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| Wake County Finance Department | |
|---|---|
| Name | Wake County Finance Department |
| Type | County agency |
| Formed | 20th century |
| Jurisdiction | Wake County, North Carolina |
| Headquarters | Raleigh, North Carolina |
| Employees | est. 100–300 |
| Budget | county budget portion |
| Chief1 name | Chief Finance Officer |
| Parent agency | Wake County, North Carolina |
Wake County Finance Department The Wake County Finance Department is the fiscal office for Wake County, North Carolina, responsible for budget preparation, accounting, revenue collection, procurement, and financial reporting. It interfaces with elected officials such as the Wake County Board of Commissioners, collaborates with municipal partners like City of Raleigh, Cary, North Carolina, and Apex, North Carolina, and supports county operations across public health, public safety, and transportation.
The department administers the county's fiscal policies and internal controls under oversight from the Wake County Board of Commissioners, the Wake County Manager, and statutory frameworks including the North Carolina General Statutes governing county finance. It coordinates with regional bodies such as the Triangle J Council of Governments, the Research Triangle Park, and state entities including the North Carolina Office of State Budget and Management and the North Carolina Department of Revenue. The Wake County Finance Department also aligns financial work with external stakeholders like the Wake County Public School System, Wake Technical Community College, and the North Carolina Association of County Commissioners.
Leadership includes a Chief Finance Officer reporting to the Wake County Manager and interacting with the Wake County Board of Commissioners and the Wake County Clerk. Divisions typically include Budget and Management, Accounting, Revenue and Tax Administration, Procurement and Contracts, Treasury, and Internal Audit. The department uses enterprise systems from vendors such as Oracle Corporation, Tyler Technologies, and SAS Institute for financial management and analytics. It liaises with legal counsel from the Wake County Attorney and external auditors from firms like the PricewaterhouseCoopers family of networks and regional auditors registered with the North Carolina State Auditor.
The Budget and Management division prepares the annual county budget and five-year forecasts presented to the Wake County Board of Commissioners, integrating inputs from departments including Wake County Human Services, Wake County Public Safety, and Wake County Parks, Recreation and Open Space. It applies fund accounting principles used by the Governmental Accounting Standards Board and follows guidance from the North Carolina Local Government Commission. Budget cycles coordinate with municipal planning processes such as Raleigh Comprehensive Plan and regional transit plans like those by the Capital Area Metropolitan Planning Organization. Long-range financial planning incorporates capital improvements for facilities such as WakeMed Raleigh partnerships and infrastructure investments tied to Interstate 40 (North Carolina) corridors.
The Revenue and Tax Administration division administers property tax billing and collection, working with the Wake County Tax Assessor, mapping services like Wake County Geographic Information Services, and tax relief programs aligned with state statutes. It monitors revenue streams including property taxes, sales tax distributions from the North Carolina Department of Revenue, intergovernmental transfers from the State of North Carolina, federal grants from agencies such as the U.S. Department of Housing and Urban Development and the U.S. Department of Health and Human Services, and service fees tied to courts like the Wake County Clerk of Superior Court. The office also reviews tax policy impacts in coordination with fiscal committees of the North Carolina General Assembly and regional economic inputs from Duke University and North Carolina State University research.
Procurement and Contracts manages competitive solicitation, vendor management, contract administration, and compliance with procurement statutes under the North Carolina General Statutes. The division issues Requests for Proposals and Invitations to Bid, procuring goods and services from vendors including construction firms working on projects near Raleigh-Durham International Airport, information technology providers, and professional services used by Wake County Solid Waste Management. It enforces purchasing thresholds and minority- and women-owned business outreach consistent with programs promoted by the Wake County Office for Equity and Inclusion and regional procurement consortia such as the North Carolina Purchasing Association.
Accounting and Treasury produce monthly and annual financial statements using standards from the Governmental Accounting Standards Board and coordinate the county's Comprehensive Annual Financial Report submitted to the North Carolina Local Government Commission and the Office of the State Auditor (North Carolina). Internal Audit conducts compliance, operational, and performance audits and coordinates external audits by certified public accounting firms registered with the North Carolina State Board of Certified Public Accountant Examiners. Financial reporting supports bond ratings interactions with credit rating agencies such as Moody's Investors Service, Standard & Poor's, and Fitch Ratings for county debt issued under ordinances approved by the Wake County Board of Commissioners.
The department administers programs including cash management, debt management, grant administration, and financial training for county departments. It manages debt issuances for capital projects in partnership with underwriters and counsel like those engaged in municipal finance transactions overseen by the North Carolina Local Government Commission and coordinated with county capital partners including Wake County Public School System facilities and county courthouse projects. Services include vendor payment processing, payroll coordination with Wake County Human Resources, tax relief and exemption programs interfacing with the Wake County Tax Administration Board, and financial transparency tools accessible to constituents and stakeholders such as the Wake County open data portal.