ALBEMARLE — The City of Albemarle Finance Department has been recognized for the quality of its reporting for the seventh consecutive year.
At the Albemarle City Council’s meeting on Oct. 7, the department was awarded with the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting.
The honor was given for Albemarle’s annual comprehensive report for the fiscal year that ended on June 30, 2023.
“We’ve first received this award for fiscal year 2018 and we are very proud to receive it again for the city,” said Jacob Weavil, Albemarle’s finance director. “This is a group effort as always and it takes all departments but also the council. Thank you for your continued support — we’re very happy to be here tonight.”
Weavil served as the city’s assistant finance director beginning in 2018 and was hired on as Albemarle’s full-time director in 2021, filling a vacancy created by the retirement of former Finance Director Colleen Conroy.
Founded in 1906, GFOA promotes excellence in government finance by providing practices, professional development, resources, and practical research for over 21,000 members and their respective communities.
The Certificate of Achievement for Excellence is the association’s highest form of recognition in the area of governmental accounting and financial reporting, representing a significant accomplishment by a government and its management.
The award acknowledges the collective work of the Albemarle City Council, city management, and the city’s finance department in instilling full accountability of Albemarle’s financial health.
“The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive ‘spirit of full disclosure’ to clearly communicate its financial story and motivate potential users and user groups to read the report,” GFOA wrote in a press release.
With five responsibilities shared between two divisions, Albemarle’s finance department is tasked with administration, accounting, financial reporting, treasury management, and revenue collection.
Led by Weavil, the department’s first division is responsible for maintaining the accounting and reporting system, paying financial obligations, purchasing equipment, conducting the bidding process for all contracts, providing fiscal management for all city funds, preparing payroll, and working with auditors in preparation of statements.
The department’s secondary division — led by Richard Lanzillotti, Albemarle’s revenue and collections supervisor — provides administrative and clerical services for the collections of all funds related to the city.
This category includes utility bills and related costs, water, sewer, street assessments, parking tickets, grant revenue, licenses, permits, tax revenue, parks and recreation admissions, and landfill dumping fees.
Together with the accounting division, both departments aim to help reconcile subsidiary ledgers with general ledger and they maintain customer accounts.
Albemarle residents are encouraged to review the city’s current and past financial reports at albemarlenc.gov/departments/finance.
The Albemarle City Council is set to meet again on Oct. 21 at 6:30 p.m. in the City Hall Council Chambers.