City Council:
AN ORDINANCE AUTHORIZING THE
ADOPTION OF A COMPREHENSIVE
FINANCE POLICY AND PROCEDURES
DOCUMENT AND RELATED FINANCIAL
POLICIES FOR THE CITY OF MOUNT VERNON
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 governing the organization and administration of fiscal operations; and
Whereas, such authority includes defining financial roles, responsibilities, and levels of authority for 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 financial procedures were implemented to support ongoing operations, and the City has formally adopted and maintained the following policies: Investment Policy, Fund Balance Policy, Debt Management Policy, and Travel and Expense Policy; and
Whereas, the Comptroller has recommended the adoption of a comprehensive Finance Policy and Procedures Document, together with additional policies designed to enhance fiscal controls, standardize financial practices, and improve operational efficiency; and
Whereas, the proposed policies include: Cash Management - Cash Receipts Policy; Journal Entry Policy and Procedures; Electronic Funds Tran...
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