TREASURER

Los Angeles Administrative Code div. 20, ch. 5.1, art. 1

in effect

Los Angeles Administrative Code § 20.80 City Treasury.

Sec. 20.80. City Treasury. (a) The official depository of the City shall be known as the City Treasury, which shall be under the direction and control of the Treasurer, who shall be the chief administrative officer of the City Treasury. In addition to the powers and duties of the Treasurer as provided in Charter Section 301, the Treasurer shall maintain a modern system of accounting, which shall at all times show the balance in the various funds and accounts of the City government, as created by ordinance or otherwise. (b) Pursuant to Charter Section 514, all of the powers, duties and functions of the City Treasury as set forth in Charter Sections 301 through 303, Chapter 5.1, Article 1, Division 20 of this Code, and other provisions of applicable law, are hereby transferred to the Office of Finance. In addition, all of the powers, duties and functions of the City Treasurer as set forth in Charter Sections 301 through 303, Chapter 5.1 of Article 1, Division 20 of this Code, and other provisions of applicable law, are hereby transferred to the Director of Finance, who is authorized to act as, and with the title of, City Treasurer or Director of Finance as required or called for in the exercise of those respective powers, duties and functions. (c) The powers, duties and functions described in Subsections (a) and (b) of this Section are transferred to the Office of Finance pursuant to Charter Section 514, and the transfers shall be operative on July 1, 2011. Personnel, funds and equipment to perform those powers, duties and functions will be provided in the City Budget or any amendment thereto by appropriate action of the City Council and Mayor. It is the intention of City Council to transfer to the Office of Finance all positions which currently exist in the Office of the Treasurer whose duties and responsibilities consist of performing the powers, duties and functions that are transferred by this Section, and which the Council determines to be required by the Office of Finance. It is also the intention of the City Council that all positions transferred to the Office of Finance be filled with personnel who occupy those positions at the time of the transfer. SECTION HISTORY Based on Charter, Sec. 58. Section Repealed by Ord. No. 173,337, Eff. 7-10-00, Oper. 7-1-00. New Article 2 and Section Added by Ord. No. 173,337, Eff. 7-10-00, Oper. 7-1-00. Amended by: In Entirety, Ord. No. 175,297, Eff. 7-28-03; In Entirety, Ord. No. 181,774, Eff. 8-17-11.

Los Angeles Administrative Code § 20.85 Procedure for Receipt and Disbursement of Money.

Sec. 20.85. Procedure for Receipt and Disbursement of Money. Warrants not presented to the Treasurer within two years after their issuance shall be null and void. When warrants presented to the Treasurer within two years after their issuance have all the signatures thereon, as required by law, and are countersigned by the Controller, as elsewhere in the Charter provided, it shall be prima facie evidence of the legality of such warrants, provided that the Treasurer may, in the event of the authenticity of any warrant being questioned, fully investigate and satisfy themself regarding the same before paying. The Treasurer shall receive no money into the City Treasury unless accompanied by a written authorization from the Controller for such deposit, as elsewhere in the Charter provided. The Treasurer shall issue receipts for such deposits in triplicate, one to be delivered to the person making the deposit, one to be delivered to the Controller at the close of each business day, and one to be filed in the records of the office of the Treasurer SECTION HISTORY Added by Ord. No. 173,337, Eff. 7-10-00, Oper. 7-1-00.

Los Angeles Administrative Code § 20.86 Detailed Statement Required on Receipts and Disbursements.

Sec. 20.86. Detailed Statement Required on Receipts and Disbursements. The Treasurer shall file with the Controller, at the end of each business day, a detailed statement, accompanied by vouchers, showing the receipts and disbursements credited or debited to each respective fund or account, and shall receive from the Controller a receipt therefor. SECTION HISTORY Added by Ord. No. 173,337, Eff. 7-10-00, Oper. 7-1-00.

Los Angeles Administrative Code § 20.90 Annual Investment Policy and Monthly Reports.

Sec. 20.90. Annual Investment Policy and Monthly Reports. (a) The Treasurer shall annually render to the City Council a statement of investment policy. (b) The Treasurer shall render a monthly report to the Mayor and City Council showing the type of investment, institution, date of maturity amount of deposit, current market value for all securities with a maturity of more than 12 months, rate of interest, and such data as may be required by the City Council. (1) The monthly report shall state its relationship to the statement of investment policy. (2) In the monthly report, a subsidiary ledger of investments may be used in accordance with accepted accounting practices. (3) The monthly report shall also include any information which the Treasurer determines would demonstrate that the City’s expenditure requirements can be met in the following month. (4) The monthly report shall specify in detail investments made as set forth below: (i) Investments in repurchase agreements or reverse repurchase agreements of any securities authorized under any law of the State applicable to the City of Los Angeles, as long as the proceeds of the reverse repurchase agreement are invested solely to supplement the income normally received from these securities. Investment in a reverse repurchase agreement shall be made only upon prior approval of the City Council. For purposes of this section, the term “repurchase agreement” means a purchase of securities by the City pursuant to an agreement by which the seller will repurchase such securities on or before a specified date and for a specified amount and will deliver the underlying securities to the City by book entry, physical delivery, or by third-party custodial agreement. The transfer of underlying securities to the counterparty bank’s customer book-entry account may be used for book-entry delivery. The term “counterparty” for the purposes of this section, means the other party to the transaction. A counterparty bank’s trust department or safekeeping department may be used for physical delivery of the underlying security. The term of repurchase agreements shall be for one year or less. The term “securities”, for purpose of repurchase under this section, means securities of the same issuer, description, issue date, and maturity. The term “reverse repurchase agreement” means a sale of securities by the City pursuant to an agreement by which the City will repurchase those securities on or before a specified date and for a specified amount. (ii) Investments in financial futures or financial option contracts in any of the investment categories authorized under any law of the State applicable to the City of Los Angeles. (iii) Investment Agreements under the Securities Lending Program. Individual investments in security lending agreements made pursuant to a Securities Lending Program approved by City Council which comply with state and federal law as well as the City’s annual investment policy and guidelines are not subject to prior City Council approval. SECTION HISTORY Added by Ord. No. 173,337, Eff. 7-10-00, Oper. 7-1-00. Amended by: Subsec. (b)(4)(iii) added, Ord. 174,299, Eff. 12-10-01.

Source: City of Los Angeles, Charter and Codes (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/los_angeles/latest/laac/0-0-0-59613Fetched: 10/24/2026