East Palo Alto Municipal Code Ch. 3.20 Emergency Appropriations and Borrowing

At any time in any budget year, the governing body may, pursuant to this section, make emergency appropriations to meet a pressing need for public expenditure, for other than a regular or recurring requirement, to protect the public health, safety or welfare. Such appropriation shall be by resolution adopted by the favorable votes of at least a majority of the members of the governing body, and shall be made only upon recommendation of the budget officer. The total amount of all emergency appropriations made in any budget year shall not exceed the amount of unanticipated actual revenue in excess of the budget estimates, plus transfer from other appropriations.

(Prior code § 3-2.501)

In any budget year, in anticipation of the collection of the revenues for the budget year, but not in excess of twenty-five (25) percent of such revenue then uncollected, the governing body may by resolution borrow money and issue negotiable notes of the city.

(Prior code § 3-2.502)

The budget officer shall, within fifteen (15) days after the end of each quarter, report to the city council on the status of the various programs authorized. The report shall include a tabular statement comparing the receipts to date by source with the revenue estimate and a tabular statement indicating for each appropriation the amount originally appropriated, the amount expanded or encumbered to date, and the available balance. Within forty-five (45) days of the end of the fiscal year, sufficient copies of the final report shall be made available for the use of all offices, departments and agencies and for the use of interested persons and civic organizations.

(Prior code § 3-2.503)

All the funds, accounts and financial transactions of the city shall be subject to an annual audit by an independent certified public accountant who is to be selected by the governing authority of the city. The audit shall be conducted in accordance with generally accepted auditing standards (GAAS) promulgated by the American Institute of Certified Public Accountants. The annual audit shall be completed no later than November 25th, and shall be submitted to the city council for its review no later than December 31st.

(Prior code § 3-2.504)

Any person violating the provisions of this title shall be fined not less than one hundred dollars ($100.00) nor more than five hundred dollars ($500.00).

(Prior code § 3-2.505)