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Proposed Charter Amendments
<br />June 19, 2018
<br />Page 4
<br />The City Council shall maintain a revolving fund to be known as the "Stabilization Fund", for the
<br />purpose of placing the payment of running expenses of the City during the fiscal year on a cash
<br />basis. A reserve shall be built up in this fund from any available sources in an amount which the
<br />City Council deems sufficient with which to meet all lawful demands against the City for the first
<br />five (5) months, or other necessary period, of the succeeding fiscal year prior to the receipt of ad
<br />valorem tax revenues. Transfers may be made by the City Council from such fund to any other
<br />fund or funds of such sum or sums as may be required for the purpose of placing such funds, as
<br />nearly as possible on a cash basis. All moneys so transferred from the stabilization fund shall be
<br />returned thereto before the end of the fiscal year.
<br />5. Investigations
<br />Sec. 1100. - Investigations by the city council or city manager.The City Council, the City
<br />Manager, or any person or committee authorized by either of them, shall have power to inquire
<br />into the conduct of any office, department, agency, or officer of the City and to make
<br />investigation as to City affairs, and for that purpose may subpoena witnesses, administer oaths,
<br />and compel the production of books, papers, and other evidence.
<br />6. Qualifications of Finance Director
<br />Sec. 704. - Director of finance; qualifications, powers and duties.
<br />To become eligible for the position of director of finance, the person appointed by the City
<br />Manager shall be qualified to administer and direct an integrated department of finance. The
<br />director of finance shall have power and be required to:
<br />(a) Have charge of the administration of the financial affairs of the City under the direction of
<br />the City Manager; (b) Supervise and be responsible for the disbursement of all moneys and have
<br />control over all expenditures to insure that budget appropriations are not exceeded; (c) Supervise
<br />a system of financial internal control including the auditing of all purchase orders before issuance,
<br />the auditing and approving before payment of all invoices, bills, payrolls, claims, demands, or
<br />other charges against the City, and, with the advice of the City Attorney, when necessary,
<br />determine the regularity, legality, and correctness of such charges; (d) Settle claims, demands, or
<br />other charges, including the issuing of warrants therefor; (e) Maintain general and cost
<br />accounting systems for the City government and each of its offices, departments, and other
<br />agencies; keep separate accounts for the items of appropriation contained in the City budget,
<br />each of which accounts shall show the amount of appropriations, the amounts paid therefrom, the
<br />unpaid obligations against it, and the unencumbered balance; and require reports of the receipts
<br />and disbursements from each receiving and expending agency of the City government; to be
<br />made daily or at such intervals as he may deem expedient; (f) Submit to the City Council through
<br />the City Manager a monthly statement of all receipts and disbursements and other financial data
<br />in sufficient detail to show the exact financial condition of the City, and, as of the end of each
<br />fiscal year, submit a complete financial statement and report; (g) Administer the license and
<br />business tax program of the City; (h) Direct treasury administration for the City, including the
<br />receiving and collecting of revenues and receipts from whatever source; have custody of all
<br />public funds belonging to or under the control of the City or any office, department, or other
<br />agency of the City government; and deposit all funds coming into his hands in such depository as
<br />may be designated by resolution of the City Council, or, if no such resolution be adopted, by the
<br />City Manager, in compliance with all of the provisions of the state constitution and laws of the
<br />state governing the handling, depositing, and securing of public funds; (i) Direct centralized
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