The Director of the Department of Finance shall be the Chief Financial Officer.
Within the Department shall be the following Divisions:
A. 
Division of Treasury. The Division of Treasury shall be headed by the Chief Financial Officer. The Division shall be responsible for:
(1) 
Custody, investment and disbursement of City moneys;
(2) 
General budgetary accounting and fiscal control and reporting, including the control function required within the City government as set forth in the Charter and N.J.S.A. 40:69A-48. It shall be the duty of this Division to enforce the legal provisions requiring an encumbrance system for budget operation; to enforce the legal provisions which require that expenditures occur only upon written requisition; and to provide for the preaudit of all claims and demands on the City prior to their payment. In addition, this Division shall establish procedures to ensure that all payments made out of any public funds be by individual warrants.
B. 
Division of Revenue. The Division of Revenue shall be headed by the Tax Collector. The Division shall be responsible for billing and collection of all taxes and general revenues.