Chapter 2-16 FINANCE DEPARTMENT

There is established an executive department of the municipal government of the city which shall be known as the finance department, and which shall embrace the offices of city comptroller, city treasurer and such assistants to the comptroller may be provided for by the annual appropriation ordinance. (Ord. 2910 § 1 (part), 1995)

2-16-020 Comptroller—Office created—Appointment.

There is created the office of the city comptroller who shall be the head of the department of finance and shall have the management and control of all matters and things pertaining thereto. The comptroller shall be appointed by the mayor, by and with the advice and consent of the city council. (Ord. 2910 § 1 (part), 1995)

2-16-030 Comptroller—Powers and duties as fiscal agent.

A. The comptroller shall be the fiscal agent of the city and as such shall be charged with and shall exercise general supervision over all officers of the city charged in any manner with the receipt, collection or disbursement of the city revenues and all funds required to be in the custody of the city treasurer.

B. The comptroller shall have charge of all contracts, judgment orders, notes, bonds and evidences of indebtedness belonging to the city except such as are directed by law or ordinance to be deposited elsewhere. He shall have supervision of the issuance and sale of all bonds, warrants and obligations. He shall have authority to execute in the name of the city all necessary releases of claims, settlement of which has been legally authorized. (Ord. 2910 § 1 (part), 1995)

2-16-040 Filing of bonds and contracts with comptroller.

A. Except where otherwise provided, all indemnifying bonds required to be given by any person to the city to insure the performance or carrying out of any contract entered into with the city or of any other obligation, promise or undertaking shall be subject to the approval of the city comptroller and shall be filed in the office of the city comptroller.

B. An executed copy of all contracts approved by the city council shall be filed with the city comptroller and the comptroller shall not be obligated to approve payment of any bill in connection with a contract which has not been filed with the office. (Ord. 2910 § 1 (part), 1995)

2-16-050 Assistant to the comptroller.

The comptroller may designate one of the persons employed in the finance department to act as his assistant and to act in his stead during his absence or illness. (Ord. 2910 § 1 (part), 1995)

2-16-060 Treasurer—Accounting and reports on city funds.

A. The city treasurer shall receive all monies belonging to the city, and shall render at the end of each month, and more often if required by the comptroller or the city council, a statement, under oath, showing the state of the treasury at the date of such account and the balance of the money in the treasury. Such statement shall set forth all the monies received by him and from whom, and on what account such monies shall have been received. It shall also show all monies paid out by him and on what account the same shall have been paid.

B. The city treasurer shall cause books of account to be kept in such manner as to show with entire accuracy all monies received by him, and from whom, and on what account they shall have been received; and all monies paid out by him, and on what account they shall have been paid; and the same shall be shown in such manner that such books may be readily understood and investigated. Such books, and all papers and files of his office, shall at all times be open to the examination of the comptroller, the mayor, the committee on finance, or any member of the city council.

C. Within six months after the end of each fiscal year, the treasurer shall prepare and file with the city clerk an account of monies received and expenditures incurred during the preceding fiscal year. The treasurer’s annual report shall include:

1. A statement detailing all monies received by the city, indicating the total amounts, in the aggregate, received in each account of the city, with a general statement concerning the source of such receipts.

2. Except as provided in subsection (C)(3) of this section, a statement detailing all monies paid out by the city where the total amount paid during the fiscal year exceeds one thousand dollars ($1,000) in the aggregate, giving the name of each person to whom paid and the total paid to each person; and

3. All monies paid out by the city as compensation for personal services, giving the name of each person to whom paid and the total amount paid to each person from each such account; and

4. A summary statement of operations for all funds and accounting groups of the municipality as excerpted from the annual financial report as filed with the appropriate state agency.

D. Upon receipt of such annual report, the city clerk shall publish the account at least once, in one or more newspapers of general circulation published within the city.

E. The treasurer shall also file a copy of the annual account with the town or county collector, as may be required, together with the certificate of the city clerk that the annual account filed is a true and correct copy of the annual account filed with the city clerk, that it was published as required by law and the name of the newspaper in which the annual account was published.

F. In the event that the treasurer fails to prepare and file the report required herein, it shall be the duty of the comptroller or the city clerk to prepare and file the report required by this section. (Ord. 2910 § 1 (part), 1995)

2-16-070 Payments to the city—Records—Bad check fees.

A. License fees, inspection fees, compensation for franchises and all other payments of money to the city not otherwise specifically provided for shall be paid directly to the city comptroller and such payments shall be transmitted by the comptroller to the treasurer. The comptroller and treasurer shall promptly deposit funds received on behalf of the city. The city comptroller shall establish, maintain and preserve records of revenue, taxes, license or permit measures and shall report to the mayor from time to time, or as often as the mayor deems necessary.

B. A fee of thirty-seven dollars and fifty cents ($37.50) shall be imposed on any person, corporation, trustee, court-appointed representative, association or partnership who tenders a check or draft as payment of any tax, license fee, inspection fee, franchise fee or other payment to the city if the check or draft is returned unpaid for any reason. This fee shall be paid within thirty (30) days after notice of return of the check or draft, and shall be in addition to any other fee or penalty imposed for late payment of the tax or fee involved. (Ord. 3218 § 1, 2008; Ord. 2910 § 1 (part), 1995)

2-16-080 Comptroller—Tax and revenue power.

In addition to the other powers conferred on him, the city comptroller shall have the power enumerated in subsections A through D of this section:

A. To administer and enforce all the responsibilities, power and duties delegated to him in every tax ordinance presently contained in or to be included in the code; provided, however, that where said tax revenues are now and are continued to be collected by the state for and in behalf of the city, the department shall act solely in an advisory capacity with respect to such collections;

B. To investigate, analyze and propose new revenue programs for the city toward the end that revenue, tax, license and permit fee financial burdens may be equitably distributed among the citizens of the city;

C. To require the production and examination of books, papers, records and documents pertinent to any tax liability, or license and permit fee, or revenue question as well as to institute investigations, inquiries or hearings consistent with the requirements of due process of law and to take testimony and proof under oath at such hearings;

D. To make and enforce reasonable rules necessary to effectively administer any of the powers granted under this code. Such rules shall only become effective after review and approval by the city council. Upon adoption, such rules and regulations shall be maintained on file in the department of finance and shall be made available for public inspection during regular business hours. (Ord. 2910 § 1 (part), 1995)

Article II. Financial Accounts and Reports

2-16-090 Fiscal year of the city.

The fiscal year of the city shall commence on the first day of May in each year, and end on the thirtieth day of April. (Ord. 2910 § 1 (part), 1995)

2-16-100 Accounting system—Auditing and reports.

A. The books of account and all other public records and documents of the city relating to the finances shall conform to the classification of standard accounts established by the comptroller in an official pamphlet which shall be published and kept always on file in the office of the comptroller. Appropriations made under any of the general classifications set forth in said official pamphlet shall be deemed to be for the items in detail as set forth in the pamphlet. The comptroller shall have the power to establish subsidiary and supporting groups of standard accounts as he may deem expedient.

B. All departments, boards, officers and persons connected with the city government shall adopt and put into effect the system of accounting and auditing provided for, and are required to make their reports and accounts conform to the classification herein provided for or as the same may hereafter be changed by the comptroller in conformity with the power conferred on him, and are also required to use the books and forms prescribed by the comptroller. (Ord. 2910 § 1 (part), 1995)

2-16-110 Appropriations for city expenses—Water fund.

Appropriations shall be made from the water fund, in accordance with generally accepted accounting practices, for those expenses incurred by the corporate purposes fund which are properly attributable to the water fund. The purpose of such appropriations shall be to reimburse the corporate purposes fund for such expenses. The activities which may be reimbursed to the corporate purposes fund include, but are not limited to, comptroller’s office, treasurer’s office, municipal auditing, central purchasing, utilities, legal expenses, pension and such other appropriate expenses. Such reimbursements shall be made from month to month and at such other times as the comptroller may direct. (Ord. 2910 § 1 (part), 1995)

2-16-120 Appropriations for city expenses—Sewer fund.

Appropriations shall be made out of the sewer fund of the city, in accordance with generally accepted accounting practices, to reimburse the water fund or the corporate purposes fund for the expenses chargeable to and to be borne by the sewer fund, such reimbursement to be made from month-to-month and at such other times as the comptroller may direct. (Ord. 2910 § 1 (part), 1995)

2-16-130 Appropriations for city expenses—Other special funds.

Appropriations shall be made from other special funds maintained by the city, in amounts recommended by the comptroller, to reimburse the corporate purposes fund for expenses borne by the corporate purposes fund which are attributable to the special fund. The activities which may be reimbursed to the corporate purposes fund include, but are not limited to, comptroller’s office, municipal auditing, central purchasing, utilities, legal expense, and such other appropriate expenses. Such reimbursements shall be made from month-to-month and at other such times as the comptroller may direct. (Ord. 2910 § 1 (part), 1995)

2-16-140 Comptroller—Records required.

The comptroller shall keep, in a clear, methodical manner, a complete set of books, wherein shall be stated, among other things, the appropriations of the year for each distinct object and branch of expenditure, and also the receipts from each and every source of revenue, so far as he can ascertain the same. (Ord. 2910 § 1 (part), 1995)

2-16-150 Forms and records for city departments.

The forms, ledgers, warrants, vouchers, books of account and all other papers and records used in the various departments and boards of the city government in the transaction of all public business, when not otherwise prescribed by law, shall be such as the comptroller may from time to time prescribe. (Ord. 2910 § 1 (part), 1995)

2-16-160 Comptroller—Annual estimates of expenses.

A. The comptroller shall, on or before the fifteenth day of May of each fiscal year, submit to the corporate authorities a report of the estimates of the funds necessary to defray the expenses of the city government during the fiscal year about to begin. He shall in such report classify the different objects and branches of the city expenditures, giving, as nearly as may be, the amount required for each. For this purpose, he is authorized to require of all city officers and heads of departments, their statements of the condition and expense of their respective departments and offices, with any proposed improvement and the probable expense thereof, of contracts already made and unfinished, and the amount of any unexpended appropriation of the preceding year.

B. He shall, in such report, show the aggregate income of the preceding fiscal year from all sources, the amount of liabilities outstanding upon which interest is to be paid, and of bonds and city debts payable during the coming year, when due and where payable, together with all such information as may be necessary to enable the city council to prepare and pass the annual appropriation ordinance in the manner prescribed by statute, and so that the city council may fully understand the money exigencies and demands of the city for the year for which appropriations are to be made. (Ord. 2910 § 1 (part), 1995)

2-16-170 Comptroller—Verification of claims and accounts.

The comptroller shall have the power, for the purpose of ascertaining the true state of any balance or balances, to require any claimant or claimants seeking payment, to deposit and file with him a statement in writing, under oath, as to any fact, matter or thing concerning the correctness of any account, claim or demand presented. (Ord. 2910 § 1 (part), 1995)

2-16-180 Financial reports by officials—Enforcement of compliance.

A. The comptroller may request all departments, boards, or persons connected with the city government to make such financial reports as he may consider necessary.

B. It shall be the duty of the comptroller, whenever any officer shall refuse or neglect to make such statement, or to adjust his accounts whenever required so to do by the city council or the comptroller, or to pay over to the proper officer any monies in his possession belonging to the city, to cause a notice in writing to be served upon such officer demanding a settlement of his accounts forthwith. In case of refusal or neglect of such officer for a period of five (5) days after the service of said notice to make a settlement and pay over all monies, the comptroller shall report such officer to the mayor, who shall immediately remove him or cause him to be removed from the office. Proceedings for the recovery of any monies due the city shall be at once instituted against such officer. (Ord. 2910 § 1 (part), 1995)

2-16-190 Audit of city accounts.

It shall be the duty of the comptroller to cooperate in any way and to furnish such information as may be required in order to permit and facilitate the annual audit of all city funds. (Ord. 2910 § 1 (part), 1995)

Article III. Payment of Current Obligations

2-16-200 Requisition required.

A. No funds may be obligated against any appropriation except upon written requisition upon a form approved by the comptroller. Such requisition shall include, at a minimum, the following information:

1. The purchase order number issued by the purchasing agent, if there is a purchasing agent, or by the comptroller if there is no purchasing agent, the name of the requesting department, the account or appropriation against which the obligation is to be charged, a statement as to unobligated funds which will remain after the expenditure is incurred, the date of the requisition and a classification of the type of expenditure by general object, such as personnel, purchase, construction, commodities and so forth;

2. A description of the purpose for the obligation, which shall include sufficient detail to permit the comptroller and the chief administrative officer to ascertain whether the requisition conforms to the account or appropriation against which it is to be drawn. The requisition shall be accompanied by any written estimates or other documentation to support the obligation;

3. The requisition shall be signed by the department head and must be approved by the comptroller and the chief administrative officer prior to any obligations being made on behalf of the city.

B. No department head may obligate funds of the city for any purpose without the approval of the requisition by the comptroller and chief administrative officer prior to such obligation. (Ord. 2910 § 1 (part), 1995)

2-16-210 Investigation of requisitions.

The city comptroller shall have the authority to request additional information from any department head to support a requisition prior to its approval. The comptroller is further authorized to verify cost estimates by contacting the vendor proposing to supply goods or services to the city to obtain additional supporting information prior to approval of the requisition and prior to issuance of any payment. (Ord. 2910 § 1 (part), 1995)

Article IV. Municipal Depositories

2-16-220 Funds to be deposited in designated depositories.

No money may be deposited in any bank or savings and loan until it has been designated as a city depository. Funds received by the city shall be deposited daily during banking hours and any funds received by the city after such banking hours shall be deposited on the next business day on which the depository is open for business. (Ord. 2910 § 1 (part), 1995)

2-16-230 Disclosure of certain lending information by banks designated as depositories.

Each bank or savings and loan designated as a city depository shall submit to the city comptroller on an annual basis information pertaining to certain lending practices of the institution. The report shall be made in a form prescribed by the comptroller and shall include:

A. The number and total amount of all loans made on residential property within the city;

B. The number and total amount of all loans made on residential property outside the city but within Cook County;

C. The average interest rate on residential loans made within the city;

D. The average interest rate on residential loans made outside the city but within Cook County;

E. The number and total amount of all construction loans for the rehabilitation of residential property within the city;

F. The number of consumer loans made within the city;

G. The number of all consumer loans made outside the city but within Cook County;

H. The number and amount of all commercial loans made within the city;

I. The number and amount of all commercial loans made outside the city but within Cook County. (Ord. 2910 § 1 (part), 1995)