Finance Department

The Finance Department is the hub of financial affairs for the City of Sherwood, including accounts receivable, accounts payable, general ledger accounting, bank reconciliation, and investments. All payments individuals or businesses make to the City of Sherwood for licenses, fees, or taxes are handled by the Finance. Department. In addition to transacting business with the general public, the Finance Department maintains all financial records for the City, providing the Mayor and all Department Heads with monthly budget reports updating expenditures and revenue. The department pays all of the City's bills and invoices and maintains banking relationships as well as investing the City's financial reserves to maximize our return on investment. The department ensures that there are audit trails for all financial transactions. We assist the external auditors annually in reviewing the financials and financial procedures.

Sherwood Taxes

The following is Sherwood's Tax Breakdown:

• State 6.5%
• Pulaski County 1%
• Sherwood 2%
• Advertising and Promotion (hamburger tax) 2% 
  • This percent is mailed directly to Sherwood while the other tax above is sent directly to the State.