HomeMy WebLinkAboutCouncil Resolution 482RESOLUTION N0. 482
A RESOLUTION ADOPTING
GENERAL PROCEDURES
FOR FISCAL YEAR 1987 - 88
WHEREAS,. the City Council deems that is is appropriate to authorize
certain appointments and procedures relating to budget,. fiscal
management and bookkeeping matters for fiscal year 1987-88; now
therefore,
BE IT RESOLVED BY THE CITY COUNCIL. OP THE CITY OF CENTRAL POINT,
OREGON, that for the fiscal year 1987-88, the following procedures and
policies are hereby adopted:
Section 1. Appointments
A. Insurance Agent of Record. Boyce Stanard is hereby appointed
as Agent of Record for property, general liability, vehicle liability,
and bond insurance.
B. City Attorney. William G. Carter is hereby appointed as City
Attorney continuing at the rate per Council minute action of June 20,
1985.
C. Municipal Judge. Steven L. Swartsley is hereby appointed as
Municipal Judge with a retainer of $570.00 per month plus. Social
Security payments..
D. City Auditor. Gerald W. Burns is hereby appointed as City
Auditor pursuant to statutes requiring an independent fiscal audit of
the City and Contract for Audit of Oregon Municipality dated the 16th
day of July, 1987.
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6/8/87
Section 2. Designation of Depository
The Central Point branches of the Crater Bank, First Interstate
Bank of Oregon, U.S. National Bank of Oregon, and the Jackson County
Federal Savings. and Loan Association are each hereby designated as a
depository for City funds and the Finance Director or his designee may
deposit monies belonging to the City in any or each of these
institutions in accordance with applicable law until further order of
the City Council.
Section 3. Signature and Payment Authorization
The Mayor, President of the Council, and Finance Director are all
authorized as signators on depository resolutions required by depository
institutions. Any two of the above are hereby authorized to execute
checks and savings withdrawals.
Section 4. Authority to Keep, Invest, Transfer, and Expend Funds
A. The Finance Director or his designee is hereby authorized to
invest any surplus funds in accordance with ORS 294.035, in such
investments as are authorized by said statute.
B. The Finance Director or his designee is hereby authorized to
establish a petty cash imprest fund with a balance maintained at
$800.00. The Fund may be used to maintain cash drawer change funds and
provide for miscellaneous expenditures not to exceed twenty-five dollars
($25.00) per transaction, except upon the approval of the City
Administrator, a maximum expenditure of one hundred dollars ($100.00)
per transaction may be made.
C. All revenues received and all expenditures incurred by the City
in implementing the budget appropriations shall be reported to the
Council. Such reports will normally be made on a monthly basis.
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6/8/87
Section 5. Accounting Principles
The City shall maintain its financial records and books of accounts
in accordance with generally accepted accounting principles, state and
federal laws. Generally accepted accounting principles have been
defined by Governmental Accounting, Auditing and Financial Reporting
(GAAFR) as developed by the Governmental Finance Officers Association
and the American Institute of Certified Public Accountants.
Section 6. Interfund and Overhead Fees
Expenses incurred by one fund for the benefit of another fund may
be reimbursed in accordance with acceptable accounting procedures as
determined by the Finance Director.
Section 7. Bad Debts
The Finance Director is authorized to enter as uncollectable unpaid
bills less than $500 which are more than six (6) months overdue..
Section 8. Outstanding checks staledated at lease six (6) months
may be voided and if in the same fiscal year, be credited back to where
charged. If they are from prior fiscal years, they shall be credited to
Miscellaneous Income in the proper fund.
Section 9.
Items costing more than $500 and with a useful life of more than
one (1) year shall be capitalized.
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6/8/87
Passed by the Council and signed by me in authentication of its
passage this 17th day of July 1987.
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Mayor ~'
ATTEST:
City Representative
Approved by me this 17th day of July 1987.
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Mayor
Resolution No. 482 _G
6/8/87