In addition to the powers, duties and functions otherwise vested by law in the Finance Officer, he shall:
(A) Develop and implement, subject to approval by the Board of Mayor and Aldermen, a long-range, six-year financial plan for the city.
(B) Attend all meetings of the Board of Mayor and Aldermen, answer questions and give information relative to financial operations on the city and its departments.
(C) Furnish to any aldermanic committee such aid and information regarding the financial affairs of the city as it may request.
(D) Receive cooperation from all departments in providing information which he shall request in order to carry out his statutory functions.
(E) Direct the city's fiscal account systems, using generally accepted accounting principles and taking full advantage of all benefits of automated data processing applications, to the end that the fiscal affairs of all city departments will be adequately and uniformly serviced and that periodic financial and management reports will be available to serve the various needs of all city departments and the Board of Mayor and Aldermen in their decision-making processes and investors.
(F) Develop, administer and, as necessary, revise an integrated system of governmental cost accounting and financial reporting which accurately and systematically accounts for all revenues, receipts, resources and property of the city and each of its departments; and records information about the financial activities of the city and its city departments necessary to compare and control expenditures and commitments, within budgets and appropriations; and from which it shall be possible to obtain accurate annual and interim monthly and quarterly financial statements and other reports which present fairly and with full disclosure the financial position and results of operations of the city in conformance with generally accepted accounting principles; and which makes it possible to determine and demonstrate compliance with finance related legal and contractual provisions, including federal grants, to which the city or any of its departments are subject.
(G) Review all city contracts for budget control.
(H) Pre-audit claims to be presented for the issuance of warrants and certify to the Board of Mayor and Aldermen that such are just and proper claims against the city and within appropriations.
(I) Prepare appropriation warrants and schedules of pre-audited manifests supporting the same, for consideration and execution by the Board of Mayor and Aldermen.
(J) Make such transfers of appropriation items within department budgets and between non-departmental and/or departmental line items, when so authorized by the Board of Mayor and Aldermen, as may be necessary or desirable to best carry out the purpose of such department or functional unit.
(K) Make use of the most advanced and economical techniques within the capabilities of the city's data processing system in carrying out his duties.
(L) Control all payment of monies into the City Treasury.
(M) Complete a comprehensive annual financial report concerning the preceding fiscal year that details the financial condition and operation of the city during that period in a manner consistent with generally accepted accounting principles not later than 90 days after the close of the fiscal year, unless the Board of Mayor and Aldermen, for good cause, shall extend such period. Said report shall subsequently be audited by an independent certified public accountant. Said audit shall be conducted in accordance with prevailing standards and practices of governmental auditing specified by authoritative national standard setting bodies.
(N) Provide coordination of all department financial information in order to assure the compatibility, continuity and integrity of such information.
(O) Advise the Director of Information Systems with regard to planning, management and operation of all internal department financial information systems.
(P) Carry on a continuing analytical research and planning program in the field of governmental financial management in order to provide for the most effective and efficient information management systems possible.
(Q) Conduct a continuous study of financial operation, needs and resources of the city and compile all information necessary for the preparation of the budget so that each successive budget cycle shall have ready access to all information contained in prior budgets.
(R) Assist the Mayor or his designee to compile a tentative budget and budget document.
(S) Cooperate with the Department of Planning in long-range, financial planning to meet the capital needs of the city.
(T) Provide information and reports to the Mayor or his designee, as the Mayor or Board of Mayor and Aldermen shall request, in order to effectively administer the budget.
(U) Consult with the respective department heads, relative to the establishment, supervision and maintenance of uniform and effective business records, business practices, and business management, and provide the necessary direction to ensure that all financial management procedures and requirements are complied with.
(V) At the request of the Board of Mayor and Aldermen, prepare analytical reports of city programs and functions. Examinations will be conducted and reports prepared in accordance with standards of governmental auditing and program evaluation specified by authoritative national standard setting bodies. Reports shall contain analysis, appraisals, comments and recommendations relating to the accuracy and competence of accounting, financial, and management procedures in use.
(W) Monitor department activities based on priorities established by budget program and statute in the following areas: revenues, expenses, staffing, space utilization, fleet operations, and such other public service needs as the Board of Mayor and Aldermen shall direct.
(X) Conduct such investigations, analyses, audits, or research into the financial activities and condition or the financial management procedures, or any specific area thereof, of any department for the information of the Board of Mayor and Aldermen. In all such investigation analysis, or research, the Finance Officer shall have the power to examine whatever accounts or records of, or property or things of value held by said department that the Finance Officer deems useful to said investigation, analysis, or research, and shall conduct such investigation, analysis, or research in accordance with governmental auditing standards as promulgated by the Comptroller General of the United States.
(Y) Provide technical staff assistance in the areas of finance, accounting and budgeting to aldermanic committees and such other committees, including joint committees, as the Board of Mayor and Aldermen may from time to time designate, upon the request of any such committees.
(Z) Prepare fiscal notes and amendments to fiscal notes on all proposed labor contracts. Prepare fiscal impact statements requested by the Board of Mayor and Aldermen.
(AA) Analyze and manage short-term and long-term cash flow requirements.
(AB) Maximize the returns on city investments, considering safety, cash flow, liquidity, and risk.
(AC) Coordinate and monitor cash needs for investment and debt activity.
(AD) Develop a long-term debt plan, including criteria for the issuance of debt and an evaluation of how much total debt is justified.
(AE) Prepare an investment policy covering the management of all city funds for approval by the Board of Mayor and Aldermen, annually.
(AF) Evaluate revenue projections for each proposed revenue bond issue and report findings to the Board of Mayor and Aldermen.
(AG) Advise the Board of Mayor and Aldermen on all investment and debt matters, including but not limited to new bond issues, the status of city debt, and the status of city investments.
(AH) Report quarterly or more often if required to the Board of Mayor and Aldermen the total amount of funds in the City Treasury, the amount belonging to each separate fund, a summary of the funds on deposit and the investments held, and the interest income earned thereon, and any information pertaining to the duties of his office he may think proper or that the Board of Mayor and Aldermen may require.
(AI) Perform all other functions of the City Treasury relative to investment and debt management, including but not limited to themaking of debt service payments and the sale of bonds.
(AJ) Collect, maintain, and provide information on city debt authorized, sold, and outstanding and serve as an information center for all city debt issues.
(AK) Ensure the protection of the city's credit rating.
(AL) Maintain contact with municipal bond issuers, underwriters, credit rating agencies, investors, and others to improve the market for city debt issues.
(AM) Recommend changes in state law and local practices to improve the sale and servicing of city debt.
(Ord. passed 5-6-97; Am. Ord. passed 10-4-05)