A.
There shall be a Department of Finance headed by a Director of Finance. The Department shall oversee all Town financial operations to include: purchasing oversight, accounting, accounts payable and payroll. The Director of Finance shall be appointed and may be removed by the Town Manager, in accordance with and subject to the provisions of Article IX of this Charter. It shall be the duty of the Director of Finance to maintain and operate a modern municipal accounting system showing the current condition of all funds and appropriations, and to file a report with the Town Manager and Council by the third Monday of each month of the financial transactions of the preceding month which show: the amount of each appropriation; the charges against and credits year to date; and the unencumbered balance. A report should also be prepared and filed with the Town Manager and Council within 90 days of the conclusion of each fiscal year covering all financial transactions. The Director of Finance prescribes the form of accounts to be kept by each department, office, board, commission and agency of the Town except the Board of Education, and the times and manner in which monies collected on the Town's account by any such department, officer, board and commission or agency shall be paid into the Town Treasury. The Director of Finance performs such other duties as may be prescribed by the Council by ordinance or by the order of the Town Manager consistent therewith.
B.
The Director of Finance is the Chief Financial Officer of the Town and therefore has an extreme fiduciary obligation to safeguard Town assets as is a common expectation for such role.