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 Report; and
Whereas, the City Council finds that adoption of the Finance Policy and Procedures Document and related policies will promote transparency, accountability, and sound financial management practices within the City of Mount Vernon.
NOW, THEREFORE, 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 as the “Finance Policy and Procedures Adoption Ordinance.”
Section 2. Adoption of Finance Policy and Procedures Document. The City Council hereby approves and adopts 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.
Section 3. Adoption of Additional Financial Policies. In addition to the Finance Policy and Procedures Document, the City Council hereby approves and adopts the following policies:
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:
1. Investment Policy
2. Fund Balance Policy
3. Debt Management Policy
4. Travel and Expense Policy
Section 5. Purpose and Intent. The policies adopted herein are intended to strengthen internal controls, ensure compliance with applicable laws and regulations, improve financial oversight, and enhance the efficiency and integrity of the City’s fiscal operations.
Section 6. 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, compliance, and effectiveness, subject to approval by the City Council where required.
Section 7. Implementation. The Comptroller is hereby authorized and directed to implement the Finance Policy and Procedures Document and all policies adopted herein, and to take all actions necessary to ensure compliance by all City departments, officers, and employees.
Section 8. 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.
Section 9. Effective Date. This Ordinance shall take effect immediately upon adoption by the City Council.