(A) The office of City Treasurer is hereby established.
(B) The City Commission shall appoint a City Treasurer who shall be the custodian of all funds of the city. The City Commission may remove the City Treasurer at will unless otherwise provided by statute or ordinance. He shall have graduated from an accredited high school and shall be chosen on the basis of his secretarial and accounting skills.
(C) The City Treasurer shall have and exercise all powers and duties assigned to him by statute, this chapter, and such other municipal responsibilities delegated from time to time. He shall advise the City Commission and all other city officers and employees in all financial matters pertaining to their municipal duties or employment or affecting the interests of the city. He shall collect, keep safe, promptly deposit, and account for all city revenues and moneys from all sources; shall maintain accurate and complete records of all city financial transactions according to accepted accounting standards; and shall submit summary statements of receipts and disbursements monthly to the City Commission. He shall prepare and maintain payroll records for all city officers and employees, verify the public purpose of and the city's legal obligation for all disbursements from city funds, pay all claims and accounts against the city approved by the City Commission, and sign all checks authorized to be issued against city funds.
(D) No person shall be appointed or act as the City Treasurer unless such person has taken the oath required by section 228 of the Constitution of the Commonwealth of Kentucky, and has provided a bond, if required, with corporate surety authorized to transact business in the Commonwealth of Kentucky and conditioned upon the performance of the duties specified herein.
(E) The compensation of the City Treasurer shall be in an amount to be established by the City Commission by ordinance.