City Council:
AN ORDINANCE ADOPTING THE CITY OF
MOUNT VERNON FINANCE POLICY AND
PROCEDURES DOCUMENT AND RELATED
FINANCIAL MANAGEMENT POLICIES
(COMP2026-06)
Whereas, by correspondence dated April 15, 2026, the Comptroller formally requested authorization for the City Council to adopt the Finance Policy and Procedures Document for the City of Mount Vernon, as submitted by the Office of the Comptroller, which shall establish the governing framework for the City’s financial management operations; and
Whereas, pursuant to Section 91 of the Mount Vernon City Charter, the City 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 the responsibility to define financial roles, responsibilities, and levels of authority applicable to City staff and elected officials to ensure proper fiscal management; 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, interim financial procedures were implemented to ensure continuity of operations and safeguard public funds during the development of comprehensive financial policies; and
Whereas, the City has previously adopted and continues to maintain certain foundational financial policies, including the Investment Policy, Fund Balance Policy, Debt Management Policy, and Travel and Expense Policy; and
Whereas, the Comptroller has now recommended the formal adoption of a comprehensive Finance Policy and Procedures Document, along with additional supporting policies designed to strengthen internal controls, enhance transparency, and improve financial accountability; and
Whereas, these proposed policies include, but are not limited to, 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 are designed to standardize fiscal operations, reduce risk, strengthen internal controls, and ensure compliance with applicable laws, regulations, and best practices; and
Whereas, the adoption of these policies further supports the implementation of the Corrective Action Plan (CAP) arising from the 2021 New York State Comptroller’s Audit Report; and
Whereas, the City Council recognizes the importance of periodic review of financial policies to ensure continued relevance, effectiveness, and compliance with evolving standards of governmental fiscal management;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Mount Vernon, New York as follows:
Section 1. Adoption of Finance Policy and Procedures Document. The City Council hereby adopts the City of Mount Vernon 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 management operations.
Section 2. Adoption of Individual Financial Policies. The following policies are hereby formally adopted as official financial policies of the City of Mount Vernon:
1. Investment Policy (previously adopted and reaffirmed herein)
2. Fund Balance Policy (previously adopted and reaffirmed herein)
3. Debt Management Policy (previously adopted and reaffirmed herein)
4. Travel and Expense Policy (previously adopted and reaffirmed herein)
5. Cash Management - Cash Receipts Policy
6. Journal Entry Policy and Procedures
7. Electronic Funds Transfer (EFT) Policy
8. Municipal Credit Card Policy
9. Vehicle Risk Management and Reporting Policy
10. E-ZPass Policy
Section 3. Implementation and Compliance. All City departments, agencies, boards, and officers shall comply with the policies adopted herein. The Office of the Comptroller is authorized to issue administrative guidance, procedures, and forms necessary to implement and enforce these policies.
Section 4. Review and Updates. All policies adopted under this Ordinance shall be reviewed at least annually by the Office of the Comptroller. Updates, revisions, or amendments may be recommended as necessary to maintain compliance with applicable laws, regulations, audit findings, and best practices in municipal financial management.
Section 5. Consistency with Prior Actions. All prior resolutions, ordinances, administrative directives, or interim procedures inconsistent with the provisions of this Ordinance are hereby superseded to the extent of such inconsistency.
Section 6. Severability. If any section, subsection, sentence, clause, or provision of this Ordinance is declared invalid or unconstitutional by a court of competent jurisdiction, such decision shall not affect the validity of the remaining provisions, which shall remain in full force and effect.
Section 7. Effective Date. This Ordinance shall take effect immediately upon approval by the City Council.