(A) The city hereby establishes the office of Finance Director.
(B) The responsibilities and duties of the Finance Director shall include, but are not limited to, the following:
(1) Overall responsibility of the Finance Director shall be to account for and control the city’s Financial Department; to oversee all financial operations of the city; to ensure the Department reports and other financial assets are reconciled and in good standing; to provide financial advice for sound investment decisions relating to public funds, including industrial revenue bonds and economic development; to develop strategies to assess, manage, and minimize potential financial risks of public funds or employee retirement accounts; to provide financial reports and analyses for financial performance on city and special investments projects; to build rapport with other department heads and local government agencies; to provide research and tax advice for department heads; to review statistics and make forecasts and projections to help department heads build more comprehensive budgets; to work independently as well as in a team oriented environment, with strong written and verbal communication skills essential and appropriate for professional position.
(2) Duties of the Finance Director shall be as follows:
(a) Manages and oversees the overall accounting functions of the city.
(b) Supervises, schedules, and evaluates day-to-day activities of departmental staff.
(c) Maintains full integrity of all revenues, ensuring compliance with the city policies and procedures, as well federal, state, and local laws and regulations.
(d) Compiles fiscal estimates and prepares fiscal reports as requested including monthly and annual financial statements and audit reports.
(e) Ensures compliance with generally accepted government accounting procedures through observation, supervision, and testing, cooperates fully with annual audit.
(f) Monitors the performance of investments including creation of reports.
(g) Analyzes trends to reduce financial risks associated with making investment or spending decisions.
(h) Maintains strong understanding of current fiscal policy and investment regulations.
(i) Responsible for managing the overall cash flow of the city.
(j) Oversees the preparation of city tax reports and payments.
(k) Offers advice to the Mayor regarding spending, budget and audit issues.
(l) Aids the Mayor as required in assembling city’s annual budget and reports.
(m) Supports and manages the city’s bi-weekly payroll process, accounts receivable, accounts payable, collection of city revenue, and reconciliation of all accounts.
(C) The Finance Director shall be appointed by the Mayor with the approval of the City Council, and shall take the oath as required in § 228 of the Kentucky Constitution.
(D) No bond shall be required of the Finance Director.
(E) The Finance Director shall be paid an annual salary as passed in the annual budget ordinance for the city.
(Ord. 18-2023, passed 10-2-2023)