What is a foundational responsibility that a Chief Financial Officer must fulfill in local government?

The foundational responsibility of a Chief Financial Officer (CFO) in local government is to prepare financial statements. This role is critical as it ensures transparency and accountability in the government’s financial reporting. The CFO is responsible for accurately collecting, analyzing, and presenting financial data which informs decision-making for budgeting, planning, and evaluating the financial health of the community.

Financial statements provide stakeholders, including elected officials and the public, with vital information about revenues, expenditures, and the overall fiscal condition of the government entity. This function is central to maintaining trust and legal compliance, as well as guiding future financial policies and actions. By preparing these statements, the CFO fulfills a crucial role in managing the public's financial resources effectively.

While planning community events, overseeing public infrastructure projects, and managing public relations are important activities within local government, they do not fall under the primary duties of a CFO. These responsibilities are typically handled by other departments and personnel focused on community engagement, public works, and communications.