Chapter 3.05
FISCAL POLICIES
Sections:
3.05.010 Budget and capital improvements program.
3.05.040 Statement of annual income and expenditures.
3.05.050 Check writing policy.
3.05.010 Budget and capital improvements program.
(a) The Mayor, with the assistance of the Clerk, shall prepare the budget and capital improvements program of the City for the Council. The budget and capital improvements program shall be submitted as an ordinance.
(b) After public hearing, the Council may approve the budget and capital improvements program with or without amendments and shall appropriate the funds required. [Ord. 01-77 Ch. 28 § 1].
3.05.020 City obligations.
(a) A bond, contract, lease, or other obligation requiring the payment of funds from the appropriations of a later fiscal year or more than one fiscal year shall be made by ordinance and approved by the voters. In the interest of mitigating current housing shortages within the community, conditional exceptions to this policy are possible for residential housing projects meeting the criteria outlined in the “Loan Procedure and Policy” approved by the Council on May 16, 2012 (attached to the ordinance codified in this section).
(b) The Council may make supplemental and emergency appropriations. No payment may be authorized or made and no obligation incurred unless an appropriation has been made by ordinance.
(c) The Council may authorize contracts for capital improvements to be financed wholly or partly by the issuance of bonds. [Ord. 05-2012-44; Ord. 01-77 Ch. 28 § 2].
3.05.030 Fiscal year.
The fiscal year of the City shall begin on the first day of July and end on the last day of June in the following calendar year. [Ord. 01-77 Ch. 28 § 3].
3.05.040 Statement of annual income and expenditures.
(a) The Mayor is responsible for preparing a statement of annual income and expenditures and delivering the statement to the Council before October 1st of each year.
(b) The statement of annual income and expenditures shall be submitted to the Department of Community and Regional Affairs as required. [Ord. 01-77 Ch. 28 § 4].
3.05.050 Check writing policy.
All checks written on City funds shall be prepared by the Clerk and signed by two Councilmembers. If the Clerk is not available, any Councilmember may prepare a check for the signature of any two Councilmembers. The Clerk shall be notified of any check so prepared. [Ord. 01-77 Ch. 28 § 5].