Culver City Municipal Code Art. XVI Financial and Fiscal Matters

The fiscal year of the City government shall begin on the first day of July of each year and end on the thirtieth day of June of the following year; provided, however, that the City Council may, by a vote of at least four-fifths of its members, adopt an ordinance changing the City's fiscal year.

Unless otherwise provided by ordinance, the City shall continue to use, for the purpose of ad valorem municipal taxation, the County system of assessment and tax collection, as such system is now in effect or may hereafter be amended and insofar as such provisions are not in conflict with this Charter.

If the City Council fails to fix the rate and levy taxes on or before August 31st in any year, the rate for the next preceding fiscal year shall thereupon be automatically adopted and a tax at such rate shall be deemed to have been levied on all taxable property in the City for the current fiscal year.

Exclusive of special levies permitted by this Charter, the City Council shall not levy a property tax in excess of one percent of the assessed value of taxable property in the City for municipal purposes, unless authorized by a two-thirds vote at a City election.

There shall be levied and collected at the time and in the same manner as other property taxes for municipal purposes are levied and collected as additional taxes, if no other provision for payment thereof is made:

(a) A tax sufficient to meet all liabilities of the City for principal and interest of all bonds or judgments due and unpaid, or to become due during the ensuing fiscal year; and

(b) A tax sufficient to meet all obligations of the City to the Public Employees' Retirement System, or other system for the retirement of City employees due and unpaid or to become due during the ensuing fiscal year.

Special levies, in addition to the above, may be made annually, based on City Council approved estimates, for specific purposes as may be approved by the City Council. The proceeds of any such special levy shall be used for no other purpose than that specified.

The bonded indebtedness of the City may not exceed the sum of 15 percent of the total assessed valuation of all the real and personal property within the City.

The City Council shall, from time to time, establish, by ordinance, procedures to ensure the integrity of awarding all contracts for the construction or improvement of public works, buildings, streets, drains, sewers, utilities, parks and playgrounds. Subject to such exceptions as the City Council may establish, these procedures shall call for soliciting multiple bids for all contracts. The procedures shall be reviewed periodically by the City Council at a public hearing.

The City Council may award a contract without complying with the procedures then in place by a vote of at least four-fifths of its members after a public hearing.

This Charter has been enacted for the collective benefit of the People of the City of Culver City, and is not intended to confer legal rights or remedies upon individual persons or entities that elect to do business with the City. In furtherance of this intention, it is specifically declared that no contractor, person or entity shall be entitled to bring any legal or equitable action against the City alleging that the City failed to perform its obligations under this section or under any ordinance enacted to establish the procedures for awarding public works contracts. Nothing in this paragraph shall prohibit or restrict the City from adopting ordinances or entering into contracts that grant legally enforceable rights to one or more contractors, persons or entities.

The City Council shall establish procedures for the purchasing, storing and distribution of all supplies, materials and equipment required by any City department. The City Manager shall direct the implementation of such procedures for all City departments.

The City Council shall maintain sufficient cash reserves for the purpose of placing the payment of operating expenses of the City on a cash basis. The reserves shall be built from any available sources, and in combination with anticipated revenues shall be sufficient to meet all lawful demands against the City. Transfers may be authorized by the City Council from one fund to another fund or funds in such amounts as may be required to place those funds as nearly as possible on a cash basis. In case of such transfers, monies shall be returned to the fund from which they were transferred as they become available.

The funds for capital improvements, previously created, are hereby continued in existence. The City Council by ordinance may create a special fund or funds for a special capital improvement purpose. Subject to the restrictions of the Constitution, the City Council may levy and collect taxes for capital improvements and may include in the annual tax levy a levy for such purposes in which event it must apportion and appropriate to any such fund or funds the money derived from such levy. It may not, in making such levy, exceed the maximum tax rate provided for in this Charter, unless authorized by majority vote at a City election. The City Council may transfer to any such fund any unencumbered surplus funds remaining on hand in the City at any time.

Once established, such fund shall be restricted to only the purposes for which it was created, unless the assent of the voters is expressed to the use of such fund for some other purpose by majority vote at a City election.

No suit may be brought on any claim for money or damages against the City, the City Council, or any City commission, board, committee, officer or employee until a claim has been presented and rejected in whole or in part in accordance with procedures adopted by the City Council for the regulations of claims, subject to the provisions of State law.

At the beginning of each fiscal year, the City Council shall employ an independent, certified public accountant or firm of such accountants who, at such time or times as may be specified by the City Council, shall examine the books, records, inventories and reports of the City and of all officers and employees of the City who receive, handle or disburse public funds and of all such other City officers, employees and departments as the City Council may direct. As soon as practicable after the end of the fiscal year, a final audit and report shall be submitted by such accountant or firm to the City. Copies of such audit and report shall be provided to each Council Member; and copies shall be placed on file in the office of the City Clerk and made available for inspection by the general public. Such accountant or firm shall have no direct or indirect personal interest in the fiscal affairs of the City or of any of the officers of the City.