§ 1722. ACCOUNTING AND FINANCIAL REPORTING.  


Latest version.
  • The City Manager shall establish accounting records for all cash receipts, disbursements and other financial transactions of the City which conform to generally accepted accounting principles for municipalities and the requirements of State law and City ordinances. In addition to any other method of accounting prescribed by generally accepted accounting principles, the financial records and reports shall include a record of appropriations and their unencumbered balances to insure that the total of expenditures and encumbrances does not exceed the amount appropriated therefor. The City Manager shall establish an organization consisting of such divisions, officers and personnel with duties he deems necessary to develop and maintain the financial records required by this Section.