Chapter 2.10
FINANCIAL OPERATIONS MANAGER
Sections:
I. Duties as Investment Officer
2.10.010 Designation and authority as investment officer.
2.10.030 Validity of previous or outstanding investments.
II. Duties as Auditing Officer
2.10.040 Appointment as auditing officer.
2.10.050 Auditing of claims before payment.
2.10.060 Claim authentication and certification.
2.10.070 Person charged with preparation, submission and certification of vouchers.
I. Duties as Investment Officer
2.10.010 Designation and authority as investment officer.
The financial operations manager for the city, or her/his designee, is designated as the city’s investment officer and is authorized to make, without prior council approval of any specific investment, investments of the city’s excess or inactive funds the city is by law authorized to make. (Ord. 2432 § 2, 1995; Ord. 1913 § 1, 1982).
2.10.020 Investment policy.
Investments authorized in this chapter shall be made in accordance with the following policy which is hereby adopted as the policy of the city for investments of its excess or inactive funds and for disposition of earnings therefrom:
(1) Moneys determined by the city’s investment officer to be available for investment may be invested on an individual fund basis or may, unless otherwise restricted by law, be commingled within one common investment portfolio for investment.
(2) Income derived from investments of a duration of 15 days or more shall be apportioned and used for the benefit of the various participating funds, and income derived from investments of a duration of less than 15 days shall be used for the benefit of the general or current expense fund of the city; provided, however, that if in the event it shall be determined that the city has the option of apportioning said income to the benefit of the general or current expense fund, then in that event the city’s investment officer shall have the discretion to determine whether such income shall be apportioned or whether it shall be credited to the general or current expense fund; provided further, however, that funds derived from the sale of general obligation bonds or revenue bonds or similar instruments of indebtedness shall be invested, or used in such manner as the initiating ordinances, resolutions or bond covenants may lawfully prescribe.
(3) Any excess or inactive funds on hand in the city treasury not otherwise invested or required to be invested by the ordinance, as now or hereafter amended, may be invested in United States Government bonds, notes, bills, certificates of indebtedness, or interim financing warrants of a local improvement district which is within the protection of the local improvement guaranty fund or law for the benefit of the general or current expense fund. (Ord. 2432 § 2, 1995; Ord. 1913 § 2, 1982).
2.10.030 Validity of previous or outstanding investments.
All previous or outstanding investments of city funds for the benefit of the city’s general or current expense fund which have been or could be made in accordance with the provisions of this chapter, as now or hereafter amended, are declared valid. (Ord. 2432 § 2, 1995; Ord. 1913 § 3, 1982).
II. Duties as Auditing Officer
2.10.040 Appointment as auditing officer.
The financial operations manager of the city or his/her designee is appointed as the auditing officer for the city. (Ord. 2432 § 2, 1995; Ord. 1914 § 1, 1982).
2.10.050 Auditing of claims before payment.
The auditing officer shall audit, before payment, all claims presented against the city by persons furnishing materials, rendering services or performing labor, or for any other contractual purpose. (Ord. 2432 § 2, 1995; Ord. 1914 § 2, 1982).
2.10.060 Claim authentication and certification.
All claims shall be prepared for audit and payment on a form and in a manner prescribed by the division of municipal corporations in the State Auditor’s Office. The form shall provide for the authentication and certification by the auditing officer that the materials have been furnished, the services rendered, or the labor performed as prescribed, and that the claim is a just, due and unpaid obligation against the city. No claim shall be paid without such authentication and certification. (Ord. 2432 § 2, 1995; Ord. 1914 § 3, 1982).
2.10.070 Person charged with preparation, submission and certification of vouchers.
The provisions of PMC 2.10.060 notwithstanding, certificates as to claims of officers and employees of the city for services rendered shall be made by the person charged with the duty of preparing and submitting vouchers for the payments of services, and he/she shall certify that the claim is just, true and unpaid, which certificate shall be a part of the voucher. (Ord. 2432 § 2, 1995; Ord. 1914 § 4, 1982).