A. Payroll Disbursements:
1. For all employees and Council members of the City of McLoud, a documented record shall be maintained in a personnel file of the authorized rate of pay or salary, including benefits, for each employee and Council member. The City Manager shall approve salaries and rates of pay for all employees, except that the City Council shall determine the City Manager's pay rate or salary. Rates of pay for City Council members, Clerk, and Treasurer (statutory duties) shall be set by ordinance in accordance with State Statutes.
2. For each pay period, a record of time worked shall be prepared in the form of time sheets or logs for each employee and Council member to be paid. Such record of time worked shall be verified as to its accuracy in writing by the employee or Council member, department head, and the City Treasurer or designated Payroll Clerk. Time sheets or logs are to be completed by each employee daily, maintained by the department head, and available for review by the City Manager, City Treasurer, or Payroll Clerk. Vacation and comp time must be noted on the time sheets and approved by the department head and City Treasurer or designated Payroll Clerk.
3. Upon verification of the time worked, the payroll shall be prepared by the designated Payroll Clerk and a payroll register shall be printed for review. The payroll register shall be presented to at least one authorized check signer who shall compare the net payroll amounts to the payroll register and verify its accuracy. Upon verification, the payroll and related tax and benefit payments shall be paid.
4. All payrolls shall be direct deposited. The net payroll payments shall be prepared from the payroll register, along with checks (or direct deposits) for payment of related payroll taxes and other payroll benefits required by law or contract.
5. The payroll register shall be provided to the Governing Body for informational purposes at the next regular meeting; however, Governing Body approval is not required prior to payment of payroll related costs if incurred and paid in accordance with the provisions above.
B. Purchases Of Goods And Services (Other Than Payroll And Payroll Related):
1. The following employees have been designated as purchasing agents empowered to purchase or contract against their assigned budget appropriation accounts:
a. City Manager (all funds and departments).
b. City Treasurer.
c. City Clerk.
d. Purchasing agents designated by the City Manager or City Council.
The City Manager shall assign budget appropriation accounts to the department heads as needed.
2. The employee receiving satisfactory delivery of merchandise or contract services shall acknowledge such fact by signing the invoice or delivery ticket. The invoice, along with delivery ticket if applicable, must then be verified by the authorized purchasing agent as to quantities, services, and prices. If correct, the invoice must then be signed by the authorized purchasing agent and coded with the fund(s) and budget line item(s) to be charged. If it is not clear from the itemized invoice, a description of the purpose of the purchase must be noted on the invoice. Once the invoice has been verified as correct, it must be forwarded to the City Treasurer or designated Accounts Payable Clerk. All invoices must be processed as received, or at least daily, so that no invoice is lost.
3. The City Treasurer or designated Accounts Payable Clerk shall review all invoices for proper signatures and appropriateness of fund(s) and budget line item(s) to be charged. Upon acceptance of the invoices, the City Treasurer or designated Accounts Payable Clerk shall prepare checks in payment of the invoices and shall cancel each invoice as its check is prepared. Invoices shall be cancelled by noting on the invoice the date paid, the check number used to pay the invoice, and the amount paid with the check. All outstanding invoices that have been properly approved for payment shall be paid at least weekly so that all City bills are paid in a timely manner and no late payment fees are incurred.
4. The invoices and checks, along with a check register, shall be presented to two (2) authorized check signers who shall compare the checks to the invoices and check register and verify their accuracy by signing the check register. Upon verification, both authorized check signers shall sign the checks which shall be prepared for distribution. The check register shall list in check number order the check date, check number, vendor, and check amount, and shall include a description of the purpose of the expenditure.
5. The check register(s) shall be provided to the Governing Body for informational purposes at their next regular meeting; however, Governing Body approval is not required prior to payment of invoices if charges were incurred and paid in accordance with the provisions above.
6. For all purchases of goods and services (other than payroll and related) over one thousand dollars ($1,000.00), purchase orders or contracts shall be prepared by a department head and approved, in writing, by the City Manager prior to the time the purchase commitment is made.
7. For all purchases of goods and services (other than payroll and related) over seven thousand five hundred dollars ($7,500.00), purchase orders or contracts shall be prepared and approved by the City Council prior to the time the commitment is made, and such approval shall be recorded in the minutes. Additionally, the City Treasurer or Accounts Payable Clerk shall immediately determine that there exists available unencumbered appropriation in the budget account to be charged, and such determination shall also be recorded in the minutes. Should appropriation not be available for the proposed purchase or commitment, the purchase or commitment shall not proceed until necessary budget amendments are authorized.
C. Interfund Transfers:
1. All transfers between funds shall only be made in accordance with Governing Body appropriations as reflected in the original or amended City budget.
2. Once lawfully appropriated, interfund transfer payments may be made by the City Treasurer without further Governing Body approval in the manner used for payment of purchases of goods and services.
D. Petty Cash:
1. As provided for in title 11 Oklahoma Statutes, section 17-102(D), the City may have petty cash accounts for use in making certain small payments for costs incurred in operating the City.
2. Each petty cash account established shall require Governing Body approval, including the imprest amount of the petty cash account. However, in no case should the imprest balance exceed five hundred dollars ($500.00).
3. The petty cash accounts shall be reimbursed by utilizing properly itemized invoices in the manner used for payment of purchases of goods and services. However, in no case shall an individual payment from petty cash exceed fifty dollars ($50.00).
E. Debt Service:
1. All long-term indebtedness in the form of bonds, notes, or lease purchase obligations shall be incurred in the manner provided by law.
2. Once lawfully incurred, the City Treasurer shall make payments of principal and interest on the debt in accordance with the terms specified by the lender without further approval of the Governing Body.
3. The manner of payment shall be consistent with the manner used for payment of goods and services.
4. Current balances on outstanding debt shall be maintained by the City Treasurer in the appropriate journals.
F. Competitive Bidding:
1. The City of McLoud shall adhere to the provisions of Oklahoma Statutes (1991), title 61, sections 101 et seq., when determining when competitive bidding is required and the manner in which competitive bids will be obtained.
2. If this Code provides for additional competitive bidding requirements, such additional requirements shall be met.
3. In addition to the requirements above, public trusts created pursuant to Oklahoma Statutes title 60, section 176, of which the City of McLoud is sole beneficiary, shall also follow the competitive bidding provisions of Oklahoma Statutes title 60, section 176(g).
G. Financial Reporting:
1. The City Treasurer shall prepare monthly financial reports which disclose at least, but not limited to, all receipts and expenditures by fund in the same format as the approved budget and showing the variance from the budget.
2. The financial reports shall be placed on the agenda for acknowledgment by the Governing Body at each regular meeting.
H. Applicability To Public Trusts:
1. For all public trusts created pursuant to title 60 Oklahoma Statutes, sections 176 - 180, for which the City is beneficiary and for which the trust's board of trustees is comprised entirely of members of the City Council, all subsections of this section shall apply.
2. For the purposes of public trusts as defined above, City Treasurer shall mean trust secretary as defined by the trust indenture. (Ord. 2018-02, 3-22-2018)