(A) Treasurer appointed. The Treasurer shall be appointed for a one-year term with the advice and consent of the Village Board and he or she shall serve until his or her successor is appointed and has qualified.
(`92 Code, § 1-2-75)
(B) Money; warrants; accounts; payments.
(1) The Village Treasurer shall receive all moneys belonging to the village, shall pay all warrants signed by the Mayor and countersigned by the Village Clerk and not otherwise and shall keep a separate account of each fund or appropriation and the debits and credits belonging thereto. He or she shall give to every person paying money into the Village Treasury a receipt therefor, specifying the date of payment, and upon what account paid, and he or she shall file copies of the receipts with the Clerk with his or her monthly reports.
(2) The Treasurer shall prepare daily an itemized list of all moneys received and shall pay over to the Village Treasury all moneys received by him or her and take a receipt therefor.
(`92 Code, § 1-2-76)
(C) Warrant register. The Treasurer shall keep a register of all warrants redeemed and paid by him or her showing the number, date and amount of each, the fund from which paid and the name of the person to whom and when paid. He or she shall cancel all warrants as soon as redeemed by the Treasurer.
(`92 Code, § 1-2-77)
(D) Separation of funds. The Treasurer shall keep all moneys belonging to the village and in the Treasurer’s custody separate and distinct from his or her own money and he or she shall not use, either directly or indirectly, the village moneys or warrants for his or her own use and benefit, or that of any other person. Any violation of this section shall subject him or her to immediate removal from office by the corporate authorities, who may declare the Treasurer’s office vacant.
(`92 Code, § 1-2-78)
(E) Bond. The Treasurer shall give bond conditioned upon the faithful performance of his or her duties and to indemnify the village for any loss due to neglect of duty or wrongful act on his or her part and the amount of the bond shall not be less than 10% of the highest amount of taxes and special assessments received by the Treasurer during any fiscal year in the preceding five fiscal years, nor less than one and one-half times the largest amount which the Board estimates will be in his or her custody at any one time, nor less than three times the number of residents of the village, as determined by the last federal census. The bond shall be filed with the Clerk as required by statute.
(`92 Code, § 1-2-79)
(F) Special assessments. Any money received on a special assessment shall be held by the municipal Treasurer as a special fund to be applied to the payment of the improvement for which the assessment was made, and the money shall be used for no other purpose, except to reimburse the village for money expended for the improvement.
(`92 Code, § 1-2-80)
(G) Bookkeeping. At the end of every month, and more often if required by the corporate authorities, the Treasurer shall render an account under oath to the corporate authorities, or to an officer designated by ordinance, showing the state of the treasury at the date of the account and the balance of money in the treasury. The Treasurer shall accompany the account with a statement of all money received into the treasury and on what account, together with all warrants redeemed and paid by the Treasurer. On the day the Treasurer renders an account, these warrants, with all vouchers held by the Treasurer, shall be delivered to the municipal Clerk and filed, together with the account, in the Clerk’s office. All paid warrants shall be marked “paid.” The Treasurer shall keep a register of all warrants, which shall describe each warrant, showing its date, amount, and number, the fund from which paid, the name of the person to whom paid, and when paid.
(`92 Code, § 1-2-81)
(H) Receipts and expenditures. The Treasurer shall report to the corporate authorities at the regular monthly meeting, a full and detailed account of all receipts and expenditures of the municipality as shown by his or her books up to the time of the report.
(`92 Code, § 1-2-82)
(I) Annual report.
(1) Within six months after the end of each fiscal year, the Treasurer shall prepare and file annually with the Village Clerk an account of monies received and expenditures incurred during the preceding fiscal year as specified in this section.
(2) The Treasurer shall show the following in the account:
(a) All monies received by the village, indicating the total amounts in the aggregate received in each account of the village, with a general statement concerning the source of the receipts; (For the purposes of this division, the term ACCOUNT shall not be construed to mean each individual taxpayer, householder, licensee, utility user or such other persons whose payments to the village are credited to the general account.)
(b) Except as provided in division (I)(2)(c) below, all monies paid out by the village where the total amount paid during the fiscal year exceeds $2,500 in the aggregate, giving the name of each person to whom paid, on what account paid and the total amount in the aggregate paid to each person from each account;
(c) All monies paid out by the village as compensation for personal services, giving the name of each person to whom paid, on what account paid and the total amount in the aggregate paid to each person from each account except that the Treasurer may elect to report the compensation for personal services of all personnel by name, listing each employee in one of the following categories:
1. Under $25,000;
2. $25,000 to $49,999.99;
3. $50,000 to $74,999.99;
4. $75,000 to $99,999.99;
5. $100,000 to $124,999.99; and
6. $125,000 and over;
(d) A summary statement of operations for all funds and account groups of the village as excerpted from the annual financial report, as filed with the appropriate state agency of the state.
(3) Upon receipt of such account from the Village Treasurer, the Village Clerk shall publish the account at least once in one or more newspapers published in the village or, if no newspaper is published in the village, then in one or more newspapers having a general circulation in the village.
(`92 Code, § 1-2-83)
(J) Copy of annual report filed with County Treasurer. Within six months after the end of each fiscal year, the Treasurer shall file with the county collector of taxes levied by the village a copy of the annual account together with an affidavit of the Village Clerk stating that the copy is a true and correct copy of the annual account filed with the Clerk, that it was published or posted as required by law, the date of filing and publication or posting, and, if published, the newspaper in which it was published.
(K) Failure to file account. If the Treasurer fails to file the annual account and affidavit with the County Treasurer within six months after the end of the fiscal year as required by law (ILCS Ch. 65, Act 5, § 3.1-35-65 and 70), the County Treasurer shall withhold payment to the Village Treasurer of any and all moneys due the municipality after the expiration of that six-month period and until the annual account and affidavit are received by the County Treasurer. The failure of the Village Treasurer to comply with these filing requirements shall not preclude the Clerk or other officers of the village from preparing, publishing or posting and filing the annual account and affidavit after the expiration of the six-month period.
(L) Deposit of funds.
(1) Designation by Board. The Treasurer is hereby required to keep all funds and moneys in his or her custody belonging to the village in such places of deposit as have been designated by ordinance. When requested by the Treasurer, the corporate authorities shall designate a bank or banks in which may be kept the funds and moneys of the village in the custody of the Treasurer. When a bank has been designated as a depository, it shall continue as such depository until ten days have elapsed after a new depository is designated and has qualified as provided by law. When a new depository is designated, the corporate authorities shall notify the sureties of the Treasury of that fact in writing at least five days before the transfer of funds. The Treasurer shall be discharged from responsibility for all funds or money that the Treasurer deposits in a designated bank or savings and loan institution while the funds and money are so deposited.
(2) Qualifications of bank.
(a) No bank shall be qualified to receive village funds or moneys until it has complied with the requirements established by Section 6 of the Public Funds Investment Act, ILCS Ch. 30, Act 235, § 6.
(b) The Treasurer may require any bank or savings and loan association to deposit with the Treasurer securities or mortgages that have a market value at least equal to the amount of the funds or moneys of the municipality deposited with the bank or savings and loan association that exceeds the insurance limitations provided by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation.
(`92 Code, § 1-2-84)
(M) Investments. The Village Treasurer is hereby authorized to invest surplus funds or reserve funds of the village in the following types of investments:
(1) General obligation securities of the United States of America or of the state;
(2) Certificates of deposit and time deposits in any bank where the investments are insured by the Federal Deposit Insurance Company;
(3) Insured money market accounts; and/or
(4) Banks and investment funds shall be designated, from time to time as necessary by the Board of Trustees, as places of deposit where the Treasurer of the village shall keep all funds and moneys in his or her custody belonging to the municipality.
(`92 Code, § 1-2-85)
(N) Administrative Manager. The Village Treasurer shall serve as an Administrative Manager of the village and be responsible for performing various administrative duties, including, but not limited to the following:
(1) Prepare and approve all bills for payment by the Village Board;
(2) Manage the input of bills for payment, check printing and distribution of checks;
(3) Assist the Mayor in the preparation of the annual budget;
(4) Prepare monthly financial reports;
(5) Prepare monthly bank reconciliation;
(6) Assist the Village Attorney in the preparation of the annual Tax Levy Ordinance and abatement ordinances, if any;
(7) Maintain files on village fuel usage, office supply usage and postage usage;
(8) Manage and monitor loan and bond payment schedules;
(9) Manage and monitor the annual independent audit;
(10) Assist the Mayor in preparing correspondence, maintaining files and handling various projects from time to time;
(11) Assist in completing grant applications as directed by the Mayor or the corporate authorities;
(12) Assist in the preparation of the annual water/sewer study;
(13) Maintain employee vacation, sick leave and personal day balances;
(14) Maintain the employee manual.
(O) Deputy Clerk. The Treasurer may serve as the Deputy Village Clerk upon appointment by the Village Clerk.
(P) Freedom of Information Act. The Treasurer shall also serve as the Deputy Freedom of Information Officer.
(Q) Other duties. In addition to the foregoing duties, the Treasurer shall perform all such other duties pertaining to his or her office as are or may be necessary to the village, imposed by law or directed by the Village Board by resolution or ordinance.
(Am. Ord. 2010-10, passed 5-5-10)
Cross-reference:
Village Clerk as Freedom of Information Officer, see § 31.26
Statutory reference:
Village Treasurer, see ILCS Chapter 65, Act 5, §§ 3.1-35-40, 3.1-35-45, 3.1-35-50 and 3.1-35-55