Nantucket finance director outlines department roles, tax process and AAA rating

Brian Turban, director of municipal finance for the Town of Nantucket, outlined the finance department’s organization and core responsibilities in a Government 101 video presentation.

Turban said the department is organized into four principal divisions — accounting and budget, the assessor’s office, treasury and payroll, and the town collector’s office — and includes supporting leadership roles such as deputy directors and a deputy procurement officer. He said staff work across those units to manage billing, collections, purchasing, contract administration, payroll, budgeting and property valuation.

Turban described routine treasury and payroll duties: processing payroll for town employees, answering staff questions, depositing tax payments and state and federal grant funds into town accounts, coordinating vendor payments, and reconciling payroll reports used for state and federal reporting.

On property valuation, the assessor’s office reviews market data each Jan. 1 and adjusts values to keep assessments consistent; homeowners who make improvements are responsible for reporting updates for reassessment. The town collector’s office issues quarterly bills for real and personal property taxes, motor vehicle excise taxes and landfill charges and works with deputy collectors to resolve delinquencies.

Turban explained the annual tax rate process begins after the annual town meeting in the spring and concludes in the fall with a tax classification hearing before the Select Board; the process includes calculating the residential exemption that lowers tax bills for qualifying homeowners.

He also described the annual independent financial audit, saying auditors verify accuracy, transparency and compliance with national standards and that audit findings demonstrate how the town manages public funds.

“Thanks to this consistent fiscal stewardship, the Town of Nantucket currently holds a AAA bond rating from Moody’s, the highest possible rating,” Turban said. He added that the rating helps the town finance major projects such as schools, roads and water systems at lower interest rates.

Turban closed by noting the department’s role in long‑term capital planning and project oversight, including management of major investments from planning through completion to support safe and sustainable growth. The presentation was part of the town’s Government 101 video series.

The presentation was informational; no formal votes or policy actions were recorded in the transcript.