Goals
- Promote accountability and responsibility for financial activities and assets;
- Ensure legal use of public funds;
- Maintain public trust;
- Promote strong internal controls;
- Establish a framework for financial operations without limiting; management discretion or independence;
- Improve the quality, accuracy, and timeliness of the city’s financial reports in compliance with Generally Accepted Accounting; Principles (GAAP), and the Governmental Accounting Standards Board (GASB); and
- Provide management with financial data that is timely, accurate, and understandable.
Responsibility
It is the responsibility of the Expending Authority to ensure compliance with these rules. The Expending Authority may delegate signature authority for individual transactions, but not the ultimate responsibility for compliance with these rules.
Applicability
These rules apply to all Expending Authorities and all officers and employees of the city.
Authority
Charter, Sections 2.2.10 and 2.5.3 Revised Municipal Code, Section 20-119 et. seq.