What We Do
The Office of the Director of Financial Services (CFO) is responsible for oversight of fiscal compliance with Massachusetts General Laws, Municipal Ordinances, and federal statutes as well as adherence to Generally Accepted Accounting Principles (GAAP) and sound internal control procedures as prescribed by Generally Accepted Governmental Auditing Standards (GAGAS).
The Chief Financial Officer (CFO) provides direct supervision to the following divisions: Auditor, Treasurer, Collector and Assessor. These departments have their own pages on the City’s website. The department also provides accounting, auditing and financial reporting services to City Departments, Boards, and Commissions.
The primary responsibility of the Office of the Director of Financial Services is to prepare the annual operating and capital budgets for submission by the Mayor to the City Council as required by Chapter 44 of the Massachusetts General Laws. To produce a fiscally sound budget for the upcoming fiscal year, it is necessary to consistently monitor and analyze the activities of the current fiscal year as well as those of prior fiscal years to detect trends in both revenue and expenditure categories which may have an impact on future budgets.
The Office of the Director of Financial Services is also involved in the preparation of official statements and other related documents for bond sales, calculation of the tax rate, free cash certification, grant reconciliations, CPA analyses and other financial analysis.
Mary L. Sahady, CPA, Esq.,
Director of Financial Services
One Government Center – Room 215
Fall River, MA 02722