A.
The
town council is the board of finance of the town.
B.
The
town manager and finance director shall serve as the non-voting members
to the board of finance.
C.
The
mayor shall convene meetings of the board of finance, to hear the
town manager’s budget recommendations, prior to June 1 of each
year. The mayor may also convene a meeting of the board following
the completion of the audit of the town’s financial records,
or at any time he deems it necessary to review the town’s finances.
D.
The
board of finance shall designate the banks qualified to receive or
deposit money entrusted to its care.
(Ordinance 18-01 adopted 2018)
A.
Any
town officer or employee, receiving money for or on behalf of the
town, shall make a receipt, in not less than duplicate form, which
shall show the amount received, the date of payment, and the account
or reason for which payment is made. One copy shall be provided to
the person paying the money and the other copy retained by the finance
department. All receipts shall be numbered sequentially.
B.
The
finance director shall supervise the receiving, depositing, and safekeeping
of any money received by or belonging to the town.
(Ordinance 18-01 adopted 2018)
A.
No payment
of town funds shall be made, except upon a warrant of the town. A
warrant shall be signed by the mayor or another member of the town
council, authorized on the bank signature cards. In addition, the
warrant shall be countersigned by either the town manager or finance
director. The mayor may authorize an additional staff member to countersign,
as authorized on the bank signature cards, in the absence of the town
manager or finance director.
B.
The
town council has authorized the finance director to keep, in custody
for safekeeping, a facsimile signature stamp for use solely on the
payroll warrants of the town. The finance director shall provide a
copy of the payroll stubs to the mayor or town manager to review,
prior to the distribution of the warrants. The facsimile signature
stamp shall not be authorized for any other purpose.
C.
A warrant
shall state the account and account number to which the warrant shall
be charged and the name of the person to whom the warrant is payable.
D.
The
finance director shall keep a record of all warrants issued. The record
shall contain, at a minimum, the number of the warrant, the date it
was issued, the amount of the warrant, the account to which the warrant
was charged, and the name of the person to whom the warrant was issued.
(Ordinance 18-01 adopted 2018)
