Finance

Finance Director Sam Karr

The Finance Department, headed by Sam Karr, oversees the financial record keeping of the town and ensures the maintenance of a central accounting system for the town's government in a manner consistent with established and accepted municipal accounting principles and practices. The finance department prepares and monitors the annual budget.

The Town of Lake Lure operates on a fiscal year beginning July 1st through June 30th.

The finance department is also responsible for administrating the town's financial operations including accounting and financial reporting and purchasing and inventory management.

The town's operations are carried on through its general fund and two enterprise funds: the water and sewer fund and the hydroelectric fund.

In 1998, the board of commissioners (town council) established a capital reserve fund for general fund projects. 

The finance director authorizes purchases and controls all disbursements of the town's funds. In addition, he serves as the town's risk manager and is responsible for protecting the town's assets against losses that could adversely impact its operation and continuity of services.