City Council:
AN ORDINANCE AUTHORIZING THE
ADOPTION OF A COMPREHENSIVE
FINANCE POLICY AND PROCEDURES
DOCUMENT AND RELATED FINANCIAL
POLICIES FOR THE CITY OF MOUNT VERNON
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 governing the organization and administration of fiscal operations; and
Whereas, such authority includes defining financial roles, responsibilities, and levels of authority for 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 financial procedures were implemented to support ongoing operations, and the City has formally adopted and maintained the following policies: 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, standardize financial practices, and improve operational efficiency; 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 support the implementation of the Corrective Action Plan developed in response to the 2021 Audit Report issued by the New York State Comptroller and are intended to promote transparency, accountability, and sound financial management; and
Whereas, the Comptroller has further recommended that all financial policies 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 and may be cited 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, as submitted by the Office of the Comptroller, which shall govern the financial operations of the City of Mount Vernon.
Section 3. Adoption of Additional Policies. In addition to previously adopted policies, the City Council hereby approves and adopts the following financial policies and procedures:
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
These policies shall be incorporated into the City’s overall financial management framework.
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. Implementation and Administration. The Comptroller is hereby authorized and directed to implement, administer, and enforce all policies adopted pursuant to this Ordinance, including the issuance of any necessary procedures, guidelines, or administrative directives consistent with Section 91 of the City Charter.
Section 6. Annual Review. All financial policies adopted herein shall be reviewed by the Office of the Comptroller at least annually, or more frequently as necessary, and any recommended amendments shall be submitted to the City Council for consideration.
Section 7. 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.
Section 8. Effective Date. This Ordinance shall take effect immediately upon adoption by the City Council.