The position of Chief Financial Officer is hereby established.
The Chief Financial Officer shall be responsible for the proper financial
administration of the City under the Local Government Supervision
Act (N.J.S.A. 52:27BB-1 et seq.); the Local Bond Law (N.J.S.A. 40A:2-1
et seq.); the Local Fiscal Affairs Law (N.J.S.A. 40A:5-1 et seq.);
the Local Public Contracts Law (N.J.S.A. 40A:11-1 et seq.); and such
other statutes and such rules and regulations promulgated by the Director
of the Division of Local Government Services, the Local Finance Board,
or any other state agency, as may pertain to the financial administration
of the City.
The Chief Financial Officer shall:
A. Have custody of all investments and invested funds of the City or
in possession of the City in a fiduciary capacity, except as otherwise
provided by law, and keep such funds, and all moneys of the City not
required for current operations safely invested or deposited in interest-bearing
accounts.
B. Supervise the administration of the City debt and the receipt and
delivery of City bonds and notes for transfer, registration or exchange,
subject to provisions of the Local Bond Law (N.J.S.A. 40A:2-1 et seq.)
or other law.
C. Develop, maintain and enforce a uniform system of accounts, including
forms, standards and procedures for all departments.
D. Establish and maintain the City's central bookkeeping and accounting
records according to generally accepted accounting principles and
in accordance with the requirements of the Director of the Division
of Local Government Services.
E. Maintain accounts of all cash receipts and disbursements, and make
reports in accordance with the system of accounts approved or prescribed
by the Director of the Division of Local Government Services and prepare
a monthly statement of all moneys received and expended, and of the
unexpended and unencumbered balance in each account for the City Council,
Mayor, Business Administrator and the general public.
F. Review each proposed expenditure and commitment to be made on behalf
of any department for conformity with state law and City ordinances
and authorize only such expenditures and commitments, including claims,
bills and demands, so as to conform to all requirements of the Administrative
Code in accordance with N.J.S.A. 40:69A-48.
G. Audit all receipts and disbursements of the City and preaudit all
bills, claims and demands, including payroll upon the City.
H. Control all expenditures to assure that budget appropriations are
not exceeded and maintain such books and records as may be required
for the exercise of budget control, including an encumbrance system
of budget operations and expenditures only upon written requisition
in accordance with N.J.S.A. 40:69A-48.
I. Provide specific notification to the Business Administrator, Mayor
and Council when conditions arise which may reveal insufficient funds
in any account balance or which may lead to or result in audit discrepancies
or comments.
J. Make disbursements of City funds with every warrant check made payable
to the order of the person entitled to receive the same and specify
the purpose for which it is drawn, and the account or appropriation
to which it is chargeable and shall bear such signature as are required
by the Administrative Code.
K. Prepare any records, reports, studies or schedules requested by the
Mayor, Business Administrator or City Council, including reports for
the preparation of the budget or the determination of the cost of
performance of each program or activity, measured in such work units
as may be appropriate thereto.
L. Perform such other duties and responsibilities as required for the
proper administration of the City's finances in accordance with the
statutes and code.
The Chief Financial Officer shall prepare for each regular meeting
of City Council a list of all bills, claims and vouchers which have
been received in a timely fashion since the last preceding list was
compiled. No bills shall be paid except for the payroll until the
listing of bills has been approved by the resolution of City Council.