Finance and Administration

The Finance Department is responsible for all financial transactions of the Borough of Magnolia. The responsibilities include but are not limited to the following

  • Custody and Investment of all Borough funds.
  • Provide assistance to the Mayor and Council in the preparation of the Annual Budget.
  • Maintenance of all financial records for the Borough including a complete General Ledger for all funds as well as Monthly and Annual Reporting of all revenues and appropriations.
  • Handling of all aspects of Debt Service including payment schedules and correspondence with attorneys concerning temporary and permanent financing.
  • Provide assistance and oversight to departments in regard to Purchasing functions in accordance with State and Borough regulations.
  • Processing of Accounts Payables in accordance with State and Borough regulations.
  • Developing and maintaining an Internal Control System to safeguard Borough assets.
  • Preparation of the Annual Financial Statements and Annual Debt Statements in accordance with State regulations.
  • Preparation and coordination of Bank Reconciliations.
  • Compilation of Fixed Asset Reports for audit presentation.
  • Preparation of Financial Reporting for Grants including handling of all reimbursement requirements.
  • Audit and reconciliation of Payroll for Borough employees including the preparation of all Federal and state tax fillings.

 

2020 User Friendly Budget / 2020 Adopted Budget / 2020 Audit Report

2021 User Friendly Budget2021 Adopted Budget / 2021 Audit Report

2022 User Friendly Budget / 2022 Adopted Budget / 2022 Audit Report

2023 User Friendly Budget / 2023 Adopted Budget 

2024 User Friendly Budget

Borough of Magnolia
438 West Evesham Ave Magnolia, NJ 08049-1725 (856) 783-1520 (856) 782-0782 fax
Monday - Friday 8:30am - 4:00pm Saturday & Sunday - Closed