All public monies, excepting pension funds, shall be deposited in the name of the Town of Melbourne Beach in such qualified public depositories as defined by and designated pursuant to Chapter 280, Florida Statutes, funds, investments, or accounts as designated by the Town Commission; provided, that all public monies shall be deposited or invested in a manner not inconsistent with Florida law. All public monies shall be disbursed in such a manner so that a written record shall be created and maintained pursuant to standards adopted by the State of Florida Auditor General (or said Auditor’s designated successor as provided by law), and if no standards shall have been adopted by the Auditor General, then said written records of disbursal shall be created and maintained pursuant to generally accepted accounting standards as recommended by the Town’s auditors and adopted by the Town.
Any person performing any duties in which he collects, receives, or handles any public monies must qualify under a blanket bond.
(Adopted by electorate 11-6-73; Amendment adopted by electorate 11-2-04; Amendment adopted by electorate 11-3-09)