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HomeMy WebLinkAboutOrdinance 1382 ORDINANCE NO.. Y O: AN ORDINANCE SETTING FORTH THE BASIC FISCAL POLICIES CF THE 11:I�iiPAL CCVEPI3II7 OF THE CITY OF FAYETTEVILLE; FIXING THE RESPONSIBILITY OF THE COLLECTION AND DISBURSEMENT OF FUNDS ; 'PERITTING THE CITY COUNCIL BY RESOLUTION TO ADOPT RULES AND REGULATIONS GOVERNJ71G ALL PHASES OF FISCAL CONTROL; DECLARING AN EMERGENCY; MID FOR OTHER PURPOSES. WHEREAS, the collection and disbursement of money is a vital factor in municipal govern- ment , and 1'lHEREAS, the collection and disbursement of funds is a trust placed in the City Council as the elected representatives of the citizens of Fayetteville , and WHEREAS, it is incumbent upon the City Council that an independent audit of the funds over which the City Council has supervision should be without exception or qualification, and WHEREAS, the fixing of responsibility and the establishing of rules and regulations governing the collection and disbursement of funds is well within the prerogatives of the City Council, NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, THAT THE BASIC FISCAL POLICIES OF THE CITY OF FAYETTEVILLE SHALL BE : SECTION I , COLLECTIONS (A) All funds accruing to the City of Fayetteville from any and all sources shall be paid into the Department of Finance , (B) It shall be the responsibility of the Department of Finance , under the direct supervision of the City Controller, to perform such collections in a manner consistent with good accounting practices and in accordance with the rules - and regulations governing the collection of funds that shall be developed by the City Controller and approved by the City Council . SECTION II . DISBURSEtMNTS (A) A11 funds disbursed by the City of Fayetteville shall be made by check, signed by the Mayor, indicating his approval of the expenditures , and countersigned by the City Controller indicating that the amount expended is in complete compliance with all rules and regulations governing the purchase of materials and/or services as adopted by the City Council . SECTION, III . ESTABLISHMENT_ OF. FUNDS . (A) The City Council upon recommendation of the Mayor and City Controller and in accordance with good municipal accounting practices , shall establish specific funds into which all receipts shall be deposited.. (B) All funds shall be established and activated by rules and regulations adopted by the City Council governing collections for- the - City of Fayetteville . k MICROFILMED DATE ocj o im8 REEL 1 1 -2- SECTION . IV* BUDGETING (A) The Mayor shall on or before the last regular council meeting in . , , November of each year present to the City Council a budget draw.n :in accordance with the rules and regulations governing budget construction adopted by the City Council . SECTION V. .. AUDITING (A) The City Council shall have the financial affairs of the City audited annually by an independent certified .public accountant who is not: otherwise in the service of the city, or by the Municipal Audit Division of the State of Arkansas . . SECTION VI . RULES AND REGULATIONS (A) . The City Council shall. adopt from time to time , by_ resolution, rules and regulations submitted by the Department of Finance covering .the collection , expending, and auditing of all funds of the City of Fayette- ville . . (B ) The City Council shall also enact , by resolution, rules and regulations . submitted by the Mayor and the Finance Committee of the City Council concerning budgeting, investment of funds , supplemental appropriation of unallocated funds , . and , any other areas of fiscal control not specifically assigned to the Department of Finance . SECTION VII . HILL MID PURPOSE (A) It is the will and purpose of the City Council of Fayetteville in the adoption of this ordinance to expressly state that all funds collected by the City shall be duly levied and deposited in the Department of Finance , that all disbursements by the City shall be in accordance with the rules and regulations adopted by the City Council , and that proper plans for the development of municipal services by all depart- ments of municipal government shall be formulated and articulated in the adoption of an annual report .. SECTION VIII .. SAVINGS . CLAUSE (A) If any section, subsection, sentence , clause or phrase of this ordinance is for any reason declared unconstitutional or invalid, such decision shall not affect the validity of the remaining portions of this ordinance . SECTION . IX. EMERGENCY (A) Whereas the passage of this ordinance is necessary for the preservation of the public health , peace and safety, an emergency is declared to exist , and this ordinance shall be in full force and effect from and after its passage and approval. PASSED AND APPROVED THIS /3-4DAY OF , 1964 ATTEST/: APPROVED : .y�`��'�. 'rN'�•%y�'y " v -SFJ/ �_... t .:. �`:_- lG,r :. i- GEORGE J. DA S; ITY CLERK GUY E. BRO11N. PiAYOR