The Treasurer shall deposit the city funds in depositories as may be selected and approved from time to time by the City Council and as is provided by statute, and the funds shall be kept separate and distinct from any private, personal or non-city funds. Of the banks which may be designated as approved depositories by the City Council, the City Treasurer shall have the authority to determine and designate from time to time, in which banks and what amounts the funds shall be deposited. All funds received by the City Treasurer shall, to the greatest extent possible, and consistent with general government accounting standards, be combined and consolidated into a general account and except as otherwise provided by applicable federal or state law or regulation or otherwise by contract, grant or other agreement, including, but not limited to, funds received on behalf of the Library Board, Police Pension Board, Fire Pension Board, revenue bonds or other similar restricted funds or receipts.
(1980 Code, § 4.003)