City Council:
AN ORDINANCE 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 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 Council consideration a comprehensive Finance Policy and Procedures Document, together with additional policies intended to enhance fiscal controls, operational consistency, and accountability; 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 a...
Click here for full text