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2012-34 Accounting Policies & Procedures Manual AmendmentRESOLUTION 2012 -34 • A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDING THE ACCOUNTING POLICIES AND PROCEDURES MANUAL FOR INTERNAL CONTROLS TO ADD A NEW DEBT POLICY AND REVISE THE SECTIONS RELATING TO DEPARTMENT PROCEDURES AND PAYMENT; PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, through the adoption of Resolution 2011 -19 on May 12, 2011, the Village Council adopted a revised and updated Accounting Policies and Procedures Manual for Intemal Controls ( "Manual "); and WHEREAS, based on recommendations from the Audit Committee and the Village Auditor, Village Administration recommends amending the Manual to: (1) delete the Miscellaneous section and replace it with a new Debt Policy; (2) revise the Department Procedures section to reflect current procedures and software; and (3) revise the Payment section to incorporate a portion deleted from the Miscellaneous section; and WHEREAS, the Village Council determines that the adoption of the amendments to the Manual is in the best interests of the residents and citizens of the Village of North Palm Beach. NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA as follows: Section 1. The foregoing recitals are hereby ratified and are incorporated herein. Section 2. The Village Council hereby revises the Accounting Policies and Procedures Manual for Intemal Controls by deleting the Miscellaneous section, adopting a Debt Policy, and revising the Department Procedures and Payment sections. Copies of the revisions are attached hereto and incorporated herein by reference. Section 3. All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 4. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED THIS 26th DAY OF A] e r ATTEST: VILLAGE CLERK �- Debt Policy Under the governance and guidance of Federal and State laws and the Village's Charter, Ordinances and Resolutions, the Village may periodically enter into debt obligations to finance the construction or acquisition of infrastructure and other assets or to refinance existing debt for the purpose of meeting its governmental obligation to its residents. It is the Village's desire and direction to assure that such debt obligations are issued and administered in such fashion as to obtain the best long -term financial advantage to the Village and its residents. The Village hereby establishes the following policies concerning debt: • The Village Charter and the Constitution of the State of Florida do not provide for a legal debt limit. However, in making or providing of capital improvements, the Village shall not incur a general obligation debt requiring the full faith and credit and taxing power of the Village that exceeds five percent (5 %) of the property tax base of the Village. • The Village will analyze the impact of debt service on total annual fixed costs before any long- term debt is issued. • Any loan obligation over $500,000 shall require review and comment by the Village's Audit Committee prior to Council action. • The Village will not use proceeds from long -term debt for current, on -going operations. Long- term borrowing will be confined to capital improvements too large to be financed from current revenues. • The Village will utilize the form of borrowing that is most cost - effective, including not just interest expense but all costs, including upfront costs, administrative and legal expenses, prepayment penalties, and reserve requirements. Departmental Procedures Finance Department Payments are received through the mail and via electronic funds transfer (EFT /ACH) from various sources. Deposit slips are prepared by an Accounting Clerk, and checks are deposited in the bank daily by a courier (Public Safety Officer). Any payments received during the day, which are not to be deposited in the bank, are kept in the secured area until the deposit is made. A daily deposit sheet is prepared listing payments received. These receipts are identified by type and coded by the Accounting Clerk. All deposits are posted to the general ledger (cash, revenue or other account as applicable). A copy of any support documentation is scanned and filed within the customer folder, along with a validated copy of the deposit slip. The Finance Director and Finance Manager periodically review the reports and deposit records Village Clerk The Village Clerk's Office receives payments for copies of public records, zoning maps, code supplements, lien certifications, donations, and code enforcement fines /liens. A receipt is generated for each transaction, with one copy to the purchaser, one copy to the bank bag, and one copy remains in the receipt book in the Clerk's office. A bank deposit is prepared as needed by the Administrative Assistant and verified by the Deputy Village Clerk or Village Clerk. The bank deposit form specifies the total received for each of the Clerk's revenue line items. The cash, checks, and deposit form are sent to the Finance Department for processing. Public Safety Public Safety receives payments for special details, copies of reports, fingerprinting, new alarms, false alarms, alarm permit renewals, water restrictions, parking violations, and bicycle registrations. A receipt is generated for each transaction. A bank deposit is prepared as needed. The bank deposit form specifies the total received for each of the department's revenue line items. The cash, checks, and deposit form are sent to the Finance Department for processing. Public Works The Public Works Department receives payments for refuse collection, project plans & specification documents, and vegetation debris ordinance fees. A bank deposit is prepared as needed. The bank deposit form specifies the total received for each of the department's revenue line items. The cash, checks, and deposit form are sent to the Finance Department for processing. Library The Library receives payments and issues receipts for fines, lost/damaged books, memberships, library cards, faxes, copies, donations, etc.. A bank deposit is prepared as needed. The bank deposit form specifies the total received for each of the department's revenue line items. The cash, checks, and deposit form are sent to the Finance Department for processing. The Library also collects money for the Friends of the Library. These monies are turned over to the Treasurer of the Friends at their convenience. Community Development Department Building Division All applications for building permits, business tax receipts, revisions, and contractor and non - domicile registrations are submitted to the Building Division. Staff verifies the application/registration information and determines the applicable fee(s). Staff then enters appropriate information into the computer system. Partial payment is due at the time of submittal. A receipt is issued to customers when fees are received. State fees, Palm Beach County impact fees and remaining Village fees will be collected upon issuance when applicable. Staff distributes the application to the appropriate personnel (e.g. Building Official, Fire Chief, Planner, etc.) for plan review. After all necessary approvals are completed, the information is updated in the computer system and the applicant is notified. Planning and Zoning Any land use, rezoning, variance, or plat applications are submitted to the Community Development Director for processing along with all estimated filing fees affiliated with the project. The Planner then reviews and verifies all information for accuracy and enters the information into the MUNIS software (which assigns each project a unique project identification number). The Planner sets up an account with the Finance Department for each assigned project number to track any /all account receivables and/or payables for that project. The Planner submits a batch report to Finance with the deposit. Cash, checks and the batch report are placed in a locked deposit bag and sent to the Finance Department at the end of the day. Prior to final approval of the project, the project account is reconciled. If the actual costs exceed the project deposit, the developer is required to pay the balance prior to final approval. If the deposit amount exceeds the actual cost, the balance is refunded to the applicant. Code Compliance Payments received for abandoned property and/or abatement fees are entered into the computer system. All checks and cash are processed by the Code Compliance Officer as part of their daily deposit procedure. Code enforcement liens are collected and received and processed by the Village Clerk's Office. Preparing the Daily Deposit Prior to the end of their shift each day, each Permit and Licensing Technician, Code Compliance Officer and Planner generate a batch report from the computer system summarizing all of the day's transactions. Each individual reconciles their drawer, and prepares the necessary reports for the cash and checks received. These are submitted to the supervisor for approval. All cash, checks, and batch reports are placed in a locked deposit bag and sent to the Finance Department at the end of the day. Recreation Department Registrations All registrations are taken at the Anchorage Park Facility. Staff verifies registration information, including resident/non- resident status. Staff rings all transactions through the RecTrac system. Monies are placed in a deposit bag and dropped into the safe at the end of the evening. Checks and cash are totaled and compared to amounts on the Cash Journal that is printed out. Cash, checks, receipts, and cash journal tape are all placed in a locked deposit bag and sent to the Finance Department. Tennis Shop Every sale is entered into the RecTrac POS system and a receipt is given to the customer A roster of all members is maintained in the Tennis Shop for reference, although all members should have a membership card with them. Closing Procedures are completed by the employee in charge of the cash register. 1. The cash register is closed out at the end of each day. 2. A Cash Journal is printed from the system which summarizes the clerks' monies for the day. The employee completes the balance sheet indicating the amount of cash and checks received. 3. The money and the Cash Journal are put in a locked deposit bag and stored in the safe until pickup the neat morning to go to the Finance Department. Pool Shop The Pool maintains a daily log -in sheet for members and non - members. The Pool Attendant turns this sheet in with the cash receipts for the day. Pool Director Coaches sell merchandise in the shop. This merchandises is NOT Village property, or Village sales or receipts. Receipts are generated in triplicate for such purchases of merchandise and are distributed as follows: White - - -- customer copy Yellow - -- coach's copy when charged to a member's account Pink - - - - -- remains in the shop Closing procedures are completed by the employee in charge of the cash register: 1. The cash register is closed out at the end of each day. 2. A Cash Journal is printed and the clerk completes a balance sheet indicating the amount of cash and checks received. 3. The money and the Cash Journal are turned into the Golf Shop Administration Office and stored in their safe until pickup the next morning to go to the Finance Department. Country Club There are four cash registers on the club premises: 1. Golf Pro Shop (2) 2. Restaurant (2) The Golf Shop registers produce three tapes, one for the customer, one for the starter, and one for the Village. The registers at the Restaurant produce two receipts, one for the customer and one for the Village. All Country Club receipts are forwarded to the Finance Department. Each cash register has its own specific procedures for closing out the register, which will be described separately below: Golf Pro Shop Every sale is entered into the Golftrac POS system and each receipt is generated in triplicate. The receipts are distributed differently depending on type of purchase: Green & Cart Fees: Merchandise: one for the drawer one for the drawer one for the starter one for the customer one for the customer At the end of the day, the cashier completes a balance sheet after reconciling to their individual Cash Journal. The cashier puts all money, receipts and the Cash Journal in a bank deposit bag which is placed in a locked night deposit safe and forwarded to the Finance Department the neat morning. Driving unge The money is removed daily from ball machines and entered into the GoIl Trac POS system as driving range sales. The money is deposited with the regular business. Restaurant Every sale is entered into the MICROS POS system. Each server is in charge of his/her own "bank." Closing procedures are as follows: 1. The individual "bank" is closed out at the end of each employee's shift. 2. A Cash Journal is printed out at the end of the employee's shift. The employee balances the monies being turned in with the Cash Journal. 3. The money and the Cash Journal are turned into the F & B Director to be compiled with the daily sales and placed in a locked night deposit safe. These items are then forwarded to the Finance Department the next morning. Payment Invoices a. Original vendor invoices will be sent directly to the Finance Department. b. The Finance Department will pay the invoice only if: 1. The invoice has been received by the Finance Department. 2. The Department Head must sign off on the invoice certifying that there has been a satisfactory delivery of goods or services. 3. Total quantity received per line item is equal or less than quantity ordered. An explanation is required when discrepancies exist. 4. Unit Price on invoice is the same as unit price on the purchase order. An explanation is required when discrepancies exist. 5. Extension per line item is correct. 6. Total of line item extensions is reflected by the net total on the invoice. 7. Advantage is taken of all allowable discounts. 8. Funds are available within the department's budget. Invoice Retirement a. Check is issued to vendor, signed by the appropriate authorized individual(s). b. Original invoice is marked "PAID". c. The "PAID" invoice, any other necessary supporting documentation, and the remittance copy of the check are attached to the purchase order and filed. Check Requests a. Department Head may request checks on prescribed forms for: 1. Travel 6. Donations 2. Training 7. Contributions 3. Subscriptions 8. Contract Labor 4. Reimbursements 9. Independent Contractors 5. Petty Cash 10. Etc. b. All check requests that are submitted for payment should include supporting documents and are subject to follow terms and conditions of accounting policies and procedures. Telephone and Utility Bills All Village telephone and utility bills are processed through the Finance Department to verify long distance service usage and to verify proper departmental allocation of utility costs. Any bills received in another department should be forwarded to the Finance Department. Prior to forwarding telephone bills to Finance, Department Heads must review and sign off on all charges to be paid. Check Signers All checks drawn on any depository of Village funds shall be signed by both the Village Manager and the Finance Director, or in the absence or inability of the Finance Director and/or the Village Manager to sign such checks, they shall be signed by the Vice Mayor and/or the Mayor.