City Council:
AN ORDINANCE AUTHORIZING THE
ADOPTION OF A COMPREHENSIVE 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, together with the following individual policy components; 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 Comptroller’s Office 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 City has formally adopted and maintained certain financial policies, including the Investment Policy, Fund Balance Policy, Debt Management Policy, and Travel and Expense Policy; and
Whereas, the Comptroller has now developed a comprehensive Finance Policy and Procedures Document, together with additional policy components intended to further standardize, strengthen, and enhance the City’s fiscal controls and operational procedures; 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, these policies directly support the implementation of the Corrective Action Plan (CAP) stemming from the 2021 New York State Comptroller’s Audit Report and promote transparency, accountability, and sound financial management practices; and
Whereas, each of the aforementioned policies shall be reviewed at least annually, or more frequently as necessary, to ensure continued relevance, compliance, and effectiveness;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MOUNT VERNON, AS FOLLOWS:
Section 1. Authorization and Adoption. The City Council hereby authorizes and adopts the comprehensive Finance Policy and Procedures Document, as submitted by the Office of the Comptroller, together with the following individual policy components:
• Cash Management - Cash Receipts Policy
• Journal Entry Policy and Procedures
• Electronic Funds Transfer Policy
• Municipal Credit Card Policy
• Vehicle Risk Management and Reporting Policy
• E-ZPass Policy
Section 2. Purpose and Intent. The purpose of this Ordinance is to establish uniform financial policies and procedures that enhance internal controls, ensure regulatory compliance, promote fiscal accountability, and support the efficient administration of the City’s financial operations.
Section 3. Implementation. The Comptroller, in coordination with all relevant City departments, is hereby authorized and directed to implement and enforce the Finance Policy and Procedures Document and associated policies adopted herein. All City officers, employees, and departments shall comply with the provisions set forth therein.
Section 4. Annual Review and Updates. The Finance Policy and Procedures Document and all associated policies shall be reviewed by the Comptroller at least annually, and updated as necessary to reflect changes in laws, regulations, best practices, or operational needs. Any substantive amendments shall be presented to the City Council for approval, where required.
Section 5. Severability. If any clause, sentence, paragraph, subdivision, 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, subdivision, section, or part thereof directly involved in the controversy in which such judgment shall have been rendered.
Section 6. Effective Date. This Ordinance shall take effect immediately upon adoption by the City Council.