Welcome to the Town Accountant
Temporary Assistant Town Accountant
The Town of Nahant is seeking qualified applicants for the temporary position of Assistant Town Accountant. Applicants should be available for 20 to 40 hours per week and the position may be held for 1 to 3 months. Responsibilities include providing accounting, administrative and technical support to the Town Accountant. Essential functions include preparation of accounts payable and payroll warrants in compliance with MGL, auditing weekly payroll and verifying disbursements and availability of funds, reconciling cash receipts, and tracking project accounts and grants. Assists the Town Accountant with preparation of reports for state and federal agencies, assist with budget analysis, budget preparation, and the year-end audit. Performs similar or related work as required or as situations dictate.
The Town of Nahant Accounting Department is responsible for the maintenance of all financial records to insure compliance with federal, state and local laws and regulations and for oversight of all departmental appropriations. This includes recording all Town expenditures and assuring that departments operate within their annual appropriations.
Welcome to our document archive. Select the fiscal year on the left to view all the supporting documents in Acrobat (PDF) format.
Town of Nahant Audit and Review Document Archive
Audit packets include the Management Letter, Financial Statements and the Report on Internal Controls and Compliance.
Town Accountant’s Report – Fiscal Year 2019
Fiscal Year 2019 was a difficult year financially for the Town of Nahant. The Certified Free Cash is $621,922. (Free Cash is the fund balance less mandated state adjustments-See next page.) This was $119,796 less than last year. As we push our revenue estimates, this will continue to decline. We must continue to be careful in order to grow and avoid a free cash deficit. The Town's revenue budget is only an estimate. This revenue budget is what supports the appropriation budget. It is prudent to use free cash available for any revenue deficits, other unforeseen events that can occur and capital improvements. The future years will require reduced appropriations and/or another override. The certified Water/Sewer Enterprise Fund balance is $157,959 and the Rubbish Enterprise Fund balance is $178,500 for Fiscal Year 2019. Water/Sewer Enterprise Fund is at the low due to sewer emergency and a reduction in usage.
Thanks again to all who have worked to maintain a positive fund balance again in FY 19. Special thanks to all of the department heads who work diligently to stay within their budgets and all of the wonderful people who donate so much of their time to make Nahant a better
The town's outstanding debt as of 6/30/19 is $12,635,184 - $2,852,650 is in long-term debt and $9,782,534 is in temporary short-term debt. The Authorized and Unissued Debt totals $935,900 as detailed in the attached Statement of Indebtedness. During Fiscal Year 2019 the
Our infrastructure has been deteriorating rapidly, as shown with Storm Riley and the sewer emergency. We have borrowed for capital and therefore are paying interest over the term of the borrowings for our capital. We use our free cash for our operating budget. We must have funds in savings and buy capital without borrowing. We must balance our budget without free cash. Most of the Town's revenue comes from real estate taxes. We receive a small percentage of state aid compared to most communities. We have little new growth with no place to grow.
On the following pages are reports that cover the twelve-month period from July 1, 2018 through June 30, 2019. (FY 19) Please take time to review these reports. Additional information or clarification desired by a Nahant resident will be gladly furnished upon a written request.
The combined statement of revenues, expenditures and changes in fund balances, the combined balance sheet, the business-type changes in net position and statement of net position for fiscal year ending 6/30/19 are prepared by the Town of Nahant's auditors, CliftonLarsonAllen, LLP. AU other reports are prepared in-house.
Also, the FY 2020 appropriated budget and expenditures are included at the end of this report. The actual expenditures are through 6/30/20.
Town Accountant’s Financial Report Archive - PDF Format
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