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Concord Township Overview
Concord Township, MI Code of Ordinance
CONCORD TOWNSHIP, MICHIGAN CODE OF ORDINANCES
TITLE I: GENERAL PROVISIONS
TITLE III: ADMINISTRATION
TITLE V: PUBLIC WORKS
TITLE VII: TRAFFIC CODE
TITLE IX: GENERAL REGULATIONS
TITLE XI: BUSINESS REGULATIONS
TITLE XIII: GENERAL OFFENSES
TITLE XV: LAND USAGE
TABLE OF SPECIAL ORDINANCES
PARALLEL REFERENCES
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§ 32.303  POSTING OF CASH RECEIPTS.
   (A)   The Treasurer shall provide the Clerk a record of all money received and the purpose of the amount received (i.e., the budgeted revenue account or the receivable account). The Clerk shall be provided with a copy of voided or canceled receipts marked “voided”.
   (B)   The Clerk will post each receipt to the receipts journal in numerical order to the proper bank account, fund and revenue account.
(Board and Administrative Policies Manual, § 4.32)
§ 32.304  CASH RECEIPT REPORT.
   A cash receipt report shall be run of each day’s activity batched by deposit. A cash receipt report shall contain the detail of all daily transactions and a summary by general ledger line item, and shall agree with the day’s deposits.
(Board and Administrative Policies Manual, § 4.33)
§ 32.305  DEPOSIT PROCEDURES.
   Total cash collected shall be reconciled to the sum of the pre-numbered receipts. Deposits shall be made intact, with no reductions to deposits made for expenditures, and must be reconciled to official receipts. Deposit tickets (or attached listing) shall list checks by name or number, and amount. Total cash collected shall be deposited every business day (a smaller unit with small transactions could deposit at least once a week), in the appropriate township bank account. Undeposited funds shall be secured in a vault or lockable file cabinet.
(Board and Administrative Policies Manual, § 4.34)
DEPOSITORIES
§ 32.320  BANK ACCOUNTS.
   (A)   All bank accounts shall be in the name of the township and the Township Treasurer. The use of the township’s tax ID number shall be strictly controlled by the Treasurer, and it shall not be used to open non-township bank accounts.
   (B)   Tax collections shall be deposited in a separate bank account in the name of the Treasurer.
   (C)   Bank signature cards shall be kept current and the authorized signers limited to the Township Clerk, Deputy Clerk, Treasurer and Deputy Treasurer.
(Board and Administrative Policies Manual, § 4.35)
§ 32.321  AUTHORIZED DEPOSITORIES.
   (A)   This policy is applicable to all public funds belonging to the township and in the custody of the Township Treasurer. The Treasurer is authorized to deposit funds in approved financial institutions and administration of investments in conformance with state and federal law and policies as set forth in this resolution.
   (B)   The Treasurer shall recommend financial institutions for approval for the safekeeping of township funds based on an evaluation of the performance and solvency of the institution, as well as past performance in exercising due care and prudence in managing the custody of township funds held in trust, if applicable. The Treasurer shall periodically evaluate approved and potential financial depositories and shall make recommendations as to appropriate changes in approved depositories when warranted.
   (C)   (1)   In determining safekeeping and custody qualifications, financial institutions document a minimum capital requirement of at least $10,000,000 and at least five years of operation.
      (2)   All financial institutions and brokers/dealers shall be pre-qualified by supplying the following:
         (a)   Audited financial statements;
         (b)   Proof of NASD certification or FDIC or NCUA insurance;
         (c)   Proof of state registration; and
         (d)   Certification of having read, understood and agreement to comply with the township investment policy.
   (D)   The Treasurer shall annually examine the financial condition and registrations of qualified financial institutions and brokers/dealers by obtaining annual updates of the information listed above.
(Board and Administrative Policies Manual, § 4.36)
§ 32.322  CONTROL OF CASH AND INVESTMENTS.
   All cash and investments shall be under the control of the Township Treasurer. No other individual shall hold cash of the township or open a bank account to hold township cash or investments.
(Board and Administrative Policies Manual, § 4.37)
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