Description: AGENDAHED.JPG

Item No:              5H.

 

Meeting Date:     April 22, 2013

 

From:                    William Spinelli, Director of Finance, CPA

 

Subject:                Resolution adopting a Cash Management Policy to govern the receipt,       handling, posting, and other aspects of cash and cash equivalents received by City personnel

______________________________________________________________________________

Staff Recommendation:

Interim City Manager and the Finance staff recommend adoption of the proposed Resolution adopting the City of Leesburg Cash Management Policy.

 

Analysis:

The collection and control of cash at the City of Leesburg are very important functions.  The Finance Department is the City’s primary cash handling agent.  Ideally, from a control perspective, the collection and controlling of cash should be centralized in one location; however it is not always possible or practical.  As a result, the collection of money is, for the most part, decentralized. 

 

The purpose of this City of Leesburg Directive and Procedures is to provide direction for the management of cash for City departments.  Department heads and managers of divisions that collect the City of Leesburg funds remain primarily responsible for ensuring that adequate control procedures are in place to secure the City collections and funds.  This Directive and Procedures have been established to provide a framework for guidance to establish minimum control standards for cash handling.

 

Options:

1.  Adopt the resolution proposed; or,

2.  Such alternative action as the Commission may deem appropriate

 

Fiscal Impact: 

There will be no expenses incurred as a result of adoption of this policy.

 

Submission Date and Time:    4/17/2013 6:31 PM____

Department: ______________________

Prepared by:  ______________________                     

Attachments:         Yes____   No ______

Advertised:   ____Not Required ______                      

Dates:   __________________________                     

Attorney Review :       Yes___  No ____

                                                

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. __________________                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager ___________________

 

Account No. __N/A____________

 

Project No. ___________________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________


RESOLUTION NO. _________________

 

RESOLUTION  OF  THE CITY  COMMISSION  OF  THE  CITY  OF

LEESBURG, FLORIDA, ADOPTING A CASH MANAGEMENT POLICY TO GOVERN THE RECEIPT, HANDLING, POSTING AND OTHER ASPECTS OF CASH AND CASH EQUIVALENTS RECEIVED BY CITY PERSONNEL; PROVIDING A SAVINGS CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

 

      BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

 

      THAT the attached Cash Management Policies and Procedures are hereby adopted as the official policy of the City of Leesburg to govern and regulate how City Personnel are to receive, handle, post and otherwise deal with cash and cash equivalents (such as but not limited to checks, debit and credit card payments), and to designate the officials authorized to enforce and administer the policy. Henceforth this policy shall be followed by all City personnel when receiving and accounting for any payments which fall within its scope.

 

      If any portion of this policy is held to be invalid for any reason than to the extent it is possible to do so without destroying the overall intent, purpose and effectiveness of the policy, the invalidated portion shall be e severed and the remainder of the policy shall continue in full force and effect. This policy shall become effective immediately upon its adoption, and shall remain in effect until it is amended or repealed by the City Commission.

 

      PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at its regular meeting on the _22nd____ day of ____April _ , 2013.

 

                                                                                                                                          THE CITY OF LEESBURG, LORIDA

 

 

 

                                                                        BY: _________________________________

                                                                                    DAVID KNOWLES, Mayor

 

 

 

Attest: ____________________________________

                     BETTY M. RICHARDSON, City Clerk