Chapter 2.28 — DEPARTMENT OF FINANCE

There is established a department of finance. The functions of the said department shall include but not necessarily be limited to the following:

(1)

Maintain and operate the accounting system of the town, supervising and controlling disbursements and expenditures, including payroll, through a system of budget control;

(2)

Prepare monthly statements indicating the town's financial condition;

(3)

Prepare a complete financial statement at the end of each fiscal year;

(4)

Assist in the preparation of a preliminary proposed budget, including a summary of all anticipated revenues and expenditures;

(5)

Perform all treasury functions for the town, including but not limited to supervising and controlling (a) the collection, receipt, deposit and proper recording of moneys and (b) the investment of all idle funds;

(6)

Perform such other functions as may be assigned or delegated to the department by the town manager.

(Ord. 758 § 1, 1989: Ord. 457 § 1, 1965)

There shall be a director of finance who shall be the head of the department of finance and who shall be appointed by the town manager. The director of finance shall be the accounting officer and treasurer of the town and shall be responsible for the satisfactory performance of the functions of the department of finance. The director of finance shall have the power and duty to:

(1)

Certify to the town manager the accuracy of payroll and demands (accounts payable) upon the town and the availability of funds for payment thereof;

(2)

As directed by the town manager, either sign or countersign payroll checks and accounts payable checks;

(3)

As directed by the town manager, designate subordinates to sign or countersign payroll checks and accounts payable checks for the director of finance;

(4)

Invest the idle funds of the town in accordance with state law and town policy;

(5)

Execute a bond to the town in an amount deemed proper by the town manager;

(6)

Maintain records reflecting the financial condition of the town, and prepare and publish at the end of each fiscal year a summary statement of receipts and disbursements by departments and funds including

opening and closing fund balances in the treasury;

(7)

Perform such other duties as may be assigned or delegated by the town manager to the office of director of finance.

(Ord. 758 § 2, 1989: Ord. 695, 1981: Ord. 457 § 2, 1965)

In accordance with Section 37209 and Section 40805.5 of the Government Code of the state, the financial and accounting duties imposed upon the city clerk are transferred to the director of finance. There shall be no prohibition against the position of director of finance being occupied by another employee of the town or by an elective or appointive officer of the town.

(Ord. 457 § 3, 1965)