(a) All public monies coming under the custody and control of the City Treasurer shall be deposited or invested by the City Treasurer as provided in this chapter. The City Treasurer may retain, however, in the Treasury or in such other offices of the City as may be necessary, such amounts of public money as may be needed in the opinion of the Director of Finance to transact the daily business of the Treasury or such offices.
(b) The City Treasurer shall deposit in active deposits such amounts of public monies as are needed in the opinion of the Director of Finance to provide the needed cash flow to pay City warrants and checks issued and outstanding, and a reasonable surplus in addition to the amount needed to pay such warrants and checks. All public monies of the City not deposited in active deposits or retained pursuant to division (a) of this section shall be invested in accordance with Section 178.12 of this chapter.
(c) Each division of the City receiving public monies shall deposit all public monies coming into its custody or control with an eligible depository on the business day next following the day of receipt if the total amount of such monies received exceeds one thousand dollars ($1,000.00). If the total amount of the monies received does not exceed one thousand dollars ($1,000.00), the monies shall be deposited on or before the third business day following the day of receipt. Any division of the City depositing public monies shall report such deposit in writing to the City Treasurer within twenty-four (24) hours of making the deposit.
(d) Before noon of each business day, the City Treasurer shall prepare a sworn statement delineating the total amount deposited in each eligible depository of the City during the preceding day, the number and amount of payment instruments issued on each eligible depository during the preceding business day and such other information as required by the Director of Finance. Copies of the statement shall be furnished to the Commissioner of Accounts and the City Controller. All money paid to the Treasurer shall be paid upon the order or draft of the Commissioner of Accounts and receipts therefor shall be given in duplicate, one (1) of which shall have printed on its face the word “original” and the other, the word “duplicate.” The duplicates of receipts for money shall be filed with the Commissioner of Accounts and each receipt shall state the amount received, from whom received and to what fund the same is to be applied.
(e) The City Controller shall maintain the records of the amount of deposits made by the City Treasurer with each eligible depository and instruments issued by the City Treasurer on each eligible depository. The City Controller shall duly certify to the correctness of the City Treasurer’s daily sworn statements, prepared in accordance with division (c) of this section, if they are found to be correct upon comparison with their respective books. Such sworn statements shall be kept on file in the office of the City Controller. If any such sworn statement is found to be incorrect, the City Controller shall forthwith give notice of such fact to the City Treasurer and the Director of Finance. After the end of each month, the City Controller shall reconcile the statements of the respective eligible depositories to the City Treasurer’s daily statements and the City’s accounting records. If the accounting records are found to be incorrect, the City Controller shall forthwith give notice of such fact to the Commissioner of Accounts and the City Treasurer.
(f) The Commissioner of Accounts shall maintain books which will show the cash balance of each fund, and shall issue no warrant payable from any such fund unless there is money belonging thereto for the payment of the warrant in full.
(Ord. No. 1660-04. Passed 10-11-04, eff. 10-13-04)