(A) The City Controller shall cause to be prepared and transmitted a monthly financial report to members of the Common Council;
(B) The monthly financial report shall include the total expenditures of the major funds of the city for the prior month, total revenues by source received by the city of and allocated to the major funds of the city, and year-to-date totals of revenue and expenditures by the major funds.
(C) The monthly report shall be transmitted to members of the Common Council by the 21st day of the monthly following the month which is the subject of the report.
(D) When significant unexpected revenues (in excess of $300,000) occur the City Controller will notify City Council in the monthly financial report. The city, including any civil city departments and divisions upon receiving revenue from a non-appropriated, non-budgeted, or otherwise New Revenue source (New Revenue), prior to expending said New Revenue, shall provide to Common Council (in writing) the following information:
(1) The source(s) of the New Revenue;
(2) The date that the New Revenue was received by the city or the date (time frame) when the New Revenue will be received;
(3) The Fund or Funds into which the New Revenue is or will be deposited;
(4) The total amount of the New Revenue received or expected;
(5) Any restrictions attached to the New Revenue including those that impact expending the revenue; and
(6) If applicable, the city’s intended use and timetable for expenditure of the New Revenue.
(E) The city, including any city departments and divisions shall not expend or commit to expend any New Revenue without completing the disclosure required in division (D) herein.
(Ord. G-01-09, passed 2-10-09; Am. Ord. G-22-19, passed 9-10-19)