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FIN-2.09 - Cash Management

CASH MANAGEMENT

Binding City Policy

BCP-FIN-2.09


 

Policy

 

The City will manage its cash assets to ensure accurate records, reduce the chance of loss or theft and allow the City to maximize interest income.  OMF Bureau of Financial Services Treasury Division will ensure the accurate and timely accounting, investment and security of all cash assets, and will develop, maintain and constantly seek to improve cash management systems.  All cash received by City agencies will be deposited to Treasury accounts in accordance with Accounting Administrative Rules.

 

Only the City Treasurer is authorized to establish bank accounts for the City.

 

Responsibility

 

The Treasury Division and the Accounting Division of the Bureau of Financial Services will assist bureaus in complying with this policy.

 


HISTORY

 

Ordinance No. 181829, passed by City Council May 14, 2008 and effective July 1, 2008.