The Municipal Administrator shall deposit all municipal funds in such banks or financial depositories as directed by the Mayor. All such deposits shall be made in the name of the Municipality of Kingston.
It shall be the responsibility of the Municipal Administrator to supervise the day-to-day administration of the municipal budget. It shall be his responsibility to initiate a system regulating and governing departmental encumbrances and expenditures of funds.
The Mayor and Administrator shall be covered by a fidelity bond in the amount of fifty thousand dollars ($50,000.) each. The Mayor may, as he deems fit, require other municipal employees or appointees to be bonded in an amount determined appropriate by the Mayor.
Until the expiration of the term of such entity or person, the Tax Collector shall continue to provide an appropriate bond to the municipality.
In accordance with Section 612 of the Charter, a three-year long-range plan for public services, capital improvements and fiscal policy shall be caused to be prepared by the Mayor. This three-year plan is not binding and can be amended at any time.