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Finance

Town of North Branford
909 Foxon Road
North Branford CT 06471

Phone: 203-484-6002
Fax: 203-484-6025

Anthony P. Esposito Jr., CPFO - Treasurer/Finance Director, Email
Staff Accountant - Barbara J. Felie, CPFO - Email
Account Clerk I - Patricia Schaefer - Email
Account Clerk I - Terri Nuzzo - Email

The Finance Department is responsible for the development of the Town’s Annual Budget and Capital Improvements Plan documents; the reporting, monitoring and accounting of all financial transactions involving the Town; the investment of general government, pension and trust funds; the preparation of information for the issuance of long-term debt and the preparation of financial statements and related schedules for the annual audit of the Town’s financial records. A staff of four carries out these activities: two Account Clerks; a Staff Accountant, who oversees the daily operations and reports to the Treasurer/Finance Director, and the Treasurer/Finance Director. The Tax Collector and the Assessor also report directly to the Treasurer/Finance Director.

In addition, the Treasurer/Finance Director is involved in benefits administration, contract negotiations, special projects as assigned by the Town Manager and, by ordinance, is a member of the Pension Committee. As part of our drive to increase the use of technology to make the department more efficient, we have included the most recent audited financial statements and official statement [used for bond issuance] in PDF formats on our site. 

The Treasurer/Finance Director and the Staff Accountant maintain their Certified Public Finance Officer designation from the Government Finance Officers Association. Both remain active in the Connecticut GFOA chapter and regularly attend New England GFOA training seminars as well to keep abreast of the latest trends in municipal finance.

The finance department successfully implemented Governmental Accounting Standards Board (GASB) 43 & 45 during the fiscal year ended June 30, 2009.   This incorporates the inclusion of the cost/liability Other Post Employment Benefits (OPEB) in the current financial period. Some classes of Town employees are entitled to post-employment benefits, primarily medical insurance. In the current methodology, these costs are accounted for on a pay-as-you-go basis. In the future, these costs will be treated similar to pension costs, whereby the future liability will be calculated and appear on the financial statements as a long-term liability. In addition, there will be expenses in the current period to reflect the benefits that are being "earned" by the current employees during that period. This accounting change could have significant implications of the future financial statements of the Town.

Financial Reports:

These reports are provided to give the viewers an on-line version of the financial statements as of June 30, 2010. Anyone requiring additional information is asked to contact the Treasurer/Finance Director.

June 30, 2010 Audited Financial Statements/Reports

July 1, 2010 Actuarial Valuation of the Town Employees and Police Plan

July 1, 2010 Actuarial Valuation of the Volunteer Fire/Ambulance Plan

Official Statement for the November 2010 Bond and Note Sale

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