The standing Committee on Finance shall exercise a general supervision
over the affairs of the Finance Department. It shall ascertain the
condition and needs thereof; shall, from time to time, report the
same to the Mayor and Village Board so that a full understanding thereof
shall be had and generally; and shall do all the acts necessary to
promote the efficiency of the department.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. I)]
The Treasurer shall be appointed for a two-year term by the Mayor with the advice and consent of the Village Board and shall serve until a successor is appointed and has qualified. All vacancies shall be filled in the manner prescribed for the Village Clerk in Article
II, Vacancies in Office, of this chapter. (65 ILCS 5/3.1-30-5)
The Village Treasurer shall receive all monies belonging to
this Village and shall pay all warrants signed by the Mayor and countersigned
by the Village Clerk and not otherwise; and shall keep a separate
account of each fund or appropriation and the debits and credits belonging
thereto. The Treasurer shall give to every person paying money into
the Village Treasury a receipt therefor, specifying the date of payment,
and upon what account paid, and shall file copies of such receipts
with the Clerk with the monthly reports. (65 ILCS 5/3.1-35-40)
The Treasurer shall keep a register of all warrants redeemed
and paid, showing the number, date, and amount of each, the fund from
which paid, and the name of the person to whom and when paid; and
the Treasurer shall cancel all warrants as soon as they are redeemed.
(65 ILCS 5/3.1-35-40 and 5/3.1-35-45)
The Village Treasurer shall keep all money belonging to the municipality
and in the Treasurer's custody separate and distinct from the Treasurer's
own money and shall not use, either directly or indirectly, the municipality's
monies or warrants for the personal use and benefit of the Treasurer
or of any other person. Any violation of this provision shall subject
the Treasurer to immediate removal from office by the corporate authorities,
who may declare the Treasurer's office vacant. (65 ILCS 5/3.1-35-55)
The Treasurer shall give bond conditioned upon the faithful
performance of his duties and to indemnify the Village for any loss
due to neglect of duty or wrongful act on his part; and the amount
of such bond shall not be less than 10% of the highest amount of taxes
and special assessments received by the Treasurer during any fiscal
year in the preceding five fiscal years, nor less than 1 1/2
times the largest amount which the Board estimates will be in his
custody at any one time, nor less than three times the number of residents
of the Village, as determined by the last Federal Census. Such bond
shall be filed with the Clerk as required by statute. (65 ILCS 5/3.1-10-45)
The Treasurer shall collect all payments on special assessments
and shall see to it that the same are properly recorded and credited
to the particular account entitled thereto. (65 ILCS 5/3.1-35-85)
The Treasurer shall keep the books and accounts in such a manner
as to show with accuracy all monies received and disbursed for the
Village, stating from whom and on what account received, and to whom
and on what account paid out, and in such a way that the books and
accounts may be readily investigated and understood, and the books
and accounts and all files and papers of the office shall be, at all
times, open to examination by the Mayor or the Finance Committee of
the Board. (65 ILCS 5/3.1-35-40)
The Treasurer shall report to the corporate authorities, at
the regular monthly meeting, a full and detailed account of all receipts
and expenditures of the municipality as shown by his books up to the
time of the report. (65 ILCS 5/3.1-35-45)
It shall be the duty of the Treasurer to report to the Village
Clerk any officer of the Village authorized to receive money for the
use of the Village who may fail to make a return of the monies received
by the Treasurer at the time required by law or by ordinances of the
Village.