§ 2-253. Cash control.

To ensure the proper accounting and safe custody of monies, the following shall apply:

(1)

Deposit of funds. All monies or fees collected for any purpose by any city officer shall be deposited through the office of the finance officer. If any said fees are due to an officer, they shall be paid to the officer by check drawn by the finance officer and approved by the council only upon such officer's making adequate reports relating thereto as required by law, ordinance or council directive.

(2)

Deposits and investments. All monies belonging to the city shall be promptly deposited in depositories as determined by resolution of the council in amounts not exceeding the authorized depository limitation established by resolution of the council or invested in accordance with the city's written investment policy adopted by resolution of the council and state law, including joint investments as authorized by I.C.A. § 384.21.

(3)

Petty cash fund. The finance officer shall be custodian of a petty cash fund not to exceed an amount as set by resolution of the council for the payment collect-on-delivery transportation charges and small fees customarily paid at the time of rendering a service for which payments the finance officer shall obtain some form of receipt or bill acknowledged as paid by the vendor or agent. At such time as the petty cash fund is approaching depletion, the finance officer shall draw a check for replenishment in the amount of the accumulated expenditures and said check and supporting detail shall be submitted to the council as a claim in the usual manner for claims and charged to the proper funds and accounts. It shall not be used for salary payments or other personal services or personal expenses.

(Prior Code, § 7.03)

State law reference

Deposit of public funds, I.C.A. ch. 12C; joint investment of funds, I.C.A. § 384.21; public funds investment standards, I.C.A. § 12B.10.