City Treasurer Rory Casey explains why Holyoke has a recurring penalty by the IRS in which the city pays penalty fees.

There have been occasions when the city has had to pay to the IRS late fees in the amount of thousands of dollars.

As the Treasurer Casey explains, there are known reasons for this. Watch the video to hear the details.

The job of 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.”

More information about the city treasurer here: https://www.holyoke.org/departments/treasurer/