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 and Reporting Policy; and E-ZPass Policy; and
Whereas, the adoption of these policies will further standardize and strengthen the City’s financial operations and internal control environment; and
Whereas, such policies support the implementation of the Corrective Action Plan (CAP) developed in response to the 2021 New York State Comptroller’s Audit Report; and
Whereas, the City Council finds that adoption of the Finance Policy and Procedures Document and associated policies is in the best interest of the City of Mount Vernon to promote transparency, accountability, and sound financial management;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MOUNT VERNON, NEW YORK, AS FOLLOWS:
Section 1. Title. This Ordinance shall be known and may be cited as the “Finance Policy and Procedures Adoption Ordinance.”
Section 2. Adoption of Finance Policy and Procedures Document. The City Council hereby adopts the comprehensive Finance Policy and Procedures Document, as submitted by the Office of the Comptroller, which shall govern the administration of the City’s financial operations.
Section 3. Adoption of Supplemental Policies. The City Council hereby adopts the following individual financial policies, which shall be incorporated into and made part of the City’s financial governance framework:
1. Cash Management - Cash Receipts Policy
2. Journal Entry Policy and Procedures
3. Electronic Funds Transfer Policy
4. Municipal Credit Card Policy
5. Vehicle Risk Management and Reporting Policy
6. E-ZPass Policy
Section 4. Continuation of Existing Policies. The following previously adopted policies shall remain in full force and effect and shall be read in conjunction with the Finance Policy and Procedures Document:
1. Investment Policy
2. Fund Balance Policy
3. Debt Management Policy
4. Travel and Expense Policy
Section 5. Authority of the Comptroller. The Comptroller is hereby authorized to implement, administer, and enforce the Finance Policy and Procedures Document and all policies adopted herein, including the issuance of rules, procedures, and guidance consistent with this Ordinance and applicable law.
Section 6. Annual Review and Updates. All policies adopted pursuant to this Ordinance shall be reviewed at least annually by the Office of the Comptroller and may be updated as necessary to ensure continued relevance, legal compliance, and effectiveness. Any material amendments shall be submitted to the City Council for approval where required.
Section 7. Severability. If any clause, sentence, paragraph, section, or part of this Ordinance shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair, or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof directly involved in the controversy.
Section 8. Effective Date. This Ordinance shall take effect immediately upon adoption by the City Council.