The City Treasurer is an elected position that has a term of four years. The City Treasurer provides a direct voice of the people regarding the management of all cash and all invested public funds. In general, the Treasurer's office provides banking and investment services with minimum service cost and maximum yield on investments.
The office of the Treasurer is responsible for receipt, accurate accounting, disbursement of all funds both public and trust accounts, and prudent investment of all City funds in order to maximize yields while maintaining adequate liquidity. The Treasurer’s office receives all monies which come into the city, pays all bills, including payroll; is responsible for the administration of employee health and life insurance programs; works with the Assessor's, Tax Collector, and City Auditor’s departments to ensure the smooth and efficient operation of the City’s finances.
In addition, the Treasurer is responsible for investing the City’s funds in accordance with guidelines imposed by Ch. 44, Sec. 55, of Massachusetts General Laws. The Treasurer executes all short and long-term borrowing, which the Mayor has authorized, with approval of the City Council.
The Treasurer manages the City’s property, which is in Tax Title or Foreclosure. The Treasurer's Office places all outstanding taxes on agreements to be paid in a timely manner. If payments are not made or no agreement can be reached, a foreclosure process is done. Delinquent property is turned over to the Treasurer annually, when the Tax Collector does a tax taking; i.e., puts a lien on the property.
For a more detailed understanding of the Duties and Responsibilities of the Treasurer please read this Excerpt of MCTA Treasurer (Chapter 2 Duties & Responsibilities of the City Treasurer)