City Council:
AN ORDINANCE APPROVING AND ADOPTING
THE FINANCE POLICY AND PROCEDURES
DOCUMENT AND RELATED FINANCIAL POLICIES
(COMP2026-06)
Whereas, in correspondence dated April 15, 2026, the Comptroller formally requested authorization to approve and adopt the comprehensive Finance Policy and Procedures Document, as submitted by the Office of the Comptroller, which shall serve as the governing framework for the City's financial operations, together with the accompanying individual policy components, which shall collectively be known as the "Finance Policy and Procedures Adoption Ordinance"; 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 Office of the Comptroller 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 following policies were formally adopted and remain in effect: the Investment Policy, Fund Balance Policy, Debt Management Policy, and Travel and Expense Policy; and
Whereas, the Comptroller has submitted for adoption a comprehensive Finance Policy and Procedures Document, together with additional policy components designed to further standardize, strengthen, and enhance the City's fiscal controls and operational procedures; and
Whereas, the proposed policies support the implementation of the Corrective Action Plan (CAP) stemming from the 2021 New York State Comptroller's Audit Re...
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