The Finance Director shall have the following powers and duties:
1. Permit and encourage and establish the use of efficient planning, budgeting, auditing, reporting, accounting and other fiscal management procedures in all Municipal departments, commissions, and boards.
2. Compile an annual budget in accordance with Section 8-2-9.3 of the Illinois Municipal Code. (65 ILCS 5/8-2-9.3)
3. Examine all books and records of the following: all Municipal departments, commissions, and boards which relate to monies received by and paid out by the Municipality, all Municipal departments, commissions, and boards; and all debts and accounts receivable, amounts owed by or to the Municipality, Municipal departments, commissions, and boards.
4. Obtain such additional information from the Municipality, Municipal departments, commissions, and boards as may be useful to the Finance Director for purposes of compiling a Municipal budget, such information to be furnished by the Municipality, Municipal departments, commissions, and boards in the form required by the Finance Director. Any department, commission or board which refuses to make such information as is requested of it available to the Finance Director shall not be permitted to make expenditures under any subsequent budget for the Municipality until such Municipal department, commission, or board shall comply in full with the request of the Finance Director.
5. Establish and maintain such procedures as shall insure that no expenditures are made by the Municipality, Municipal departments, commissions, or boards except as authorized by the budget.