City of Glen Cove, NY Article III Finances

§ C3-1 Fiscal year.

The fiscal year shall commence on the first day of January and end on the last day of December.

§ C3-2 Expenditures not to exceed appropriations; limitation.

[Amended 3-11-1986 by L.L. No. 1-1986]

A. No expenditures shall be made, and no contract liability shall be incurred for any fiscal year beyond the appropriations for such year except as otherwise provided by the Local Finance Law.

B. Notwithstanding the provisions of the New York State Constitution, Article VIII, Section 10, the amount to be raised by tax on real estate in any fiscal year, in addition to providing for the interest on and the principal of all indebtedness, shall not exceed an amount equal to 1.75% of the five-year average full valuation of taxable real estate in the city, less the amount to be raised by tax on real estate in such year for the payment of the interest on and redemption of certificates or other evidence of indebtedness described in paragraphs A and D of Section 5 of Article VIII of the New York State Constitution, or renewals thereof.

[Amended 6-28-2016 by L.L. No. 12-2016]

C. In all other respects, the provisions of the New York State Constitution of average full valuation shall remain in full force and effect.

D. Contracts for public utilities shall not be made for a longer period than five years.

[Amended 6-28-2016 by L.L. No. 12-2016]

§ C3-3 Contracts for the acquisition of goods and services.

A. The purchase of all goods and services for the City shall be executed in accordance with the provisions of the General Municipal Law and the City of Glen Cove’s Purchasing Policy.

[Amended 1-14-1992 by L.L. No. 1-1992; 3-10-1992 by L.L. No. 2-1992; 6-28-2016 by L.L. No. 12-2016]

B. Notwithstanding the foregoing provisions of this section, in the case of a public emergency arising out of an accident or other unforeseen occurrence or condition whereby circumstances affecting public buildings, public property or the life, safety or property of the inhabitants of this city, require immediate action which cannot await competitive bidding, contracts for public work may be let in accordance with the other provisions of this Charter.

§ C3-4 Transfers of surplus funds.

[Amended 6-28-2016 by L.L. No. 12-2016]

The City Council may transfer the surplus not needed in any other fund.

§ C3-5 Deposits of city funds.

[Amended 6-28-2016 by L.L. No. 12-2016]

The funds of the city shall be deposited in a commercial bank. Such depositories shall secure said deposits in excess of FDIC limits by furnishing sufficient collateral in accordance with the provisions of General Municipal Law.

§ C3-6 Payment of claims against city; itemizing, approval, audit required.

[Amended 6-28-2016 by L.L. No. 12-2016]

A. No demand against the city for money shall be paid, unless itemized in writing. Invoices or other written demands may be paid only when validated by at least two signatures. One signature shall be that of the City Controller upon audit of such invoice or demand for payment. The second signature shall be that of the department head to whom the material and/or services are furnished. The department head’s signature shall indicate that the expenditure was properly authorized and in keeping with approved procedure and that the material or service has been received.

B. For the purposes of this section, a department head shall be any person reporting directly to the Mayor. All approved demands shall be submitted to the Controller for audit, review and payment as shall be directed by the Controller.