145.01 DIRECTOR OF FINANCE; DUTIES.

   There is hereby created a Department of Finance for the City which shall be under the direction of a Director of Finance who shall be accountable to the City Manager. The Director shall perform the following duties:

   (a)   Keep in proper books a full and accurate record of all moneys received and disbursed on behalf of the City and of all moneys due to and from the City upon contracts and orders upon which the City is obligated and otherwise;

   (b)   Receive and have custody of all moneys paid to the City and disburse all city moneys in accordance with the City Charter and ordinances, signing all warrants in making such disbursements;

   (c)   Render a monthly report to the City Manager and Council reflecting the financial condition of the City, showing monthly receipts, encumbrances and outstanding balances of all funds;

   (d)   Certify that funds are available according to law to pay moneys provided by all contracts, agreements or other obligations for the expenditure of City funds, and no such contract, agreement or other obligation shall be valid until so certified;

   (e)   Make payment of the interest and principal on the bonded debt when due, and keep accurate records of such debt and of such payment thereon;

   (f)   Prepare the City payrolls;

   (g)   Administer all employee pension and benefit funds, receive such funds, act as custodian thereof and make disbursements therefrom, signing warrants and checks for such purposes, according to law;

   (h)   Enter into contracts with legal depositories for the deposit of all funds of the City with such depositories, rent safe deposit boxes or otherwise provide for the safekeeping of securities and other documents for payment of money to the City, and maintain custody of all documents evidencing investments of the City and pension and benefit funds of City employees;

   (i)   Prepare and submit such reports as may be required by law;

   (j)   Assist the City Manager in the preparation of the annual budget;

   (k)   As fiscal officer of the City, sign all notes and bonds issued by the City. The President of Council is also authorized to sign such notes and bonds; and

   (l)   Perform any other duties assigned by the City Manager not inconsistent with the City Charter, State law or other ordinances.

(Ord. 1419. Passed 6-18-62.)

145.02 CONTRACTS AND PURCHASE ORDERS.

   Every undertaking of the City involving the expenditure of City money shall be in writing, in the form of a purchase order or a contract as may be appropriate, and no officer or employee of the City shall have authority to enter into any oral agreement involving the expenditure of money. The City Manager shall sign all contracts on behalf of the City and he and the Director of Finance shall sign all purchase orders. The Director shall attach to each contract a certificate signed by the Director, and there shall be attached to or included in each purchase order a certificate of the Director that the estimated amount of money required to meet the obligation of the City by such contract or purchase order has been lawfully appropriated and in the proper fund or in the process of collection to the credit of the fund involved, free from any prior encumbrance. In the case of a contract to continue beyond the current fiscal year and to involve expenditures of money in future years, the Director shall only certify as to the money estimated to be paid by the City thereunder during the current fiscal year.

(Ord. 1419. Passed 6-18-62.)

145.03 PAYMENT OF FUNDS.

   Prior to the issuance of the City's warrant in payment of a bill, the Director of Finance shall require invoices to be submitted to him by the vendors and shall further require that the head of the department of division of the City concerned shall submit to the Director a copy of the purchase order certified to the effect that the goods or services for which the purchase order and invoice are rendered have been delivered or performed in the manner, quantity and quality specified, prior to the issuance of the City's warrant in payment thereof, whereupon the City's warrant shall be promptly issued in payment.

(Ord. 1419. Passed 6-18-62.)

145.04 PAYROLLS.

   Payrolls shall be submitted to the City Manager for approval, and upon approval the Director of Finance shall issue his warrants in payment thereof when due. It shall not be necessary for the Director to encumber in advance or to certify as to the availability of funds appropriated for personal services except those obtained on a contractual basis, provided that upon issuance of such warrants the Director shall immediately cause the appropriate funds to be encumbered to the extent of the warrants issued.

(Ord. 1419. Passed 6-18-62.)

145.05 PAYMENT ON CONTRACTS.

   Prior to the making of partial or final payments on contracts, the City Manager and the City Engineer shall certify that the conditions of the contract for which the payment is to be made have been complied with. In the case of partial payments, such payments shall be made on estimates of the amount and value of the work accomplished; the certificates or estimates shall include only the amount and value of the work accomplished and materials used since any preceding estimate; such certificates or estimates shall further indicate that a greater portion of the contract has been performed by the contracting party, than that which is represented by the requested partial payment, in addition to any preceding partial payments. Upon receiving such certificates, estimates or invoices, properly certified, the Director of Finance shall then issue warrants in payment.

(Ord. 1419. Passed 6-18-62.)

145.06 ADJUSTMENT OF FUND BALANCES.

   The City Manager and the Finance Director are hereby authorized and directed to readjust the appropriated items in various funds by taking from a subdivision over- provided for in a fund, and transferring a necessary amount to a subdivision of the same fund under-provided for, but such adjustment shall not increase the total amount appropriated for the General Fund or any other fund.

(Res. 1654. Passed 9-19-83.)

145.07 CAPITAL EXPENDITURES.

   (a)   Definitions. As used in this section:

      (1)   "Authorized officer" means the Director of Finance or any person designated by the City Manager to perform the duties of the Director of Finance.

      (2)   "Bonds" means and includes bonds, notes, certificates and other obligations included in the meaning of "bonds" under Section 150 of the Internal Revenue Code of 1986.

      (3)   "Declaration of official intent" means a declaration of intent, in the manner contemplated in the Reimbursement Regulations, that expenditures are reasonably expected to be reimbursed from the proceeds of reimbursement bonds to be issued after the expenditure is paid.

      (4)   "Public record" is as defined in Ohio R.C. 149.43.

      (5)   "Reimbursement" or "reimburse" means the restoration to the issuer or conduit borrower of money temporarily advanced from its other funds and spent for capital expenditures, including any issuance costs, before the issuance of the reimbursement bonds. "Reimbursement" or "reimburse" does not include the refunding or retiring of bonds previously issued and sold to, or borrowings from, unrelated entities (e.g. entities not in the same "controlled group," as defined in the Reimbursement Regulations).

      (6)   "Reimbursement bonds" means any issue of bonds, all or part of the proceeds of which are to be used for reimbursement of capital expenditures paid before issuance of the bonds.

      (7)   "Reimbursement Regulations" means Treasury Regulations Section 1.103-18 and any amendments thereto or superseding regulations, whether in proposed, temporary or final form, as at the time applicable, prescribing conditions under which the proceeds of reimbursement bonds, when allocated or applied to a reimbursement, will be treated as "spent" for all or any purposes of Sections 103 and 141 to 150 of the Internal Revenue Code of 1986.

   (b)   Declarations of Official Intent. Each authorized officer is authorized to prepare, sign and include in the public records, declarations of official intent with respect to capital expenditures (including any costs related to the issuance of the reimbursement bonds) to be made from money temporarily available, and which expenditures are reasonably expected to be reimbursed (in accordance with applicable authorizations, policies and practices) from the proceeds of reimbursement bonds; to make appropriate reimbursement and timely allocations from the proceeds of the reimbursement bonds to reimburse such prior capital expenditures; and to take any other actions as may be appropriate, all at the times and in the manner required under the Reimbursement Regulations, to satisfy the requirements for proceeds used for reimbursement to be treated as "spent" for purposes of Sections 103 and 141 to 150 of the Internal Revenue Code of 1986.

   (c)   Public Inspection. Each declaration of official intent shall be filed in the office of the Clerk of Council, treated as a public record and made available for reasonable public inspection not later than thirty days after the date of the Declaration of Official Intent, continuously during normal business hours on every business day to, and including, the date of issuance of the reimbursement bonds.

(Ord. 4184. Passed 3-16-92.)