The City of Marlborough processes more than $300 million in cash transactions annually, including 70,000 payroll and 30,000 vendor transactions. The city utilizes both long-term and short-term borrowing to fund its capital improvement activities. Activities include the following:
Depositing all funds received promptly to city accounts
Reporting all cash transactions to the Auditor
Reconciling the Treasurer's cash balances with the bank statements and general ledger on a monthly basis
Investing cash and trust fund assets into legally allowed investments, securing the best possible safe yield
Managing short and long-term borrowing
Disbursing municipal funds to meet obligations
Filing with state and federal agencies all payroll-related tax returns
Providing employees and vendors with tax information in a timely and accurate manner