Bills and obligations of the village shall be paid in accordance with the following requirements:
(A) Classification of warrants. Warrants are classified and defined as follows:
(1) Class A warrants are all warrants that are not Class B warrants; and
(2) Class B warrants are warrants relating to payroll and non-payroll taxes; utility payments; flat rate contractual services; monthly credit card charges; the reimbursement of imprest accounts established for the payment of health care and worker’s compensation claims; the return of funds from escrow accounts; payments to correct an error; and items which, in the judgment of the Village Manager, should be paid prior to the next regular meeting of the Board of Trustees to avoid additional expense to the village. If the item is $20,000 or more, the Board must have previously approved the expenditure.
(B) Approval/ratification of warrants.
(1) All warrants shall be signed by the Village President and countersigned by the Village Clerk upon approval or ratification of the same by the Village Board.
(2) All Class A warrants shall require the approval of the Village Board, in connection with the warrants list procedure, prior to the issuance of the same.
(3) All Class B warrants may be issued by the Village Treasurer or without prior approval of the Village Board; provided, however, that the issuance of Class B warrants shall be ratified by the Village Board, in connection with the warrants list procedure, at the next regular or special meeting of the Village Board.
(C) Warrants list procedure. A list of all Class A warrants to be paid, and all Class B warrants previously paid, shall be prepared by the Village Treasurer and submitted to the Village Board for review on a monthly basis, or a more or less frequent basis, as the Village Treasurer may deem necessary. Approval by the Village Board of the warrants list by a roll call vote at a regular or special meeting of the Village Board shall constitute approval of all Class A warrants and ratification of all Class B warrants; provided that the Village Board may, in its sole discretion, except from the approval specific Class A warrants, in which case the Class A warrants shall not be issued.
(D) Method of payment. Warrants issued pursuant to this section shall be paid by the Village Treasurer only in the form of a check, wire or other electronic transfer.
(E) Signatures required. All Class A warrants and all Class B warrants shall be signed by the Village President and shall be countersigned by the Village Treasurer. In the absence of the Village Treasurer, all checks shall be manually countersigned by the Village Manager.
(F) Facsimile signature. The signatures of the Village President and Village Treasurer on checks and warrants issued pursuant to this § 31.26 may be by facsimile signature provided that the facsimile signature complies with the requirements of the Uniform Facsimile Signature of Public Officials Act (30 ILCS 320/1 et seq.).
(G) Maturity account. For convenience in paying matured bonds, coupons and similar obligations to unknown owners on due date, the Village Treasurer shall keep a fiscal agency account in the official depository bank, to which account funds for paying all maturing obligations shall be transferred by regular village warrant, duly countersigned, after which the funds shall be disbursed by the trust department of the official depository bank, as fiscal agent, on written authorization of the Village President, the Village Clerk and the Village Treasurer or by a resolution of the Village Board, and not otherwise.
(H) Reports. In conjunction with the Village Comptroller, Village Collector and Village Auditors, the Village Treasurer shall make reports of the finances of the village as may be required by law or ordinances of the village.
(I) Cancelled warrants and securities. The Village Treasurer shall cancel all warrants and securities paid and redeemed by him or her and shall deliver the same, monthly, to the Village Comptroller for filing in the village office.
(Am. Ord. 1141, passed 4-20-2015; Am. Ord. 1150, passed 8-17-2015)