- Treasury assist the Chief Financial Officer in maintaining prudent custodianship of municipal funds through careful cash management (including projection of cash position, recommendation of investment of
idle cash, and reconciliation of City’s cash records to the City’s bank accounts) and timely issuance and distribution of all City checks and payments.
- Revenue Collections insures that all taxpayers of the City of Newark are billed properly and accurately for their property taxes and collects and reports this and all revenue of the City in a timely and accurate fashion; and initiates and carries out various enforcement procedures related to the non-payment of taxes and other municipal charges.
- Employee’s Retirement Systems insures that eligible employees are enrolled and contributing accurately to the pension system and that eligible retirees are receiving payments in an accurate and timely manner.
- Office of Tax Abatement and Special Taxes insures that the service charges on tax abatement and taxes on payroll, parking , hotel room occupancy and business license and permits are accurately accounted for. It is the responsibility of the Manager to collect, enforce and report on the revenue of the various businesses in the City of Newark and assess charges for non-compliance in accordance to the State and Municipal Statues and Ordinances.
- Assessments locates and determines the tax-ability of real estate and personal property value within the City to maintain the tax base; maintains detailed tax maps for each parcel of real estate in the City; prepares property mergers and sub-divisions; and inputs changes to property records including ownership, mortgage codes, assessments, etc. Click Here to download the PDF version of the current tax maps.