(A) Position created. There is hereby created the position of Comptroller who shall oversee the accounting and financial operations within the village.
(B) Appointment. The Comptroller shall be appointed by the Mayor, subject to the advice and consent of the Board, pursuant to ILCS Ch. 65, Act 5, §§ 3.1-30-5, for a term commencing on May 1 of each year and expiring on April 30 of the following year. Immediately after enactment of this section, the initial term shall be from the date of appointment to April 30, 2014.
(C) Qualifications. The Comptroller shall possess, at a minimum, a degree in accounting or finance. Before entering upon the duties of his or her position, the Comptroller shall execute to the village a bond conditioned on the faithful discharge of the Comptroller’s duties, with sureties to be approved by the Mayor and Board, in a sum of not less than $40,000. The initial salary shall be $38,400 and shall be determined from time to time by ordinance.
(D) Duties.
(1) Generally. The Comptroller shall exercise and perform all accounting and financial functions and duties now or hereafter assigned by the Mayor or Board, or required under law, statute or any ordinance of the Village.
(2) In-house bookkeeper. The Comptroller shall have charge, custody and control of all warrants, vouchers, books, records and documents that are not by statute or by the provisions of the village code given to any other officer of the village and that must, at all times, be open to the examination of the Mayor and Board or any member thereof. The Comptroller shall keep, in a clear and methodical manner, a complete set of books wherein shall be stated, among other things, the appropriations for the fiscal year for each expenditure, all unexpended balances and estimated receipts from every source of income and revenue, the indebtedness of the village, whether bonded or otherwise, and generally the financial condition of the village so far as practicable.
(3) Annual report. On or before May 15 of each year, and before the annual appropriation ordinance is prepared, the Comptroller shall annually submit to the Board a report of his or her estimates of money necessary to defray the expenses of the village during the current fiscal year. In this report, the Comptroller shall:
(a) Classify the different objects and purposes of expenditure, giving, as nearly as may be, the amount required for each;
(b) Show the aggregate income of the preceding fiscal year, from all sources;
(c) Show the amount of liabilities upon which interest is to be paid;
(d) Show the bonds and debts payable during the year, when due and payable; and
(e) Give all other information to the Board that the Comptroller deems necessary, so that the Board may fully understand the demands upon the village for the current fiscal year.
(4) Financial reports. The Comptroller shall prepare and present statements showing the financial condition of the village when requested by the Mayor, the Board, or as may be required by law.
(5) Internal auditor.
(a) The Comptroller shall audit all financial accounts, records and statements concerning the village, and provide evaluations and recommendations to the Mayor and Board on the adequacy and efficiency of the village’s financial practices.
(b) The Comptroller shall annually audit, and more often if required by the Board, all village officials and employees charged in any manner with the receipt, collection or disbursement of village revenues, and the collection and return of all revenues into the village treasury. Following the audit, the Comptroller shall provide a full report to the Mayor or Board, containing suggestions and recommendations as he or she may deem advisable.
(6) Supervision of bonds.
(a) The Comptroller shall keep a correct list of all the outstanding bonds of the village, stating:
1. The number, the date of issuance and expiration of such bonds;
2. The name and address of persons to whom such bonds are issued;
3. The identity of the fund out of which such bonds are payable; and
4. The village bonds that are purchased, paid or canceled.
(b) The Comptroller shall annually submit a report describing the bonds sold or paid during the year, and the terms of such sales or the amount paid, with each and every item of expense thereof.
(7) Supervision of sureties. If at any time it comes to the Comptroller’s knowledge that any or all of the sureties on any such bond are insolvent or will be unable to respond in damages if liability may arise upon any such bond, the Comptroller shall notify the principal or principals upon such bond of such fact, and direct that different and satisfactory sureties be at once procured.
(Ord. 2146, passed 2-6-2014)