(A) Designated entities. There are 4 separately designated entities in this section: City Funds, Raton Public Service Company, Raton Housing Authority, and Raton Water Works.
(B) Budget Officer. The City Manager is the Budget Officer for City Funds. The Manager of Raton Public Service Company, Raton Housing Authority, and Raton Water Works is the Budget Officer for these entities. The designated Budget Officer shall prepare and submit the annual budget to the governing body.
(C) Finance Officer.
(1) The City Clerk/Treasurer is the Finance Officer for City Funds. The Board overseeing Raton Public Service Company, Raton Housing Authority, and Raton Water Works shall designate a Finance Officer for these entities.
(2) The designated Finance Officer of each respected entity shall supervise the depositing and safekeeping of all money belonging to the entity and shall designate banks qualified to receive on deposit money entrusted to the Finance Officer’s care and shall manage investments according to state law and the entity’s financial policy. The Finance Officer shall receive and expend money belonging to the entity. The Finance Officer shall have financial reports open to public inspection during regular business hours. The Finance Officer shall prepare and submit reports as required to the Local Government Division of the Department of Finance and Administration. The Finance Officer shall prepare and submit monthly reports to the respective overseeing board and shall prepare a financial summary for the governing body at least quarterly. Each entity is responsible for complying with equitable distribution and collateralization laws.
(D) Payment of funds.
(1) Each entity shall adopt a policy identifying individuals for signing instruments of payment (checks, drafts, transfers, and the like). Two individuals shall sign any instrument of payment.
(2) The City Clerk/Treasurer is hereby designated as one of the signors for the purpose of processing Raton Water Works payroll and as a counter signer on its instruments. The City Commission shall defend and hold the City Clerk/Treasurer harmless for any transactions not signed by the City Clerk/Treasurer.
(E) Governing body responsibilities. The governing body (City Commission) shall enforce rules, regulations, laws, and ordinances enacted for each entity. The governing body shall hold the designated Budget Officer and designated Finance Officer responsible for their designated entity only.
(Ord. 919, passed 1-14-2003)