Financial Management & Fiscal Operations
The Finance Department is responsible for maintaining and administering the town's fiscal operations in accordance with generally accepted accounting principles and North Carolina's General Statutes.
Fiscal operations include accounting and financial reporting, cash management, investments, accounts payable, payroll, fixed assets, internal control, and debt service management. This includes maintaining the general ledger and all subsidiary ledgers, preparation of required reconciliations, insuring compliance with the annual budget ordinance, and reporting to State and Federal agencies.
Due to the prudent financial decisions by the Wake Forest Board of Commissioners and town staff, Wake Forest has achieved a AAA credit rating - the best possible rating for a local government.
The Annual Comprehensive Financial Report is the official statement of the town's financial position on June 30, at the close of the fiscal year.
For over 30 consecutive years, the town's Annual Comprehensive Financial Report has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA).
Accounts Payable is responsible for processing all payments to vendors for goods and services provided to the town. Please contact Heather Mitchell at 919-435-9464 for all accounts payable questions or issues.
The Town of Wake Forest prefers to receive invoices electronically. Invoices can be mailed directly to [email protected].
In addition to paper check and credit payment, the town offers a payment option called ePayables which allows vendors to receive payment in a more timely manner. If you are interested in learning about ePayables, contact Cyndee Sales at 919-435-9484.
Frequently Asked Questions
The Town pays via paper check, credit card or through the ePayables program.
Every other Friday.
No. The town prefers to mail all checks.
Invoices are paid according to the terms stated on the vendor invoice. In the event terms are not stated on the invoice, the town will use the standard terms of net 30 days.
Per policy, invoices must be received by Accounts Payable by noon on the Friday preceding the Friday of the check run.
Please visit https://www.irs.gov/uac/About-Form-W9