Section
300 Director of Finance; Powers and Duties of Office.
301 Treasury; Treasurer.
302 Funds.
303 Investments.
310 Fiscal Year.
311 Budget Estimates to Mayor; Statement of Budget Priorities.
312 Mayor’s Proposed Budget.
313 Council Consideration of Budget.
314 Mayor’s Veto.
315 Council Consideration of Mayor’s Veto Message; Final Adopted Budget.
320 Expenditure Programs.
325 Debt Impact Statements.
330 Use of County System of Assessment and Taxation.
331 Tax Levy.
332 Tax Levy – Alternate Method.
340 Transfers Between Funds; Temporary Transfers.
341 Transfers from Reserve Fund; Appropriations from Unappropriated Balance.
342 Transfers of Appropriated Funds.
343 Intra-departmental Transfer.
344 Transfer of Surplus to Reserve Fund.
350 Claims Against City.
360 Payment into Treasury.
361 Law Governing Bonded Indebtedness.
362 Annual Audit.
370 Contracts Required to Be in Writing and Signed.
371 Competitive Bidding; Competitive Sealed Proposals.
372 Competitive Proposals Preferred.
373 Long Term Contracts; Approval by Council.
374 Contract or Direct Employment.
375 Prequalification of Bidders.
376 Change Orders.
377 Prevailing Wage.
378 Living Wage.
380 Purchases.
385 Sale of City Property.
390 Franchises.
The chief administrative officer of the Office of Finance shall be the Director of Finance, who shall be appointed and removed as provided in Section 508. The Office of Finance shall have the power and duty to:
(a) develop and implement the City’s revenue policy consistent with the Charter and ordinance, and develop guidelines for the collection of outstanding receivables;
(b) collect revenues and issue those licenses, permits and tax registration certificates not issued by the City officers or departments; and
(c) make recommendations to the Mayor and Council concerning the efficient organization of the revenue collection functions performed by City offices and departments.
The official depository of the City shall be known as the City Treasury, which shall be under the direction and control of the Treasurer who shall be appointed and removed by the Mayor, subject in both appointment and removal to confirmation by the Council.
The Treasurer shall have the following powers and duties:
(a) The Treasurer shall be the custodian of all money deposited in the City Treasury. Money in the Treasury shall only be paid out upon the presentation of warrants or other forms of communication prescribed by the Controller, after demands for payment have been approved by the Controller in the manner provided elsewhere in the Charter or by ordinance, except that no warrants shall be required for payment of the principal and interest of bonds or other evidence of indebtedness payable by the City when due.
(b) When warrants presented to the Treasurer have all the signatures required by law, and are countersigned by the Controller, those signatures shall be prima facie evidence of the legality of the warrants. The Treasurer may, in the event of the authenticity of any warrant being questioned, fully investigate and satisfy himself or herself regarding the authenticity before paying.
(c) The Treasurer shall transmit to the Controller, at the end of each business day, a detailed statement showing the receipts and disbursements credited or debited to each fund or account.
(d) The Treasurer shall, at the end of each fiscal year, submit to the Mayor and Council a detailed statement of the receipts, disbursements and balances of the Treasury.
(e) The Treasurer shall be the custodian of all securities bought by the City. Upon sale of any bonds by the City, the Treasurer shall deliver the bonds, receive and credit the proceeds to the proper fund or accounts, and report the action to the Council.
(f) The Treasurer shall assist any officer of the City who is authorized by the Charter or ordinance to inspect the records and deposits in the Office of the Treasurer to make an inspection.
(g) The Treasurer shall perform those duties imposed upon City treasurers by any law of the state applicable to the City, and shall furnish a bond for the faithful performance of duties.
(h) The Treasurer shall assist the Controller and outside auditors as requested in the audits of the City’s finances.
All money paid into the City Treasury shall be credited to and kept in separate funds in accordance with the provisions of the Charter, ordinance or other applicable law. In addition to funds established elsewhere in the Charter for departments controlling their own funds, the following funds are hereby established: General Fund, Reserve Fund, and bond funds, interest funds, sinking funds, trust funds and other funds as may be required by law or ordinance.
(a) The General Fund is established as a medium of control of and accounting for municipal activities other than activities authorized or contemplated by special funds. All revenues and receipts which are not by law or Charter pledged or encumbered for special purposes shall be credited to the General Fund.
(b) The Reserve Fund shall include funding for unanticipated expenditures and revenue shortfalls in the City's General Fund. It shall include two accounts within the fund, the Contingency Reserve Account and the Emergency Reserve Account.
(1) Contingency Reserve Account: The Contingency Reserve Account shall include all monies in the Reserve Fund over and above the amount required to be allocated to the Emergency Reserve Account pursuant to subsection (b)(2) of this Section.
(2) Emergency Reserve Account Allocation: The City Council shall annually allocate an amount to the Emergency Reserve Account of the Reserve Fund that shall bring the balance in that account to not less than two and three-fourths (2 3/4) percent of all General Fund receipts anticipated for that fiscal year in the adopted budget.
(3) Accessing Reserve Fund:
(i) The Contingency Reserve Account will be the source of additional funding needed as a result of unanticipated expenditures and revenue shortfalls. The City Council shall, by ordinance, establish policies for the use of the Contingency Reserve Account.
(ii) Transfers from the Emergency Reserve Account of the Reserve Fund shall require approval by a two-thirds vote of the City Council with the concurrence of the Mayor, or, in the event of a Mayoral veto, by a three-fourths vote of the City Council. Concurrent with the transfer, the City Council shall make a finding of urgent economic necessity. The basis on which a finding of urgent economic necessity may be made includes, but shall not be limited to, a significant economic downturn after the budget is adopted, a natural disaster, such as an earthquake, civil unrest, or other significant unanticipated events requiring the expenditure of General Fund resources.
(4) Restoration of Emergency Reserve Account: Except as provided in subsection (b)(5), whenever the City utilizes monies in the Emergency Reserve Account pursuant to subsection (b)(3)(ii) of this Section, the City shall, in the subsequent fiscal year, restore to the Emergency Reserve Account the amount expended therefrom as part of the annual allocation required by this Section to bring the balance in that account to not less than two and three-fourths (2 3/4) percent of all General Fund receipts anticipated for that fiscal year in the adopted budget.
(5) Suspension of Emergency Reserve Account Restoration: In the event of a catastrophic event which requires use of the Emergency Reserve Account spanning more than one fiscal year, the City Council may, by a two-thirds vote with the concurrence of the Mayor or, in the event of a Mayoral veto, by a three-quarters vote, temporarily suspend the requirements of subsection (b)(4) herein; provided, however, that concurrent with the action of the City Council to suspend the requirement, the City Council adopts findings detailing the necessity for continued access to the Emergency Reserve Account and setting forth a date on which the requirements of Section (b)(4) shall be reinstated. Transfers of funds from the Emergency Reserve Account during the time to which the suspension of the requirement to restore such monies applies shall not be required to be restored.
(6) Temporary Transfers: Nothing herein shall prohibit temporary transfers of funds from the Contingency Reserve Account or Emergency Reserve Account as otherwise authorized by City Charter Section 340.
(7) Nothing herein shall be construed as applying to, or limiting, the provisions of Charter Section 231(i) or any other provisions of this Charter, State statute or City ordinance relative to Emergency Declarations.
(c) A Budget Stabilization Fund shall be established by ordinance within the City Treasury. Requirements for funding and transfers or expenditures to be made therefrom shall be established by ordinance.
SECTION HISTORY
Amended by: Charter Amendment P § 1, approved March 8, 2011, effective April 8, 2011.
(a) The Treasurer may deposit the money held in the Treasury in the institutions and upon terms provided by law.
(b) Notwithstanding other provisions of the Charter, the boards of the Proprietary Departments, and of the Departments of Recreation and Parks and Library may grant to the Treasurer the authority to combine money in funds under their respective control with other City money for the purpose of investment. Earnings from the investment of the money of these departments shall be paid by the Treasurer to the department fund from which the money was derived in proportion to the share of the total investment supplied by that fund. The computation of the proportionate shares shall be by a method proposed by the Treasurer, subject to the approval of each of the above boards.
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