§ 106.443. Agreements to act as fiscal agent.

Upon recommendation of the Director of Finance and Administration that it will be cost-effective for the City to do so, the Mayor and Corporation Secretary may execute an agreement with:

(a)

An independent agency, or

(b)

A governmental agency outside the Consolidated Government to whose budget the City makes a contribution,

For the City to act as fiscal agent for the independent agency or other governmental agency and to perform the accounting for such agency. This agreement shall provide that:

(a)

The City will be reimbursed for its costs incurred in performing its duties under the agreement, including personal services, supplies, equipment, technical and professional assistance and storage of records.

(b)

The City will establish the accounts and records necessary to show receipts, disbursements and balances in accordance with good accounting principles and practices, plus any other accounts and records required because of special circumstances or requirements of the agency, and make such accounts and records available to the agency at its request.

(c)

The funds of the agency will be held by the City in an agency capacity only, and the agency alone will be liable for loss or misapplication of the funds, except loss or misapplication occasioned by the City or its employees.

(d)

The City will disburse agency funds in accordance with the approved agency budget, as it may from time to time be changed, using City checks indicating the agency relationship.

(Ord. 83-591-400, § 1; Ord. 84-1281-764, § 2; Ord. 2016-140-E , § 16)

Editor's note

Ordinance 2007-839-E, § 18, authorized updated department/division names pursuant to reorganization.