There is created and established in and for the City a Finance Department, which Department is vested and charged with the following duties and responsibilities:
(A) To maintain and operate the general accounting system of the City and of each and all of the respective departments, offices and agencies thereof;
(B) To perform or to prescribe such accounting functions and duties in accordance with Generally Accepted Accounting Principles (GAAP) promulgated by the American Institute of Certified Public Accountants (AICPA) and in accordance with accounting and reporting standards established by the Government Accounting Standards Board (GASB);
(C) To keep and maintain or to prescribe and require the keeping and maintaining of inventory records of Municipal properties necessary in accordance with Generally Accepted Accounting Principles (GAAP) and in accordance with standards established by the Governmental Accounting Standards Board (GASB);
(D) To assume, maintain and perform all functions and duties relating to the administration and control of business license issued by the City, and of the collection revenues arising therefrom;
(E) To assume and perform all Municipal functions and duties relating to the preparation, auditing; presenting and disbursement of claims and demands against the City, including payrolls;
(F) To assist the City Manager in the preparation of the annual budget and in the administration thereof;
(G) 1. To prepare and present to the City Council through the City Manager in sufficient detail to show the exact financial conditions:
(a) A monthly (or more frequently as may be desired) statement of all receipts, disbursements and balances of the City;
(b) An annual statement and report of the financial condition of the City;
(c) Such other financial reports as may be required by the City Council or the City Manager.
2. To prepare and present the annual report required by law to the State Controller, and such other further and additional reports as may be required from time to time by law.
(H) To perform such additional duties and functions as may be hereafter prescribed or required by the City Manager. (Ord. 655-97, 8-19-1997)