143.02 DISPOSITION OF PUBLIC MONIES.
(a) All public monies coming under the custody and control of the City shall be deposited or invested by the Director as provided in this chapter. The Director may retain, however, in such offices of the City as may be necessary, such amounts of public money as may be needed in the opinion of the Director to transact the daily business of such offices.
(b) The Director shall deposit in active deposits such amounts of public monies as are needed in the opinion of the Director to provide the needed cash flow to pay City warrants and checks issued and outstanding, and a reasonable surplus in addition to the amount needed to pay such warrants and checks. All public monies of the City not deposited in active deposits or retained pursuant to division (a) of this section shall be invested in accordance with Section 143.09 of this chapter.
(c) Each department or office of the City receiving public monies shall deliver all public monies coming into its custody or control to the Department of Finance for deposit with an eligible depository no later than the business day next following the day of receipt with the exception of the Municipal Court and the Department of Community Life which shall deposit all public monies on the same basis as the Department of Finance. Any department or office of the City depositing public monies shall enter such deposit in the financial accounting system of the City within twenty-four (24) hours of making the deposit, except that the Municipal Court shall report all deposits of public monies made by the Municipal Court once a month in writing to the Director.
(d) The Director shall maintain the records of the amount of deposits made by the City with each eligible depository. After the end of each month, the Director shall reconcile the statements of the respective eligible depositories to the City's accounting records.
(e) The Director shall maintain books which will show the cash balance of each fund, and shall issue no warrant payable from any such fund unless there is money belonging thereto for the payment of the warrant in full. (Ord. 08-94. Enacted 10-27-08.)