[Amended at the May 2010 Primary Election8] [Amended at the June 2020 Primary Election to separate the Department of Administrative Services into Finance and Human Resources Departments]
There shall be a Department of Finance which is established for the purpose of creating a unified city accounting system. A Director of Finance shall be appointed by the Mayor with confirmation of Council (as per Section 603). As a minimum requirement, the Director of Finance shall have a degree in business administration or management. The Director of Finance shall be responsible for the administration of activities that include (i) the receipt, expenditure, accounting, investment, custody, and control of municipal funds and assets, including the budget (both operating and capital); (ii) financial accounting, which shall be conducted according to generally accepted accounting principles; (iii) investments and insurance; (iv) payroll; (v) pension administration; (vi) materials management; and (vii) all other financial matters that may arise.
8. Editor's Note: Approved by referendum in May 2010 to combine the Departments of Finance (previously § 607 of the Home Rule Charter) and Human Resources (previously § 705 of the Home Rule Charter) into a Department of Administrative Services.