FINANCIAL REGULATIONS

§ 36.001 ACCOUNTING PUBLICATIONS ADOPTED.

   The most current edition of the Municipal Accounting Manual (MAM) for state municipalities, published by the state department of legislative audit; Government Accounting, Auditing and Financial Reporting (GAAFR), published by the Government Finance Officers Association and the Governmental Accounting Standards Board (GASB), are hereby adopted by the city to govern its financial procedures.

(1957 Rev. Ords., §§ 2.301—2.305; 1992 Code, § 2-51)

§ 36.002 REVENUES AND SPECIAL FUNDS.

   All money belonging to the city derived from taxation, licenses, fines, forfeitures, the operation of waterworks or other public utility owned or operated by the city, or from any other source, shall be paid into the city treasury, and the city council shall designate by ordinance to what fund or funds the money shall be applied as provided by law.

(1957 Rev. Ords., § 2.307; 1992 Code, § 2-52)

Cross-reference:

   Licenses, see ch. 110

   Taxation, see ch. 37

§ 36.003 DEPARTMENT OF FINANCE.

   (a)   There is hereby created for the city a department of finance.

   (b)   The department of finance shall be managed and directed by the city finance officer, who shall be appointed as provided by the charter, and who shall file a bond in the amount of $250,000.

   (c)   The city finance officer shall perform all the duties of the city auditor and city treasurer, as provided by law in the South Dakota Codified Laws and in the ordinances of the city.

   (d)   All references made in the South Dakota Codified Laws and the City Code to the city auditor and city treasurer shall be construed to mean the city finance officer.

(1992 Code, § 2-54) (Ord. 101-76, passed 11-29-1976; Ord. 97-97, passed 12-15-1997)

§ 36.004 AUTHORIZATION OF PROMISSARY NOTES.

   Whenever monies shall have been actually provided for any fund by a levy of taxes or otherwise, and the monies shall not have been actually collected, but concerning the receipt of which monies there can be no question, the city council is hereby authorized to anticipate the receipt of the monies into that fund and may issue promissory notes from that fund to any other fund of the city for which there shall not be immediate use.

(1992 Code, § 2-55) (Ord. 92-98, passed 9-14-1998)

§ 36.005 DISBURSEMENTS BY THIRD PARTY ADMINISTRATORS.

   The mayor may, by executive order, authorize the processing of claims and expenditures by third party administrators under contract with the city, including the issuances of warrants drawn on separate accounts established by the city. Authorized third party administrators shall be subject to audit as determined by the city.

(1992 Code, § 2-56) (Ord. 123-98, passed 11-23-1998)

PURCHASING