SEC. 2-134. DUTIES OF THE CHIEF FINANCIAL OFFICER.
(a) The chief financial officer shall perform the following duties:
(1) Direct the cash and debt management programs of the city with authority to make the following investment and redemption decisions:
(A) Purchase, at their original sale or after they have been issued, securities that are permissible investments under state law with money that is not required for the immediate necessities of the city and as the chief financial officer determines is wise and expedient, and sell or exchange securities for other eligible securities and reinvest the proceeds of the securities so purchased.
(B) From time to time redeem the securities in which city money has been invested so that the proceeds may be applied to the purposes for which the original purchase money was designated or placed in the city treasury.
(C) Prepare a written report, at least once a year, describing the investment position of the city as of the end of the date of the report.
(2) With the approval of the city manager, and in accordance with Subsection (b), sell at the current market price shares of stock or corporate bonds received from time to time by the city as a gift, donation, or bequest or as a result of a bankruptcy proceeding; deposit the proceeds of each sale, netted after payment of any commissions and other related expenses, in the appropriate city fund; and carry out any terms of the gift, donation, or bequest.
(3) Direct the accounting function of the city and specifically:
(A) establish and maintain an adequate and efficient accounting and financial information system for the city;
(B) maintain comprehensive accounts of all real, personal, and mixed property of the city; and
(C) maintain comprehensive accounts of all receipts and disbursements of money, separating under proper headings each source of receipt and the cause of each disbursement.
(4) Prepare and transmit regular reports detailing the activities of all city departments, including but not limited to:
(A) a summary statement of the revenues and expenses of the preceding period, transmitted to the city manager, detailed as to the appropriations and funds, in such manner as to show the financial condition of the city and of such department, division, and office as of the last day of the period, reflecting the condition of each of the city funds, showing the budget appropriation, the amount expended to the date of the report, and the unexpended balance; and
(B) periodic and annual financial reports, including an annual balance sheet.
(5) Serve, or designate a person to serve, as the assessor and collector of taxes of the city and direct the assessment and collection of taxes in accordance with state law, Chapter 44 of this code, and Chapter XIX of the charter of the city, including those billing and collection functions of the city as may be provided for by contract or assigned by the city manager or ordinance.
(6) Administer the public utility franchises granted by the city.
(7) Perform such other duties as may be required by the city manager or by ordinance of the city council.
(b) The chief financial officer shall conduct any sale authorized under Subsection (a)(2) of this section as soon as is reasonably possible following receipt of the stock or corporate bonds, using the city’s financial advisor or investment advisor. The city manager is authorized to execute such documents, authorizations, assignments, and endorsements as necessary to accomplish the sale. The chief financial officer shall provide confirmation of each sale to the director of the department designated by the city manager to carry out any terms of the gift, donation, or bequest. The chief financial officer shall keep an accurate record of each sale transaction.
(c) Whenever the director of finance is referred to in the city charter, this code, or any other city ordinance, the term means the chief financial officer.
(d) Whenever the director of public utilities or the director of consumer services is referred to in a franchise granted by the city, those terms mean the chief financial officer. (Ord. Nos. 22026; 23694; 24410; 27697)
