TITLE 3 - FINANCE AND TAXATION
CHAPTER 1
FISCAL MANAGEMENT
 
3-1-1 Purpose
3-1-5 Operating Budget Preparation
3-1-2 Finance Officer
3-1-6 Budget Amendments
3-1-3 Cash Control
3-1-7 Accounting
3-1-4 Fund Control
3-1-8 Financial Reports
 
3-1-1 PURPOSE.
   The purpose of this chapter is to establish policies and provide for rules and regulations governing the management of the financial affairs of the City.
3-1-2 FINANCE OFFICER.
   The Director of Administrative Services is the finance and Accounting Officer of the City and is responsible for the administration of the provisions of this chapter.
3-1-3 CASH CONTROL.
   1.   Deposit of Funds. All monies or fees collected for any purpose by any City officer shall be deposited through the Office of the finance officer. If any said fees are due to an officer, they shall be paid to the officer by check drawn by the finance officer and approved by the Council only upon such officer’s making adequate reports relating thereto as required by law, ordinance, or Council directive.
   2.   Deposits and Investments. All monies belonging to the City shall be promptly deposited in depositories selected by the Council in amounts not exceeding the authorized depository limitation established by the Council or invested in accordance with the City’s written investment policy and State law, including joint investments as authorized by Section 384.21 of the Code of Iowa.
(Code of Iowa, Sec. 384.21, 12B.10, 12C.1)
   3.   Petty Cash Fund. The finance officer shall be custodian of a petty cash fund not to exceed $150.00 for the payment of small claims for minor purchases, collect on delivery transportation charges and small fees customarily paid at the time of rendering a service, for which payments the finance officer shall obtain some form of receipt or bill acknowledged as paid by the vendor or agent. At such time as the petty cash fund is approaching depletion, the finance officer shall draw a check for replenishment in the amount of the accumulated expenditures and said check and supporting detail shall be submitted to the Council as a claim in the usual manner for claims and charged to the proper funds and accounts. It shall not be used for salary payments or other personal services or personal expenses.
   4.   Change Funds:
      A.   Finance Officer. The finance officer is authorized to draw a check on the Utilities Fund for establishing a change fund in the amount of $200.00 for the purpose of making change without commingling other funds to meet the requirements of the Utility Billing Department. The finance officer is further authorized to draw a check on the General Fund for establishing a change fund in the amount of $200.00 for the purpose of making change without commingling funds to meet the requirements of the Administrative Services Department. Said change funds shall be in the custody of the finance officer, who shall maintain the integrity of the fund.
      B.   Parks and Recreation Division. The finance officer is authorized to draw a check on the General Fund for establishing a change fund in the amount of $250.00 for the purpose of making change without commingling other funds to meet the requirements of the Parks and Recreation Division. Said change fund shall be in the custody of the Leisure Services Director and the Director shall maintain the integrity of the fund.
      C.   Library. The finance officer is authorized to draw a check on the General Fund for establishing a change fund in the amount of $500.00 for the purpose of making change without commingling other funds to meet the requirements of the Clive Public Library. Said change fund shall be in the custody of the Director of Library Services and the Director shall maintain the integrity of the fund.
      D.   Police Department. The finance officer is authorized to draw a check on the General Fund for establishing a change fund in the amount of $50.00 for the purpose of making change without commingling other funds to meet the requirements of the Police Department. Said change fund shall be in the custody of the Police Chief and the Police Chief shall maintain the integrity of the fund.
      E.   Aquatics Center and Campbell Park Concessions. The finance officer is authorized to draw two checks on the General Fund. One is for establishing a change fund in the amount of $1,500.00 for the purpose of making change without commingling other funds to meet the requirements of the Parks and Recreation Department at the Aquatics Center. The finance officer is authorized to draw a second check to establish a change fund for the Campbell Park Concessions in the amount of $500.00 for the purpose of making change without commingling other funds to meet the requirements of the Campbell Park Concessions. Said change funds shall be in the custody of the Recreation Coordinator of the Aquatics Center and the Recreation Manager respectively, and the Leisure Services Director shall maintain the integrity of the fund.
3-1-4 FUND CONTROL.
   There shall be established and maintained separate and distinct funds in accordance with the following:
   1.   Revenues. All monies received by the City shall be credited to the proper fund as required by law, ordinance, or resolution.
   2.   Expenditures. No disbursement shall be made from a fund unless such disbursement is authorized by law, ordinance, or resolution, was properly budgeted, and supported by a claim approved by the Council.
   3.   Emergency Fund. No transfer may be made from any fund to the Emergency Fund.
(IAC, 545-2.5[384, 388], Sec. 2.5[2])
   4.   Debt Service Fund. Except where specifically prohibited by State law, monies may be transferred from any other City fund to the Debt Service Fund to meet payments of principal and interest. Such transfers must be authorized by the original budget or a budget amendment.
(IAC, 545-2.5[384, 388], Sec. 2.5[3])
   5.   Capital Improvements Reserve Fund. Except where specifically prohibited by State law, monies may be transferred from any City fund to the Capital Improvements Reserve Fund. Such transfers must be authorized by the original budget or a budget amendment.
(IAC, 545-2.5[384, 388], Sec. 2.5[4])
   6.   Utility and Enterprise Funds. A surplus in a Utility or Enterprise Fund may be transferred to any other City fund, except the Emergency Fund and Road Use Tax Funds, by resolution of the Council. A surplus may exist only after all required transfers have been made to any restricted accounts in accordance with the terms and provisions of any revenue bonds or loan agreements relating to the Utility or Enterprise Fund. A “surplus” is defined as the cash balance in the operating account or the unrestricted retained earnings calculated in accordance with generally accepted accounting principles in excess of:
      A.   The amount of the expense of disbursements for operating and maintaining the utility or enterprise for the preceding three months; and
      B.   The amount necessary to make all required transfers to restricted accounts for the succeeding three months.
(IAC, 545-2.5[384, 388], Sec. 2.5[5])
   7.   Balancing Of Funds: Fund accounts shall be reconciled at the close of each month and a report thereof submitted to the Council.
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