[Ord. No. 19-02, 4-16-2019]
A. Annual
Audit. The Board of Aldermen shall annually provide, through the City
Administrator or any other official designated by the Board of Aldermen
for this purpose, for an independent certified audit of the City's
books and records for the current fiscal year be made by certified
public accountants, experienced and qualified in municipal and governmental
auditing. Each such audit shall be conducted in conformance with generally
accepted auditing standards. The accountants shall certify as to the
correctness of the schedules contained in the audit report, and all
certified schedules shall be incorporated in an annual report of the
independent auditor.
B. Selection
Of The Financial Auditor.
1. Recommendation To The Board Of Aldermen. The financial auditor will
be selected through a competitive process, as conducted by the City
Administrator and the Budget Officer, if other than the City Administrator.
2. Approval By The Board Of Aldermen. The successful bidder will be
approved by the Board of Aldermen who shall also approve and authorize
the execution of the financial audit contract. No external financial
audit contract will exceed three (3) years in its term.
C. Audit
Reporting. The results of the annual audit will be presented to the
Board of Aldermen by the independent auditor at a regularly scheduled
or special Board of Aldermen meeting.
D. Use
Of Generally Accepted Accounting Principles. The basis of accounting
for preparation of the annual audit shall be in accordance with generally
accepted accounting principles. The financial statements will be prepared
on an annual basis in conformance with generally accepted accounting
principles unless the Board of Aldermen increases the frequency of
reporting.
The Board of Aldermen may revise, alter, increase or decrease
the items contained in the proposed budget, subject to such limitations
as may be provided by law, provided that in no event shall the total
authorized expenditures from any fund exceed the estimated revenues
to be received plus any unencumbered balance or less any deficit estimated
for the beginning of the budget year. Except as otherwise provided
by law, the Board of Aldermen shall, before the beginning of the fiscal
year, approve the budget and approve or adopt such orders, motions,
resolutions or ordinances as may be required to authorize the budgeted
expenditures and produce the revenues estimated in the budget.
After the City has approved the budget for any year and has
approved or adopted the orders, motions, resolutions or ordinances
required to authorize the expenditures proposed in the budget, the
City shall not increase the total amount authorized for expenditure
from any fund, unless the Board of Aldermen adopts a resolution setting
forth the facts and reasons making the increase necessary and approves
or adopts an order, motion, resolution or ordinance to authorize the
expenditures.
[R.O. 2004 § 130.060; CC 1978 § 22.160]
A. The Budget Officer shall prepare the City budget in accordance with
the following calendar:
1.
In September of each year, the Budget Officer will collect the
data necessary, and make preliminary revenue estimates for the coming
fiscal year. He/she will estimate expenditures for the present year,
and note expenditures and revenues for the previous two (2) fiscal
years.
2.
In September of each year, the Budget Officer will request from
each City Officer a statement of expenditures requested for the coming
fiscal year.
3.
In September of each year, the Budget Officer will review the
departmental requests and make his/her final revenue estimates for
the coming fiscal year, and will confer with department heads to discuss
these requests.
4.
In October of each year, the Budget Officer will begin assembling
the City budget.
5.
In October of each year, the Budget Officer will confer with
the Mayor, and such other officers as the Mayor may designate, for
preparation of the City budget for the next fiscal year to be submitted
to the Board of Aldermen.
6.
The budget shall be submitted to the Board of Aldermen at the
regular meeting in December.