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Local Government

New Jersey municipalities are facing an increasingly challenging economic climate. Residents are demanding stable tax rates and reduced costs. The State of New Jersey is requiring increased disclosure while also constantly altering the financial guidelines and tightening the constraints municipalities operate under.

 

Skilled financial professionals are more vital than ever.

 

We offer comprehensive accounting services and intelligent consulting that will help your municipality progress into this new climate while remaining financially healthy and attractive to its residents.  In addition, obtaining these services via a professional service contract allows the Municipality to avoid the hefty employee fringe benefits that account for close to 25% of municipal operating budgets.

 

We have extensive experience in the field of New Jersey municipal accounting and have adept knowledge of the accounting guidelines and various compliance regulations that the State prescribes. 

 

The firm can assist local governments:

 

 

  • By fulfilling the statutory duties of chief financial officer.

 

  • By supplementing existing finance teams with operational support:

    • Accounts payable

    • Payroll

    • General ledger

    • Privatization of services

    • Inter-local service studies and services

    • Temporary work and recruitment

  • By supplementing existing finance teams with consultative support:

    • Staffing studies and recruitment

    • Regulatory compliance

    • Intermediate and long term budgetary and taxation  policies

    • Workflow analysis and re-design

    • Computerization and modernization

    • Inter-local service studies and services

Laracy Associates can also address areas outside of the normal purview of finance by bringing other professional into problem solving via an interdisciplinary approach:

  • Labor negotiations

 

  • Risk management alternatives

    • Joint Insurance Fund studies

    • Alternatives to the State Health Benefits Program and the commercial market

  • Affordable Care Act compliance:

    • Recordkeeping and reporting

    • Cadillac Tax projections and management strategies

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