The accounting records of the City shall consist of not less than the following:
1. Books of Original Entry. There shall be established and maintained books of original entry to provide a chronological record of cash received and disbursed.
2. General Ledger. There shall be established and maintained a general ledger controlling all cash transactions, budgetary accounts and for recording unappropriated surpluses.
3. Checks. Checks shall be prenumbered and signed by the Clerk following Council approval, except as provided by subsection 5 hereof.
4. Budget Accounts. There shall be established such individual accounts to record receipts by source and expenditures by program, sub- program and activity as will provide adequate information and control for budgeting purposes as planned and approved by the Council. Each individual account shall be maintained within its proper fund and so kept that receipts can be immediately and directly compared with revenue estimates and expenditures can be related to the authorizing appropriation. No expenditure shall be posted except to the appropriation for the function and purpose for which the expense was incurred.
5. Immediate Payment Authorized. The Clerk is authorized to make timely payments of certain bills of accounts for services or merchandise furnished to the City upon presentation of the bills of account and after having ascertained that said bills of account are correct and proper obligations of the City, and without obtaining prior Council approval therefor, and shall include the following classification of accounts:
A. Utilities, including gas, telephone and electricity;
B. Payroll;
C. Payroll taxes, including monthly withholding deposits and payments due on quarterly report of IPERS, FICA and Sales Tax;
D. Payroll deductions, including child support, credit union, union dues, dental insurance;
E. Contract payments previously approved by Council;
F. Legal publication expenses;
G. Postage;
H. Credit card accounts for vehicle gas;
I. Bills submitted on a specific project previously approved by the Council;
J. Membership dues previously approved by the Council;
K. Registration fees, educational fees;
L. Interest coupons, and matured bonds.
“Previously approved” is defined as bills that do not appear on the payable list but have had separate Council action at the Council meeting. At the next regular meeting of the Council following the payment of said bills of account, the Clerk shall submit to the Council a list of all bills paid for ratification and approval of such action.
6. Utilities. The Clerk shall perform and be responsible for accounting functions of the municipally owned utilities.