In addition to definitions provided in applicable Oklahoma law and as generally understood in the accounting profession, for the purposes of this chapter, the following words and terms shall have the meanings ascribed to them in this section:
APPROPRIATION: An amount authorized by the city council in a budget or budget amendment, duly adopted, or by the mayor in a budget adjustment, to be expended for a designated purpose (object) by or in support of a designated unit, subdivision, or function (department).
BUDGET ADJUSTMENT: A redistribution, authorized by the mayor, of appropriations among departments within a fund or among objects within a department.
BUDGET AMENDMENT: Any revision, approved by the city council in accordance with Oklahoma law, of appropriations at any level of the budget.
BUDGET CONTROL OFFICER: The officer or employee charged with keeping the appropriation and expenditure records. The accounts payable officer or employee is the budget control officer. If no accounts payable officer or employee is assigned or designated, the treasurer is the budget control officer.
CITY: The city of New Cordell, the New Cordell utilities authority, the Cordell development and redevelopment authority, and any other agency or entity whose governing board is identical to the governing board (city council) of the city of New Cordell.
COMPETITIVE BIDDING: Any equitable procedure approved by the city treasurer by which adequate public notice is given and means are provided to accept offers from multiple individuals or entities, and includes sealed bidding, open bidding, and, for sales, public auctions of any type, and online auctions (such as eBay).
COUNCIL, MAYOR, CLERK AND TREASURER: Mean, respectively, the council, the mayor, the clerk, and the treasurer of the city of New Cordell and, also respectively, the governing board, the chair, the secretary (or secretary/treasurer), and the treasurer (or secretary/treasurer) of any agency or entity described in the definition of "city" in this section, or their successors as defined by law or ordinance, or such person(s) as they may in writing direct to act in their behalf.
EXPENDITURE: Any use of funds to acquire goods, services, or capital. The term specifically excludes the disbursement of funds held on deposit or in agency and not considered "revenue" (such as meter deposits, sales taxes collected, income taxes withheld, debts collected for third parties, etc.). An expenditure may be executed (a disbursement made) by cash, by credit or debit card, by check or warrant, by electronic funds transfer, or by such other method(s) as the treasurer may approve. A single expenditure is the total of funds used to purchase all goods, services, and/or capital from a single vendor in a single transaction.
PURCHASE: Any transaction pledging, promising, or requiring an expenditure of city funds or other exchange of value (except goodwill).
PURCHASE ORDER: A physical, electronic, or virtual document authorizing a purchase and subsequent expenditure of funds, such authorization being evidenced by signature, seal, or sign of the budget control officer and the purchasing authority, and specifying in sufficient detail the goods, materials, or services to be purchased, the amount to be expended, the vendor to be paid, and the appropriation account(s) to be charged.
PURCHASING AUTHORITY: The officer or employee authorized to approve purchase orders. The mayor is the purchasing authority. (Ord. 2004-01, 3-1-2004; amd. 2014 Code)