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 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 Charter of the City of Mount Vernon, 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 Comptroller’s Office, with prior authorization from the City Council, has collaborated with the City’s financial advisors and external consultants to develop and strengthen the City’s financial policy framework; and
Whereas, as part of this effort, interim procedures were implemented to support ongoing operations, and the following policies were formally adopted and remain in effect: 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 and standardize financial operations; 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
• E-ZPass Policy; and
Whereas, the adoption of these policies will further strengthen internal controls, promote transparency and accountability, and ensure consistency in financial operations across all departments; and
Whereas, the proposed 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 Comptroller has advised that each policy will 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. Title. This Ordinance shall be known as the “Finance Policy and Procedures Adoption Ordinance.”
Section 2. Authorization and Adoption. The City Council hereby authorizes and adopts the comprehensive Finance Policy and Procedures Document 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
These policies shall be incorporated into the City’s official financial management framework.
Section 3. Continuation of Existing Policies. The previously adopted policies, including the Investment Policy, Fund Balance Policy, Debt Management Policy, and Travel and Expense Policy, shall remain in full force and effect unless amended or repealed by subsequent action of the City Council.
Section 4. Implementation and Administration. The Comptroller is hereby authorized and directed to implement, administer, and enforce the Finance Policy and Procedures Document and all related policies adopted herein. The Comptroller may issue additional administrative guidance consistent with this Ordinance as necessary to ensure effective implementation.
Section 5. Annual Review and Updates. All policies adopted pursuant to this Ordinance shall be reviewed at least annually by the Comptroller’s Office and updated as necessary to maintain compliance with applicable laws, regulations, and best practices. Any substantive amendments shall be presented to the City Council for approval.
Section 6. 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 directly involved in the controversy.
Section 7. Effective Date. This Ordinance shall take effect immediately upon adoption by the City Council.