[HISTORY: Adopted by the City Council of
the City of Glenarden as indicated in article histories. Subsequent
amendments noted where applicable.]
[Adopted 9-8-1997 by Ord. No. O-07-1997]
A.
A report is to be titled "Revenue and Expenditure
Statement."
B.
The report is to contain headings for revenues and
expenditures for:
(1)
Budget categories.
(2)
Budget - current year.
(3)
Actual current month - actual amounts for the current
month.
(4)
Year-to-date - cumulative amounts for the year (July
1 - June 30).
(5)
Budget balance - revenue amount remaining to be received
(budget minus year-to-date); expenditures - amount remaining in the
account.
(6)
Percent - show percentage amount remaining and expended.
C.
The statement is to list all categories, departments
and line items as passed in the current year's budget.
D.
The statement must provide totals for each line item
and department or category.
E.
The statement must provide a total indicating the
total revenue and expenditure difference with the balance and percent.
F.
The distribution of the detailed Statement of Revenue
and Expenditure will be for the Council only, and must be distributed
by the 20th of each month, it will be available to others upon request.
The distribution of a summary statement of department and category
totals shall be provided for the public meetings.
The balance sheet provided with the Annual Audit
is sufficient.
A copy of all bank reconciliations is to be
provided to the Council by the 20th of the month following the end
of each quarter.
All bank statements are to be provided for review
by the Chairman of the Council by the 20th of each month.
[Adopted 12-12-2011 by Ord. No. O-08-2011[1]]
[1]
Editor's Note: This ordinance also changed the title
of this chapter from "Financial Reports" to "Financial Reports and
Discretionary Funds."
The purpose of the City Discretionary Fund Policy is to define
the acceptable practice governing the approval, expenditure and accounting
of discretionary funds designated for the Mayor and Council.
As used in this article, the following terms shall have the
meanings indicated:
A public purpose activity or service that is open to all
members of the public without restriction and does not promote a particular
religion.
Funds appropriated in the executive and legislative sections
of the City's budget that are recorded as a line item for use
by the Mayor and Council at his or her own discretion.
Any use or benefit that does not directly or indirectly contribute
to the City's overall well-being through partnership building,
financial collaborations or other functions.
The Mayor and Council set the dollar amount of the discretionary
funds during the yearly budget process. The funds must be used for
a City purpose.
The following items are considered approved expenditures for
use of City discretionary funds:
A.
In the event of a death of an elected official, former official,
current or former City committee member or advisory committee member,
employee or his or her immediate family member or an elected official
of a neighboring municipality, the Mayor or Council may choose to
purchase flowers, cards or other bereavement items;
B.
Travel to and from a meeting with municipal, county, state and federal
officials or other City business;
C.
To support events and activities that promote Glenarden as an emerging
city for families and businesses; and
D.
To support educational opportunities or initiatives for the residents.
Discretionary funds may not be used for the following:
A.
The Mayor and any Council member may spend discretionary funds on
approved expenditures without prior approval of the Council;
B.
All transactions must be supported by the individual with original
receipts, purchase orders and other documentation sufficient to support
the transaction and will be processed through the normal disbursement
process;
C.
The reason for the disbursement, date, amount and name of the individual/business
the amount is paid to and accounting code must be recorded;
D.
The actual expenditures and approved budget for the discretionary
fund will be clearly shown on the monthly financial statements, and
expenditures cannot exceed the budgeted amount;
E.
The City Treasurer will periodically review the receipts and other
documentation to ensure compliance with the discretionary fund policy.
In the event a material issue is discovered in the discretionary fund,
the issue will be documented and reported to the Mayor and Council
together with the City Manager; and
F.
Unexpended budget funds will lapse and not carry forward into the
next fiscal year.
