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, reporting to State and Federal agencies, updating the Capital Improvements Plan and preparation of the annual operating budget.
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 Comprehensive Annual Financial Report (CAFR) is the official statement of the town's financial position on June 30, at the close of the fiscal year.
For over 29 consecutive years, the town's Comprehensive Annual Financial Report (CAFR) 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. Accounts Payable staff is divided by the alphabetical listing of the vendor's name. Below is a breakdown of the alphabet and the corresponding town staff member to contact.
|Vendor Name||Town Staff Member||Phone|
|A through L||Claudia Bradley||919-435-9464|
|M through Z||Wynne Gooding||919-435-9465|
The Town of Wake Forest prefers to receive invoices electronically. Invoices can be mailed directly to email@example.com.
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 Accounting Services Manager Alice DeGaetano at 919-435-9463.
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