Accounts shall be kept by the Auditor, showing the financial
transactions of all departments of the City. Forms for all such accounts
shall be prescribed by the Auditor, with the approval of the City
Manager. Accounts shall be kept in such a manner as to show fully
at all times the financial condition of the City. The Auditor shall
furnish to the City Manager, prior to the second regular meeting of
the Council in each month, a report containing in detail the receipts
and disbursements of the City on all accounts, the expenditures made
and the obligations incurred during the preceding calendar month,
and a balance sheet showing the financial condition of the City, of
the several funds, and the total unexpended balance to the credit
of each department or appropriation account.
All the accounts of the City shall be audited annually by a
certified, independent public accountant to be chosen by the Council
and the Council at its discretion shall have included in any year
an audit of the uncollected taxes.
The Finance Director shall publish each month a statement of
the financial condition of the City. Each of the administrative officers
and boards shall annually, on such date as may be fixed by the Council,
render to the City Manager a full report of the transactions of his
or their department for the year. The City Manager shall thereafter
prepare and publish an annual report for general distribution. In
addition to a summary of the services rendered by the various departments,
the report shall show:
Not later than 90 days prior to the commencement of the next
fiscal year, the City Manager will submit to the Council budget estimates
for the ensuing fiscal year. This budget shall be compiled from detailed
information furnished by the administrative officers and boards in
a form prescribed by the City Manager and shall contain:
a.
A budget message prepared by the City Manager which shall include
a general statement as to the financial condition of the City, as
well as an explanation of the major fiscal impacts of the said proposed
budget.
b.
Itemized statement of appropriations recommended for current expenses
and for permanent improvements; with comparative statements in parallel
columns of expenditures for the current and next preceding fiscal
year. Any increases or decreases in any line item or items shall be
indicated.
c.
Itemized statement of estimated revenue from all sources other than
taxation; and a statement of taxes required, with comparative figures
from the current and next preceding year.
d.
Such other information as the Council may require.
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The budget shall be posted not later than two weeks after its
submission to the Council. The Council shall fix a time and place
for holding a public hearing upon the budget and shall give a public
notice of such hearing, which shall be at least 10 days before the
final passage of the appropriation resolve.
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Prior to the beginning of a new fiscal year, the Council shall
pass an annual appropriation resolve, which shall be based upon the
budget submitted by the City Manager and the Board of Education. The
total amount appropriated shall not exceed the estimated revenue of
the City. In the event the annual appropriation resolve is not approved
by June 30, the current fiscal year appropriation resolve modified
by the incremental change in debt service (general obligation bonds
and tax anticipation notes), the City Manager's estimated increase
in County taxes, and an adjustment for all other expenditure categories
by the increase equal to the consumer price index -urban wage earners
for the prior 12 months will be in effect until the annual appropriation
resolve is in force. The modified budget will be deemed adopted and
become the annual appropriation resolve 60 days after the end of the
fiscal year if the City Council has not passed an annual appropriation
resolve.
The City shall maintain an undesignated fund balance, or reserve
fund, equal to at least 5% of the previous year's annual appropriation,
exclusive of capital improvements expenditures on debt service, and
an amount necessary to bring the undesignated fund balance to that
percentage shall be included in each annual appropriation resolve.
While the minimum shall be 5%, as indicated above, the Council should
strive to increase the fund balance to 8 1/3% for each year.
The Council may spend from such reserve fund as it deems appropriate
and necessary to fund unforeseen or unmet needs of the City, subject
to its obligation to replenish the fund as indicated above.
There shall be included in the annual appropriation resolve
an appropriation to provide for tax abatements and uncollected taxes
in such amount as shall be recommended by the City Manager and approved
by the Council. All abatements and uncollected taxes shall be charged
to this reserve, and if at any time such reserve should be in excess
of the total uncollected taxes, tax deeds and tax liens, then such
excess shall be transferred to the reserve fund.
The borrowing of money by and for the City shall be limited
as to form and purpose by the provisions of Sections 8 and 9 of this
article. The credit of the City shall in no manner be loaned to any
individual or corporation.
Money may be borrowed, within the limits fixed by the Constitution
and statutes of the state now or hereafter applying to the City of
Augusta, by the issue and sale of bonds or notes pledged on the credit
of the City, the proceeds to be used for the acquisition of land,
the construction and equipment of buildings and other permanent public
improvements, the acquisition of equipment of a lasting character,
and the payment or refunding of bonds, notes and certificates of indebtedness
previously issued or for any other purpose for which municipalities
are or hereafter may be authorized to borrow money by general law.
No order providing for the issue of bonds shall be passed by
the Council unless it receives at least six affirmative votes, one
of which may be the Mayor. At least 10 days before passage by the
Council, public notice must be given by posting notice of the same
in two public places in the City of Augusta, and publishing the notice
in at least one daily newspaper circulated in the City of Augusta.
Whenever a bond issue is passed by the Council and presented
to the voters for ratification, the question presented to the voters
shall be accompanied on the ballot by a statement prepared by the
City Treasurer estimating the total debt service, including interest,
over the full life of each bond issue to be voted upon. The validity
of the bonds and of the voters' ratification thereof shall not be
affected by any errors in such estimate and, if the actual amount
of the total debt service for such bond issue varies from such estimate,
the ratification by the electors shall nevertheless be conclusive
and the validity of the bond issue shall not be affected by reason
of such variance.
No order or orders providing for the issue of bonds which in
the aggregate total in excess of $750,000, pledging the full faith
and credit of the City and approved by the Council in any one fiscal
year shall become effective until ratified by a majority of the voters
voting thereon at a general or special election. The provisions of
this section shall not apply to loans made in anticipation of receipts
from taxes nor in anticipation of money to be received from the state
or federal governments.
Every issue of bonds shall be payable within a fixed term of
years; if the bonds are issued in payment of indebtedness incurred
for a permanent improvement, the term of such bonds shall not exceed
the estimated period of utility of the improvement, but the declaration
of the City Council embodied in the order authorizing the issue shall
be a conclusive determination of the estimated period of utility thereof;
and the term within which all bonds shall be made payable shall in
no case exceed 30 years. Every order for the issue of bonds shall
provide for a tax levy for each year of an amount necessary to meet
the payment of the annual, serial installment of principal and interest;
and such amounts shall be included in the tax levy for each year until
the debt is extinguished.
Money may be borrowed in anticipation of receipts from taxes
during any fiscal year but the aggregate amount of such loans outstanding
at any one time shall not exceed 80% of the revenue received from
taxes during the preceding fiscal year. All such loans shall be paid
within the year out of receipts from taxes for the fiscal year in
which the loans are made. Money may be borrowed in anticipation of
money to be received from the sale of bonds to be issued, in case
such bond issue has been authorized or in anticipation of money to
be received from the state or federal governments; all such loans
shall be paid within three years and are subject to the provisions
of the laws of the State of Maine in relation thereto.
Money shall be paid out only on warrants on the City treasury
issued by the Auditor and countersigned by the Director of Finance
and Administration and the City Manager.
The Mayor and a member of Council to be designated from time
to time by the Council shall countersign the warrant on a post-issuance
basis.
The Auditor shall examine all payrolls, bills and other claims
and demands against the City, and shall issue no warrant for payment
until he finds that the claim is in proper form, correctly computed,
duly certified and legally due and payable.
The Auditor may require any claimant to make oath to the validity
of his claim, may investigate any claim, and for such purpose or purposes
may examine witnesses under oath.
The Council shall require a bond with sufficient surety or sureties,
satisfactory to the Council, from all persons trusted with the collection,
custody or disbursement of any of the public monies; and may require
such bond from such other officials as it may deem advisable; the
premium charges for the bonds to be paid by the City.
All monies received by any officer, employee or agent of the
City belonging to the City, or for or in connection with the business
of the City, shall forthwith be paid by the officer, employee or agent
receiving the monies into the City treasury, and shall then be deposited
by the City Treasurer with some responsible banking institution to
be chosen by the Council. All interest from all deposits of money
belonging to the City shall accrue to the benefit of the City.
The City Manager or a person formally designated by the City
Manager to act as the purchasing agent shall purchase all supplies.
No purchase of supplies exceeding an amount set by the Council shall
be made except through authorization of the Council.
The purchasing agent shall see to the delivery of supplies to
each officer and department to whom they belong, and take and file
receipts therefor. He shall conduct all sales of property belonging
to the City which are unfit or unnecessary for the City's use, but
only after such sales have been authorized by the Council, and subject
to such restrictions as the Council may by ordinance provide.
