City Council:
AN ORDINANCE AUTHORIZING THE
ADOPTION OF A COMPREHENSIVE FINANCE
POLICY AND PROCEDURES DOCUMENT AND
RELATED FINANCIAL POLICIES - (COMP2026-06)
Whereas, in correspondence dated April 15, 2026, the Comptroller formally requested authorization to adopt the comprehensive Finance Policy and Procedures Document, as submitted by the Office of the Comptroller, together with the following individual policy components; and
Whereas, pursuant to Section 91 of the Mount Vernon City Charter, the Comptroller is charged with the supervision of the City's financial affairs and is authorized to establish rules, regulations, and general practices for the organization and administration of fiscal operations; and
Whereas, such authority includes defining the financial roles, responsibilities, and levels of authority of City staff and elected officials; and
Whereas, the City Council previously authorized the Comptroller's Office to collaborate with the City's financial advisors and external consultants to develop and strengthen the City's financial policy framework; and
Whereas, as part of that effort, interim procedures were implemented to support ongoing operations, and the City has formally adopted and maintained certain financial policies, including the Investment Policy, Fund Balance Policy, Debt Management Policy, and Travel and Expense Policy; and
Whereas, the Comptroller has now developed a comprehensive Finance Policy and Procedures Document, together with additional policy components intended to further standardize, strengthen, and enhance the City's fiscal controls and operational procedures; and
Whereas, the proposed policies include: Cash Management - Cash Receipts Policy, Journal Entry Policy and Procedures, Electronic Funds Transfer Policy, Municipal Credit Card Policy, Vehicle Risk Management and Reporting Policy, and E-ZPass Policy; and
Whereas, these policies directly support the implementation of the...
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