There shall be a department of finance, the head of which shall be appointed by the city manager, subject to the council’s confirmation.
The director of finance shall provide a bond with a recognized corporate surety in such amount as the council may require except that such bond shall be in an amount not less than $10,000.00.
The director of finance shall have charge of the administration of the financial affairs of the city and to that end he shall have the authority and shall be required to:
(1) 
Compile the estimates of revenues and expenditure for the budget as directed by the mayor.
(2) 
Supervise and be responsible for the disbursement of all money and have control over all expenditures to ensure that budget appropriations are not exceeded.
(3) 
Maintain a general accounting system for the city government and each of its offices, departments and agencies, keep books for and exercise financial budgetary control over each office, department and agency; keep separate accounts for the items of appropriation contained in the city budget, each of which accounts shall show the amount of the appropriation, the amounts paid therefrom, the unpaid obligations against it and the unencumbered balance, require reports of receipts and disbursements from each receiving and spending agency of the city government to be made daily or at such intervals as he may deem expedient.
(4) 
Submit to the council a monthly statement of all receipts and disbursements in sufficient detail to show the exact financial conditions of the city;
(5) 
Prepare, as of the end of each fiscal year, a complete financial statement and report;
(6) 
Collect all taxes, special assessments, license fees and other revenues of the city or for whose collection the city is responsible and receive all money receivable by the city from the state or federal government, or from any court, or from any office, department or agency of the city.
(7) 
Serve as ex officio city treasurer and shall have custody of all public funds belonging to or under control of the city, or any office, department or agency of the city government, and deposit all funds coming into his hands in such depositories as shall be designated by resolution of the council, subject to the requirements of law as to surety and payment of interest on deposits, but all such interest shall be the property of the city and shall be accounted for and credited to the proper account.
(8) 
Have custody of all investments and invested funds of the city government, or in possession of such government in a judiciary capacity, and have the safekeeping of all bonds and notes of the city and the receipt and delivery of city bonds and notes for transfer, registration or exchange.
(9) 
Approve all proposed expenditures. Unless he shall certify that there is an unencumbered balance of appropriation and available funds, no appropriation shall be encumbered and no expenditure shall be made.
The director of finance may at any time with approval of the council, transfer any unencumbered appropriation balance or portion thereof between any office, department, agency, or fund. At the request of the director of finance and within the last three months of the budget year, the council may by resolution transfer any unencumbered appropriation balance or portion thereof from one office, department, agency or fund to another.
The director of finance shall have power and shall be required to:
(1) 
Prescribe the forms of receipts, vouchers, bills or claims to be used by all the offices, departments and agencies of the city government.
(2) 
Examine all contracts, orders and other documents by which the city government incurs financial obligations, having previously ascertained that moneys have been appropriated and allotted and will be available when the obligations shall become due and payable.
(3) 
Audit and approve before payment all bills, invoices, payrolls and other evidences of claims, demands or charges against the city government and with the advice of the city attorney determine the regularity, legality and correctness of such claims, demands or charges.
(4) 
Inspect and audit any accounts or records of financial transactions, which may be maintained in any office, department, or agency of the city government apart from or subsidiary to the accounts kept in his office.
All appropriations shall lapse at the end of the budget year to the extent that they shall not have been expended or lawfully encumbered.
All fees for city services received by any officer or employee belong to the city government and shall be paid forthwith to the department of finance.
The city council shall be responsible for all purchases. It shall contract for, purchase, store and distribute all supplies, materials and equipment required by any office, department or agency of the city government. It shall also be required to:
(1) 
Establish and enforce specifications with respect to supplies, materials, and equipment required by the city government.
(2) 
Inspect or supervise the inspection of all deliveries of supplies, material and equipment required by the city government and determine their quality, quantity and conformance with specifications.
(3) 
Have charge of such general storerooms and warehouses as the council may provide by ordinance.
(4) 
Transfer to or between offices, departments or agencies or sell surplus, obsolete or unused supplies, materials and equipment.
The city council may delegate part or all of those powers to one or more employees of the city.
Before the city makes any lease of any real estate or any sale or contract for the sale of any property belonging to the city having an estimated value of $500 or less either in the form of land, real estate or other properties, opportunity shall be given for open competition by posting notices of said sales in not less than three public places within the corporate limits of the city of Cameron, one of which places shall be the City Hall for a period of at least ten days prior to date of said sale.
And in all sales of property valued at more than $500.00, the property shall be advertised for sale and bids in the local newspaper, the contract of sale shall be awarded to the highest responsible bidder after such public notice and competition as may be prescribed, provided the council shall have the power to reject all bids and advertise again. These same procedures shall be used whenever the city acts as transfer agent.
Before the city makes any purchase for supplies, materials, equipment or contractual services, opportunity shall be given for competition. The city manager shall have authority to make expenditures without the approval of the council for all budgeted items not exceeding limitations set by law. All contracts or purchases involving more than the amount set by State law shall be let to the lowest bid by a responsible bidder after there has been an opportunity for competitive bidding. Notice of the time and place, when and where such contract shall be let shall be published in the official newspaper of the city of Cameron once a week for two consecutive weeks prior to the time for making such purchase or letting such contract, the time of the first publication to be at least fourteen (14) days prior to the time for making such purchase or letting such contract; provided however, that the council shall have the right to reject any and all bids; and provide further that nothing herein shall apply to contracts for professional services nor to work done by the city and paid for by the day as such work progresses.
All checks, vouchers or warrants for the withdrawal of money from the city depository shall be signed by the city treasurer, or his deputy, and countersigned by the mayor. In the absence of the mayor, checks may be countersigned by the mayor pro-tem.
In any budget year, in anticipation of the collection of the property tax for such year, whether levied or to be levied in such year, the council may by resolution authorize the borrowing of money for maintenance and operation of the city government by issuance of promissory notes of the city, each of which shall be designated “tax anticipation note for year __________,” (stating the budget year). Such notes shall mature and be payable not later than the end of the fiscal year in which the original notes shall have been issued.
In any budget year, in anticipation of the collection or receipt of other revenues of that budget year, the council may by resolution authorize the borrowing of money by the issuance of promissory notes of the city, each of which shall be designated “special revenue note for the year _____,” (stating the budget year). Such notes may be renewed from time to time, but all such notes, together with the renewals, shall mature and be payable not later than the end of the fiscal year in which the original notes shall have been issued.
All notes issued pursuant to this article may be sold at not less than par and accrued interest at private sale by the director of finance without previous advertisement, but such sale shall be authorized by the council.