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2002-037 Adopts Accounting Procedures• RESOLUTION 37-2002 A RESOLl17lON OF THE VILLAGE COUNCIL OF NORTH PALM BEACH ADOPTING ACCOUNTING POLICIES AND PROCEDURES MANUAL FOR INTERNAL CON"1'ROI, FOR Tl1E VILLAGE. OF NORTH PALM BEACH AND REPEALING ALI, OTHER RI?SOLU7'IONS IN CONFLICT HEREWITH. NOW, THEREFORE, BE IT RESOLVED BY THE V]LI,AGE COUNCL, OF NORTH PALM BEACI I, FLORIDA: Section 1. 7'he Accounting Policies and Procedures Manual for internal control for the Village of North Palm Beach, attached hereto and by reference made a part hereof, is hereby adopted. Section 2. All other Resolutions in conflict with this are hereby repealed. Section 3. This Resolution shall take effect immediately upon passage. PASSIiU AND ADOPTED THIS 13th DAY OF JUNE, 2002. AT"I'f'S1'• VILLAGE CL RK J C~ Village of North Palm Beach Accounting Policies & Procedures Manual For Inter~zal Co~ztrols June 2002 Resolution 37-2002 C • Accounting Policies R Procedures Manual Table of Contents Title Summary of Significant Accounting Policies Accounting Policies . Basis of Presentation and Fund Types Basis of Accounting , Budgetary Accounting , Purchasing , Objective and Department Responstbilities Purchasing Policy Initiating a Purchaze Purchazing Procedures, Bids, Contracts, Vendor Selectiaq etc.. Purchase Orders . Emergency Purchases Budget Transfers Emergency Budget Transfers Miscellaneous Telephone and Utility Bills Inventories Supplies Receipt of Goods and Services Acceptance Process for Payment Payments Invoices Invoice Retirement Check Requests Check Signors Surplus and Obsolete Material Equipment Methods of Disposition Procedure for Sale of Surplus Items Village of \orth Palm I3eae1~ Page 4 5-6 5 6 6 7-13 7 8 9 10 11 13 14-15 15 16 16 16 17 17 17 18-19 18 l8 18 19 20 20 20 1 • • Accoun~ing Policirs & Procedures Manual Villagr of North Palm [3rach Fixed Assets Accounting and Recording 21-22 Classification 21 Recording and Tagging 2l Deletions 21 Physical Inventory 22 Exception 22 Cs~slt illanagement 23-24 Transfer of Funds 23 Surety Bond Requirement . 23 Cash Receipts and Deposits 23 Finance Department 24 Petry Cash 24 Departmental Procedures .' 25-29 Public Services 25-26 Building Permits . 25 Occupational Licenses 25-26 Renewal Licenses 26 Receiving Payments 26 Recreation Department 26-27 Country Club 27 Golf Pro Shop 28 Terris Shop 28-29 Pool Shop 29 Driving Range 29 Investments 30-35 Performance Measurements 31 Prudence and Ethical Standards 31-32 Authorized Investments 32 Portfolio Composition 33 Third Party Custodial Agreements 34 Bid Requirement . 34 Continuing Education 34 Policy Considerations 35 Delegation of Authority 35 Inventories 36 Payroll and Personnel Administration 37-38 Personnel Administration . 37 New Employees 37 Payroll 38 Accounting Policies K Procedures \lanual Village of Korth Palm T3each • General Ledger and Financial Reporting 39-42 Chan of Accounts 39 Funds 39 Department Types 39.40 Account Types 40 Journal Entries 40-41 Financial Reporting 4l Analytical Review 41 Annual General Purpose Financial Statements 42 Travel 43-46 Authority to Incur Travel Expense 43 Authority to Incur Supplementary Expense 43-44 Mode of Travel .' 44 Advance Travel Allowance 45 Travel Expense Procedure 45 Defutirions 46 Appendix A Resolutions and Ordinances 47-65 Resolution No. 53-80 Check Signors 48 Resolution No. 18-96 Fixed Assets Accounting and Recording 49 Resolution No. 44.98 Village Manager Authority to Sign Contracu 50 Resolution No. 51-98 Purchasing Regulation Amendments . 51-52 Resolution l~'o. 69-99 Accepting Government Contract for Purchasing Labor and Materials. S3 Resolution No. 50-2001 Purchasing Regulation Amendment Emergency Purchases 34 Ordinance No. 15-2001 Investment Policy . SS-62 Appendix B Fortes . 63-74 Personal Action Form 64 Check Authorization Form. 65 Report of Travel Expenses. 66 Cash Receipts /Deposit Forrns: Finance . 67 Village Clerk 68 Public Services 69 Public Safety 70 Recreation 71 Library 72 Country Club 73 Fixed Asset Recording and Deletion Fotm 74 • A:counting Policies 8:. Proczdures >lanual Village of\orth Palm Dzadi • . Summary of Significant Accounting Policies HISTORY The Village of North Palm Beach, Florida ("the Village") was incorporated in 1956 pursuant to Chapter 31481, Laws of Florida, Extraordinary Session 1956. The Village is located in the northeast portion of Palm Beach County, Florida. Its municipal area comprises approximately 1,900 acres of land and 1,200 acres of lakes, canals and lagoons. The Village's non-seasonal population consists of approximately 12,000 residents, which increases during the winter months to approximately 18,000 people. The Village operates under the Council Manager form of government and provides the following services to its residents: public safety, planning and zoning, sanitation, recreation, library, parks, marinas and a country club. The Village Council (the `Council") is responsible for legislative and fiscal control of the Village. • a Ac: ounune Policirs l Proczdures >lanual \"illasr of \orth Palm 6zazh • Accounting Policies Basis of Presentation The accounts of the Village are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set ofself-balancing accounts that comprise its assets and other debits, liabilities, fund equity and other credits, revenues, and expenditures or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The various funds and account groups are reported by generic classification within the fmancial statemcn[s as follows: Governmental Fund Twes General Fund -used [o account for all financial resources applicable to the general operations of the Village governmen[ except those required to be accounted for in another fund. Capital Projecu Fund -used to account for resources principally provided by general long-terra debt and used for the acquisition or construction of major capital facilities other than those financed by proprietary funds. Proprietary Fund Twe Enterprise Fund -used to account for operators that provided services on a user chazge basis to the public and activities where the periodic measurement of net income is deemed appropriate for capital maintenance, public policy, management control, accountability or other purposes. Proprietary fund activities and basis of accounting are svuilar to those ofren found in the private sector. The Village's sole proprietary activity is the operation of a golf and country club. Fiduciary Fund Twes Trus[ Funds -used to account for assets held by the Village in a trustee capacity. The pension trust funds are accounted for in essentially the same manner as proprietary funds since capital maintenance is critical. Agency Funds -used to account for assets Geld by the Village. The Village retains no equity interest in these funds. Account Groups Account groups are not funds since they do not reflect available fmancial resources and related liabilities. Instead, they are used to establish accounting control and accountability for the Village's general fixed assets and general long-term debt. The following is a description of the account groups of the Village: General Fixed Assets Account Group -used to maintain control and cost information for all fixed assets other than those accounted for in the proprietary fund. General Long-Term Debt Account Group -used to record outstanding long-term debt other than debt recorded in the proprietary fund. • Aczountim_ Policies & Procedures >lnnual Villa~~e of \brth Palm [leach • Basis of Accounting _ . Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and relates to the timing of the meazuremenu made, regazdless of the measurement focus applied. All governmental funds are accounted for using the modified accrual bazis of accounting. Their revenues are rccognized in the period in which they become suscepnble to accrual, i.e., when they become measurable and available to pay liabilities of the current period. Ad valorem taxes and charges for services are susceptible to accrual when collected in the current yeaz or within 60 days subsequent to year-end, provided that amounts received penain to billings through the fiscal year just ended. Intergovernmental revenues, which include state revenue sharing allotments, local government one-half cent sales tax, and county shared revenue, among other sources, are recorded in accordance with their legal or contractual requirements if collected in the current period or within 60 days after year-end. Interest is recorded when earned. Licenses and pemilts, fines and forfeitures and miscellaneous revenues are recorded as revenues when received in cash because they are generally not meaztuable until actually received. Occupational licence revenues collected in advance of periods to which they relate are recorded az deferred revenues. Expenditures are generally recognized under the modified accrual bazis of accounting when the related fund liability is incurred. Exceptions to this general rule include principal and interest on genera] long-term debt which is recognized when due. The proprietary fund and pension trust funds are accounted for using the accrual basis of accounting. Thew revenues are recognized when earned, and their expenses art recognized when they are incurred. Membership fees of the proprietary fund that are collected in advance of the period to which they apply are recorded az deferred revenue. Budgetary Accounting State of Florida statures require that all municipal governments establish budgetary systems and approve balanced annual operating budgeu. The Council annually adopts an operating budget and appropriates funds for the general fund. The procedures for establishing budgetary data are as follows: In July of each year, the Village Manager submits a proposed operating budget to the Council for the next fiscal year commencing the following October 1". The proposed budget includes expenditures and the means of financing them During the third week of July, the Council holds public meetings to obtain taxpayer comments. Upon completion of the public bearings and prior to October 1, a final operating budget is legally enacted through the passage of an ordinance. Estimated beginning fund balances are considered in the budgetary process. _• Asouming policies & Procedures Manual V;IIa¢r of\~orth Palm B2ach • Purchasing Objective The Primary objective of purchasing operation is to maximize the value of the dollaz spent. All Village departments are responsible for accomplishing this objective by planning for future purchase needs and making them in an economical manner. Responsibilities of Finance Deoarhnent - Maintain an up to date vendor list. - Process purchase requisitions. - Prepare and issue purchase orders. - Pay vendor invoices. Responsibilities of Villa¢e Clerk Maintaining bid files. Responsibilities of Operatin¢ Departments - Obtain prices on comparable items. - Search for new sources of goods and services and provide the names to the Finance Department. - Provide complete information on iterru to be purchased on the purchase requisitions and reference budget line item description. - Provide appropriate documentation with purchase requisitions as required. - Plan for purchases to m;n;m;>e emergency purchases. - Prepare technical specifications. - Determine if sufficient funds aze available in the budgeted line item. - Attempt to use the Finance Deparunent's vendor list as a minimum for all quote requirements. Responsibilities of Villaee Manager - Advertise for bids. - Take formal bids. • • • A..ountim, Pnhcir3 ~ Pto;zdurzs Manual Purchasing Policy Detetminine Purchasin¢ Methods: ~'illasz of\'orth Palm T3ac6 a. All purchases having ao estimated cost in excess of 510,000 (resolution 50-2001): 1. Must be formally advertised in a newspaper of general circulation with the advertisement being no less than fourteen (14) days prior to the opening of bids. 2. Must be awarded on a sealed bid basis by vote of Village Council. 3. The vendors' list will be used as a minimum notification list of available vendors for bidding purposes. b. All purchases having an estimated cost between $1,001 and $10,001 (resolution 50-2001): 1. Must be made by written price quotation (minimum three (3) quotations must be obtained). 2. Must be budgeted items. 3. Must be authorized by Village Manager. c. All purchases having an estimated cost between $501 and $1,000: 1. Require three (3) quotations. 2. Must be budgeted items. 3. Shall be authorized by Department Head or Village Manager. d. Purchasing having an estimated cost of up to 5500, unless otherwise described in this manual: 1. Do not requve bids or three (3) quotes; Department Heads are encouraged to obtain the most cost- effective price. 2. Must be budgeted items. 3. Shall be authorized by Department Heads. e. Exceorions - In certain instances exceptions to the above may exist. Purchases may be accomplished: 1. Through the use of the emergency purchase provisions as provided for in the Emergency Purchases section of this manual. 2. When annual contracts exist, i.e. gas, oil, tires, office supplies, etc. 3. When requirements imposed by federal, state, or county grants provide different regulations. 4. When the Village Manager deems it appropriate to use procedures of more formality than set out above. 5. When the Villaee Council waives the purchazing rules and regularions. f. The Village Manager shall also comply with Resolution No. 44-98 of the Village when authorizing purchases that involve µTitten contracts. (resolution 51-98) Initiating a Purchase Purchase Requisition Purchase requisition is to be filled out and submitted to the Finance Department with the appropriate documentation attached. Where equipment is covered by maintenance contracts, requesu for service may be made dvectly by the respective department. • A:zountin Policir; fi Procedures .\lanual Reouisition Prepazation Procedure to process regular requisitions: a. Print each requisition in duplicate and give the following: \'iliage of \orth Pi.^.. E3aach 1. Sequential requisition number. 2. Departmcnt account number. 3. Date of requisition. 4. Suggested vendor name and address. 5. Village delivery location. 6. Quantity. ~. Complete, detailed description and purpose of iterns to be purchased, and reference budget line item description. 8. Estimated net cost of line items of goods and services. 9. Estimated cost of shipping and handling. 10. Signature of department head which indicates depamnent head's approval of purchase. b. Whcn necessary, bid documents[ion, i.e. telephone bids, request for quotations, etc. should be attached to purchase requisition. c. The original is sent to the Finance Department or Village Manager (for over 51,000). d. Second copy is kept in the requesting department's file. e. Upon receiving the requisition, Finance will determine the availability of funds in the department account. If the funds are available, prepazation and processing of the purchase order will proceed. f Requisitions over 510,000 will be subject to the bidding process. Upon award of bid by the Village Council, the Finance Department will prepare and issue a purchase order. • r\rruunting P,il icirs K Proredurr> VInnual Villa cr of Xnrth Palm Brach • Purchasing Procedures, Bids, Contracts, Vendor Selection, etc. Formal Biddine Formal bids are requved for purchases in excess of S 10,000. Wtitin~ Specifications Upon submitting a request for formal bidding, departmenu should also transmit desired specifications to be included as a pan of the bidding process. Care should be taken to design specifications so that they are not so narrow as to limit competition unnecessarily. Department heads have the responsibility for complying with this guideline. Identifying Suppliers Operating departrnents are responsible for maintaining a comprehensive, updated list of suppliers of various produce frequently purchased by that department. It is the Village's policy to award to the lowest qualified bidder offering merchandise conforming to pre-defined specifications. Sealed Bid Ooenine All sealed bids aze to be opened at the exact time, date and place specified in the bid package. A bid package contains: (1) notice to bidders; (2) complete bid specifications and (3) contract documenu, if appropriate. All bids are to be opened publicly with tabulation being made available to all vendors participating. Formal bids are to be checked for proper submission of any requved bid deposits, bonds, etc. All sealed bids will be opened by a bid board consisting of the Village Manager, the Department Head concerned, and the Village Clerk. After evaluation, a recommends[ion will be made by the Village Manager Cor transmittal to the Village Council. Sole Source Items Sole source items must be designated as such when requisitions or specifications aze submitted. Every reasonable effort must be made to locate competitive suppliers. Only the Village Manager may certify an item as sole source. Approval of sole source purchases over S 10,000 is to be mods by the Village Council. Contracts a. 7'lte Village Manager is authorized to sign contracts on behalf of the Village that involve expenditures for goods and services that arc line items within the Village budget and do not exceed five-thet~aed de}Fars-(5-5,000) ten thousand dollars ($10,000). Prior to execution of contracu, the Village Manager shall first comply with the purchasing regulations adopted by the Village Council and have the contracu reviewed by the Village Anomey for legal sufficiency (Resolution 44-98). b. Contracu for over 5-S,A00 S 10,000 must be approved by the Village Council. c. 7'hc annual contracts awazded by Palm Beach County, the State of Florida, the Palm Beach County Cooperative Purchazing Council, and other governnxntal agencies, for labor and materials are accepted by the Village in accordance with their terms (Resolution 69-99). u 10 :\rrountinc Puiicic, ~ Pruceduro. \lauual \'illax of \bnL P~Int Brach • Purchase Orders Use of Purchase Orders For all regulaz purchases of 8300-erixere more than S 1,000, the purchase order will be used. Exceptions aze outlined in the Confirming Purchase Orders, Emergency Purchases and Miscellaneous secrions (resolution 18-96). Procedure for Issuing a Purchase Order a. All purchase orders will be issued by the Finance Department. b. All purchase orders will be sequentially numbered. c. The purchase order is prepazed in triplicate. d. The ptuchase order is printed giving the following information: 1. Purchase order number. 2. Vendor code number. 3. Vendor name. 4. Vendor address. 5. Vendor contact person. 6. Vendor telephone number. 7. Vendor fax number. 8. Deparnment account number. 9. Requisition number. 10. Date of purchase order. 11. Required delivery date. 12. Tetras 13. F.O.B. point 14. Destination shipping point. 15. Quantity ordered. 16. Vendor proprietary stock number (if any). 17. Generic description of goods or services ordered. 18. Unit price. 19. Extension 20. Net total of goods and services 9rdered. 21. Allowable shipping chazges. 22. A box checking an original or confirnilng purchase order. 23. Signature of responsible Village official. How Purchase Orders aze Processed a. The original copy is delivered directly to the vendor. b. The second copy is retained by the Finance Department for account encumbrance and is attached to the requisition original. c. The third copy is sent to the Department Head of the regttisidoning department. J 11 :\c.aun;ink 1'oliciri C F'rosdurrs \lanual \'illagr ,+(Xorth Palm Beach • Cancellation of a Purchase Order All cancellations of orders must be made by forwarding to the Finance Department the receiving copy of the purchase order with the word "VOID" printed across the face of said copy. The Department Head should sign and date all voided purchase orders, as well as provide a brief reason for the void. Confirming Purchase Orders Maintenance Agreements, equipment repairs, maintenance materials and supplies, or other items purchased at the time of need maybe handled as follows: a. When a department needs a purchase order number for an item in this category the Finance Department should be contacted. The Finance Department will assign a purchase order number to that item and record the vendor's Warne, purchase order number, approximate cost and account number. b. The Finance Departrnent will process the purchase order in the normal fashion, except that the "CONFIRMING" box oa the purchase order will be checked. The name of the contact person at the vendor with whom the order was placed, and the date and time the order was placed will be written. c. "CONFIRMING" orders will be kept to a minimum and used only when it is not reasonable to use the normal purchasing method. ~editine Orders Once the Finance Department has issued a purchase order, no follow-up work is done on the order by Finance. It will be the responsibility of the operating department to expedite orders. Back Orders of Partial Payments When several items are ordered, the supplier may deliver only a portion of the quantity requested. He may then advise you that the remainder of the order has been back ordered. The Department Head should retain the copy of the purchase order untl all items ate delivered. Should the vendor invoice for the partial order delivered, the following partial payment procedure can be implemented: a. When the invoice is received, the departtttent head should forward the invoice to the Finance Deparment with his or her approval of the partial payment. Notations should be made on the invoice that the order is "INCOMPLETE" and the purchase order number circled, or noted if it is not mentioned on the invoice. The Finance Department will use this as authority for partial payment. Documentation must be sent to the Finance Department indicating which items have been received before the Finance Deparment makes the payment on such invoice. , b. The department copy oC the purchase order remains in the department until the entire order is filled, invoiced, or balance canceled. Blanket Purchase Orders Blanket purchase orders can be requested hom the Finance Department for small, routine daily purchases • for each vendor that the department intend to rue frequently during the year. The blanket purchase order is limited for each purchase up to $300 $1,000 as authorized by the department head for each vendor. 12 :\cruumin_ Pnli~irs & Pnicr~urr; ~Iauual \'illacc of\m~lh Palm (3each • Split Purchases (Pyramidin¢l a. Split purchases, or pyramiding, is defined as issuing more than one purchase order on the same product. (With the intent of circumventing these regulations and/or budget limitations) within an unreasonably short time period such that the totals of the purchase orders equal an amount greater than that authorized by these regulations. b. Split purchases aze prohibited. Emergency Purchases General Policy True emergencies do occur as a result of parts, supplies, and labor needed to repair equipment and facilities that aze needed to provide services for the health, welfare and safety of the public. Anticipating needs in advance, whenever possblc will hold emergency purchases to a minimum and allow the use of standard procedures. Procedure a. Emergency purchase between $0 [o $1,000, mazk invoice "EMERGENCY PURCHASE". The invoice must be submitted to and approved by the Department Head, subject to confirmation by Village Manager. b. Emergency purchases §eat-3~;00~-ie of more than $1,000 and up to $10,000, rrurk invoice "EMERGENCY PURCHASE", and convect the Village Manager for approval, subject to confutnarion by the Village Council. (Resolution 40-2001) c. Emergency purchase of $~19,800$nd-ever over 410,000 are not to be made without the approval of the Village Council. (Resolution 50-2001) • 13 Accounting Policies R Procedures Manual \'illa2e of \oan Pa;m Bzach • Budget Transfers Budget Amendment Ordinance Budget amendment ordinance is required for the following: a. Transfer of monies to/from for new line items in the budget. b. Transfer of monies increases/decreases the budgeted total of the respective fund. c. Transfer of morn than $10,000 for the item not in the budget. d. Budget transfer from Council Contingency Account and Country Club Contingency Account must be approved by the Council. Budget Transfer Requirements a. Budget transfer for the amount of more than $5,000 requires Council approval. b. Budget transfer for amounts more than $1,000 and up to $5,000 requires Village Managet approval. a Departrnen[ Head may transfer up to $1,000 within their controlled division. d. Budget transfer from Council Contingency Account and Country Club Contingency Account must be approved by the Council. Controlled Divisions The following are the controlled divisions and are considered for budget transfer purposes: • 1. Village Manager: -Village Manager 2. Finance: -Finance -Village Attorney -General Services -Community Planning -Debt Services -General Services -Reserve - Insurance (Country Club) -Debt Services (Country Club) - Reserve (Country Club) 3. Village Clerk: -Village Clerk 4. Recreation: -Recreation - Village Council -Special Evenu 5. Library: -Library 6. Public Sajety: -Law Enforcement -Fire Prevenrion - Emergency Medical Services 7. Public Services: -Administration 8. Country Club: -Administration - Facilities Maintenance -Golf Course Maintenance - Sanitation -Golf Shop/Carts/Driving Range - Street Maintenance -Pool - Vehicle Maintenance -Tennis - Park Maintenance -Food & Beverage - Community Planning -Clubhouse Grounds 14 A.eounting policies R Procedures Manual Village of\urth palm L'zarh • Emergency Budget Transfer (Resolution so-zoos) Emereencv Bud¢et Transfer Procedures Emergency budget transfer procedures for emergency purchases are as follows: a. Emergency budget transfers for up to $1,000 between the existing budgeted line items of the same division require Department Head approval, subject to confirmation by the Village Manager. b. Emergency budget transfers up to $5,000 among existing budgeted line items of the existing budget (regardless of department) require Village Manager approval, subject to confirrttation of the Village Council. c. Emcrgency budget transfers over $5,000 requite Village Council approval. • 15 • C Accoumin¢ Policies & Procedures ~(anual Miscellaneous VillaYC or'~br[h Palm Death Telephone and Utility Bills All Village telephone and utility bills are processed through the Finance Department to verify proper billing for each department and for long distance service. Any bills received in another department should be forwarded to the Finance Department. Telephone bills must be verified by the Department Head and Corwardcd to Finance. Inventoried Supplies In order to obtain cost savings on those items rued frequently by all departments for normal ofTice operations, the Village will bid those items on an annual basis in October of each focal year. All departmenu will estimate their respective needs for items required on a frequent basis. All orders will be processed by the General Services Deparment. Those items will be inventoried and charged back to each department as they draw down on supplies. General Services "Inventory Requisitions" will be used to account for all "drawn" items. 16 A~cot:minc Policia; & ProC2dllres >tanual Villaie of \br[h Paim 6za:h • Receipt of Goods and Services Acceptance a. Upon receipt of goods a physical inspection, under the responsibility of the Department Head, will be made to determine quantity and quality of merchandise received. b. If there is a discrepancy, inform the vendor and the Finance Departrnent immediately and confom coaversadon in writing. c. If quantity and quality conform to purchase order specifications, the Department Head signs off on the vendor-packing list or bill of lading or enclosed invoice. Process for Payment a. If the shipment does not complete the purchaze order, the Department Head has the responsbiliry of retaking a duplicate of the receiving (third copy) of the purchaze order and mazk the receiving copies "PARTIAL SHIPMENT RECEIVED" and forward one of the copies to the Finance Deparvnent. b. If the shipment completes the purchase order, mark the receiving copy "SHIPMEIv'T COMPLETE RECEIVED" and forward it to the Finance Deparunent. c. Forward the vendor packing slip or bill of lading (if any) with the receiving copy to the Finance Department. d. Services, az distinct from commodities, rendered must be certified by the Deparnnent Head that the quality meeu the specifications of the purchase order before the invoice is paid. • 17 Accounting Policies & Procedures Manual • Village of North Palm Beach Invoices t a. Original vendor invoices will be sent dvectly to the Finance Department. b. The Finance Department will pay the invoice only if: 1. The receiving copy and vendor packing slip or bill of lading or enclosed invoice haz been received by the Finance Department. 2. Signattue approval by the Department Head on the receiving copy certifies that there haz been a sa[isfactory delivery of goods or services. 3. Total quantity received.per line item is equal or less than quantity ordered. 4. Unit Price on invoice is the same az unit price on the purchase order. 5. Extension per line item is correct. 6. Total of line item extensions is reflec[ed by the net total on the invoice. 7. Advantage is taken of all allowable discounts. 8. Funds are available in the department account. Invoice Retirement a. Check is issued [o vendor, signed by the appropriate authorized individual(s). b. Original invoice is marked "PAID". c. The "PAID" invoice, the receiving copy, the vending packing slip or bill of lading, and the remittance copy of the check are attached to the original purchaze order and filed. If the purchaze order is not complete, the attachment is made by paper clasp. If the purchase order is complete, the attachment is made by staple. Check Requests a. Department Head may request checks on prescribed forms for: 1. Travel 2. Training 3. Subscriptions 4. Reimbursements • 5. Petry Cash 6. Donations 7. Contributions 8. Contract Labor 9. Independent Contractors 10. Etc. 18 Accounrin¢ Policies & Procedures Manual Village ot'Korth Palm Beach • 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. Check Si ers (Resolution 53-80) a. T2te Village Manager of Finance Duector shall sign all checks drawn on any depository of Village funds. b. All checks in excess of 51,000 drawn on any depository of Village funds shall be signed by both the Village Manager and the Finance Director, or is the absence or inability oC the Finance Director and/or the Village Manager to sign such checks, they shall be signed by the Vice Mayor and/or the Mayor. • 19 \ceouming Pulicirs S Procedures >tanual ~"illa!~r of \orth Palm Cirach Surplus and Obsolete Material and Equipment Methods of Disposition a. Surplus, worn out or obsolete material and equipment may be disposcd of in any of the following ways: 1. By transferring to other departments. 2. By returning to the manufacturer or supplier. 3. By trading in on new equipment. 4. Byjunking. 5. By advertising for sale. b. Each department shall report its surplus or obsolete stock, equipment or materials to the Finance Department. c. ?.Il Capital Equipment shall be declared surplus by Village Council before processing as surplus Procedure for Sale of Surplus Items a. If surplus material is sold, it shall be accomplished by the affected department in conformance with competitive practices. b. Surplus property may be disposed of by auction. Final approval for sales will be made by the Village Manager or his designee. Advertisement for such sales will be made in a local newspaper at leas[ one time, no less than five (5) days prior to sale or auction. • 20 .-\:.nwning pulicirs l Pro.edurrs ~lenual \'illacr of \orth Palm Brach Fixed Assets Accounting and Recording General Definition (Resolution 18-96) The fixed assets for the Village of North Palm Beach are defined as fixtures and other tangible property of noo-consumable nature with a value e€$399-erixere over $1,000 and have a normal expected life of one year or more, at the timc of acquisition, are to be capitalized and recorded into the fixed asset inventory of the Village. Classification (Rcsoluton 18-96) The following classifications are to be used for fixed asset inventory: 1. Land -Includes parcels of land acquued for building and plant sites and right of way. 2. Buildings • Include all buildings; permanently attached fixtures installed during construction are considered a part of [he building, major improvements such as additions to the building. 3. Improvement O[hcr Than Building -Include structures and facilities other than buildings. 4. Machinery and Equipment -Include motor vehicles, machinery and tools, office equipment, etc. Recordin¢ and Taggin¢ Departments will fil! out the fixed asset worksheet for all newly acquved assets with the following information: a. Description b. Price c. Department d. Location e. Condition f Custodian g. VIN -Manufacturer -Model -Model Year -License Number h. Estimated life i. Vendor, Purchase Order Number, Inventory Number, Inventory Date, Amount Once information is received a tag number is assigned and information is put into the system A print out of the information is run and the tag number is attached to the print out. The print out and tag number are sent to the Department Head to put the metal asset tag number on the equipment. The copy of the print out is to be retained by the department until equipment is disposed. Deletions To delete equipment or an asset from asset records the asset worksheet should be filled out for retire date, disposal code, and sell price. • 21 A:coun~ine Policirs & Procedures \lanual V illaee of \or[h Palm Bzach • Physical Inventory (Resolution 18-9~ Physical inventory of all fixed assets must be taken annually. Fach department will be respotuble for taking an annual physical count of theu department's inventory per the list provided by the Finance Department. Department Head shall certify the complete physical count, additions, deletions and changes marked on the list, and reconciliation of all discrepancies. The Department of Finance will be responsble for keeping up to date listings oC all fixed assets. Exception (Resolution 18-9~ Department Heads may request the Finance Department to include any item less thaw 5500. • 22 \:: ocnun_ poli: irs \ Pruxdures \lanual \'illacr ut Xonh Puln: Bru~:h Cash Management General Policy The Village's deposits are held in qualified public depositories pursuant to State of Florida Statutes, Chapter 280, and "Florida Security for Public Deposits Acts". The Village also opu for the investment policy in compliance with State of Florida statutes chapter 218.415. Transfer of Funds The following Village officials are authorized to transfer funds between Village bank accounts on behalf of the Village: 1. Mayor 2. Vice Mayor 3. Village Manager 4. Finance Dtrector Surety Bond Requirement The following Village officials shall each before entering upon the duties of then respective ofTice; give a good and sufficient Surety Company bond to the Village in the following amount: 1. Village Manager, $ 200,000 2. Finance Director, S 200,000 3. Village Clerk, S 10,000 4. Country Club Manager or Administrator, S 200,000 Cash Receipts and Deposits All mail, including checks aze received by the Executive Secretary to the Village Manager. The Executive Secretary then distributes the mail to each department. Each department is responsible for preparing the report and submitting the checks and report to the Finance Department on a daily basis for posting in the general ledger. , Departments are required to send their deposits to the Finance Departrnent Departments are aot allowed to hold cash and/or check in excess of 5500 eve circumstances any amount less than 5500 for over a week in their departrnent. r~ ~J as soon as possible. r night and under no 23 :~rcmmting Pulicies ~ Procedures Manual ~'illacr uC~~orth Palm f3ra:h Petty Cash The Village maintains petty cash boxes for regular operations, customer service and incidentals. The following is the list of departrnents with Petry Cash: General Fund Country Club Public Safety $ 100 Administration 3 100 Public Services 450 Driving Range 150 Recreation 100 Golf Pro Shop 300 Library 150 Tennis 100 Finance 200 $ 650 S 1.000 Public Safety Special Investigations S 2000 All disbursements from petty cash require appropriate supporting documentation: 1. Payment Amount 2. Payment Date 3. Description of Expenditure 4. Account Number 5. Proper Authorization The designated employee in the department is responstble for the verification of payments made from the petty cash accounts, replenishment of the funds and the reconciliation of the account balances on a monthly basis. The procedures [o reimburse the petty cazh funds aze as follows: The designated employees of the department prepares s disbursement form which contains the following infom~ation: 1. Disbursement Date 2. Name of the Payor 3. Description of Disbursement 4. Account Number and Amount The petty cash supporting documentation is attached to the completed disbursement form Replenishment requisitions are reviewed and approved by the Depamnent Head and sent to the Financebepartment for replenishment of the funds. • 24 \r; n::r,un, Puh:ir~ S Prucrdurrs Manual • \'illaer of \ordt Palnt 6e8.h Departmental Procedures Finance Department Payments are received through the mail and via electronic funds transfer (EFT/ACH) from various sources. Deposit slips are prepazed by the Account Clerk III, 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 trade. All payments aze idenrified by type and coded by the Account Clerk III. A copy of any support documentation is filed in the monthly cash receipts folder, along with a validated copy of the deposit slip. All deposits arc then posted to the general ledger (cash, revenue or other account as applicable). The Finance Director and AccountanrII periodically review the reports and deposit records. Deposit slips along with supporting documentation are then grouped by month and maintained in the villages records in accordance with retention requirements. Public Services A. Building Permits Procedures for Issuing a Building Permit: 1. Contractor or owner comes in to fill out an application for permit. All contractors must be licensed with the Village in order to obtain a building permit. 2. The office staff of the building department determines what type of permit: building, plumbing, electric, gas, or other. 3. Once the application for a permit has been received it must get approval. Plan reviewer reviews applications. 4. After approval, the information is entered in the computer and the applicant is called the next morning for pick up. 5. Upon payment of the permit fee, the computer is updated to show issuance of the permit. A copy of the permit goes to the contractor/owner, numerical files and lot file. The numerical file is a file that contains all pcmtits issued filed in numerical sequence. "Lot files" are kept for each lot in the Village. Lot files contain paper work on all work ever done on the property. Fees for Building Permits Fees are based on the valuation of the work to be done. On each application acontractor/owner must estimate the valuation of the work for which the permit is being applied. The fee schedule is then applied to the valuation in order to determine a fee. Numerical Order of Permits • The computer assigns each permit a unique number. that each project may require more than one permit. issuance. Each project also is assigned a unique number. Note The numbers correspond with the calendar year of 25 \:.uuntinc Policir_ S Pro~rdure> Manual \'illacc ul'\ordt Palm I3:ach • B. Occupational Licenses There are two (2) types of licenses: one for the contractors and the other is for a business located in the Village. An application is filled out by all new business located in the Village. Contractors 1. Certificate of Competency 2. County license 3. County-wide license (if they have one) 4. State certificarion (if they have one) 5. Proof of workers' compensation insurance Businesses 1. County license (real estate and insurance businesses do not need county licease) 2. Stale license (if applicable) When staff reviews the licerses, in addition to reviewing the application and proof of competency, the location of the business and the zoning is considered at that time. All new applications requve an occupational license inspection before the license is issued. The delay between the receipt of an application and the delivery of the physical license occurs because the infomtation on the application must be entered into the computer. The computer generates the actual license. The licertse is validated by the cash register when the license fee is paid. The license is a two-copy document. The top copy is retained at Public Services and filed in order of license number. The second copy is mailed to the applicant. It is at this time that a license numbec and an account number are assigned. Renewal Licenses Liceases are for a period of one year, starting October 1 through September 30. The renewal licenses arc sent to the proper person in mid August. The licenses are issued when the fees have been paid. License fees can be paid for by mail or in person. Either case requires proof of competency. Receiving Payment for Building Permit Fees and Occupational Licenses IQew Application A new business will come in and apply for a license. At that time, the zoning is checked to make sure the business is allowed. After an occupational license inspection is conducted and passed, the applicant comes in and pays the fee. The application is entered in the system and processed through the cash register. T'hc [op part of the occupational license is mailed and the bottom part is filed in the office. License Renewal In mid August, occupational license renewals are mailed out. the renewals come in through the mail or person. The occupational renewals are entered in the computer and processed through the cash register. The top part of the occupational license is mailed and the bottom part is filled in the office. Daily Deposits Register is closed out at the end of each day. A "Z" tape segregates checks and cash into 12 different • categories, plus a "mist:' category. A deposit form, created by the Finance Department, is prepared each morning. Forms show cash/checks and account numbers and title. A file of deposit slips is kept for one (1) year. 26 \::otmein•~ Pulicits ~ Yrocedures Manual Villagr of ~~or~h Palm 6ra~ • Recreation Department All registrations are taken at the Anchorage Park Facility. The patron completes a three, (3) copy registration form Staff verifies registration infortrtatioq checks resident/non-resident status, and records the type of payment (cash/check). Patron receives pink and yellow copies of form, with yellow to go to the instructor at the First class, and the pink copy for their records. Staff rings transaction through cash register, staples register receipt to registration form and staples cash/check to form Monies arc placed in a deposit bag and dropped into the safe t the end of the evening. During the day, monies are taken directly into the office and placed in the safe. Program Superintendent records each registration in appropriate class list. Totals for each class aze calculated and entered on deposit forth Checks are totaled and cotnpazed to amounts obtained from adding all receipts. Amounts are cornpazed to cash register receipts. Checks are stamped on back with Village deposit stamp. Receipu are made for class totals. Deposit is recorded in the Revolving Fund. Individual class deposits are recorded for each instructor N spreadsheet. Deposit fomt, cash, checks, receipt, and cash register tape are all placed in locked deposit bag and sent to the Finance Department at the Village Hall. Country Club There are fora cash registers on the club premises: 1. Golf Pro Shop 2. Tennis Pro Shop 3. Pool 4. Driving Range The registers produce two tapes, on for the customer and one for the Village. Each day, pre-numbered receipts, tape and cash are tamed over to Account Clerk atith a daily sheet which accumulates and segregates the types of fees received at each location. Account Clerk reviews for accuracy, makes corrections where necessary, prepazes a daily cash report for submission to the Firumce Department, along with the supporting documentatioq prepazes the bank deposit slip, and makes a daily deposit. The Finance Department periodically performs an independent reconciliation of daily tapes to receipts and deposits. The Country Club has 5650 in petty cash on the general ledger. The petty cash consisu of the following: Administration Office (true petty cash) 5 ]00 Tennis Shop -cash register 100 Driving Range Shop -cash register I50 Golf Shop -cash register 300 Total Cash S 650 Each cash register has its own specific procedures for closing out the register, which will be described • separately below. 27 Accounting Policies S Procedures Manual Villa~~e u(~orrh Poim Bvara • u All Country Club rcceipu go through the Country Club Administration Office. The Country Club Administrative Office receives work sheen from the Golf Shop, Tennis, Pool, Restaurant, and Driving Range. The Account Clerk reviews each worksheet for accuracy, making any necessary corrections. Account Clerk prepares the "Office Use Only" portion of each worksheet, which entails tying ticket [orals to register tapes and accounting for the numerical sequence of tickeu. From these worksheeu, the Account Clerk compiles the Daily Cash Receipu Report that goes to the Finance Department. The Account Clerk also prepares the bank deposit slip and makes a daily deposit. Golf Pro Shop Cash register drawer has $300 balance at all times. Every sale is entered into the cash register and receipt is generated in triplicate. The receipts are distnbuted differently depending on typo of purchase: Green & Cart Fees white - adminisrativc office yellow - starter pink -customer Merchandise white -administrative office yellow -administrative office pink -customer At the end of the day, the cashier counu back the opening cash draw ($300) and pun the remaining cash in a bank deposit bag which is placed in a locked night deposit safe. The Account Clerk and Administrator (the Country Club administrative stag are the only people with the safe combination. The next rooming, the Country Club Administrator runs the cotrtputerized "End of Day" report and reconciles sales. The North Palm Beach Country Club Golf Pro Shop Daily Cash Receipu Report is completed. This shows the cash green fees and cash cart fees from the "End Of Da}r' report and the dollaz amount of each type of currency being deposited. The Golf Pro Shop Merchandise Report is completed, verifying that the merchandise tickeu agree to the "End Of Day" report. The Mastercard/Visa machine prim a tape of the day's rcceipu, which is reconciled to the merchant's copies of the Mastercard/Visa rcceipu. The cash, the "End Of Day" report, the Golf Pro Shop worksheet, the North Palm Beach Country Club Golf Pro Shop Daily Cash Receipu Report, the Golf Pro Shop Merchandise Report, the MastercardNisa printout, and all Ute day's tickeu aze put into the safe in the Administration Office at night. Tennis Shop Cash register drawer has $100 balance at all times. Every sale is entered into the cash register and a separate receipt is written by hand (in triplicate). The customer geu the white copy, and the Country Club Administrative Office gets the yellow and pink copies. The rcceipu aze pre-numbered and the sequence is accounted for by the Administrative Office. A play schedule is kept for each day. Any guest fees are so noted next to the person's name. A roster of al! metrtbers is maintained in the Tennis Shop for reference, although all members should have a cazd with them Closing Procedures Done by employee in charge of the cash register. I. The cash register is closed out at the end of each day. 28 1.ro:miing Pulicies ~ Procedures Manual \'illacc of North Pulm [3earh • 2. A "Z" tape is printed from the cash register. A "Z" tape summarized the day's business, segregating cash from charge sales. 3. The yellow copy of the day's receipu aze totaled and compared to the "Z" tape. 4. The left half of the Tennis cash receipts worksheet is completed. This consists of a summary of the day's revenue from the tickets (segregating cash and chazges) and a reconciliation of cash to cash sales. 5. The worksheet, "Z" tape, yellow copy of tickets (with a calculator tape showing the dollar total), the playing schedule, and the cash are taken to the Country Club Administration Office the next morning. Any discrepancies are noted by the employee. Pool Shop Cash register drawer has $100 balance at all times. This is not Village money; it is the Pool Director's money. The Pool keeps track on a log in sheet for members and non-members. The Pool Attendant turns this sheet in with the cash receipu for the day. Pool Director Coaches sell merchandise in the shop. This merchandise is NOT Vi]lage 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 chazged to a member's account Pink ------remains in the shop Closing Procedttres Done by employee in chazge of the cash register. 1. The cash register is closed out at the end of each day. 2. A "Z" tape is printed from the cash register. A "Z" tape summarizes the day's business, segregating cash from charge receipts. 3. The left side of the Pool worksheet is completed. This sumrarizes the receipts by type of revenue segregating cash and charges. It also summarizes the money being deposited by type of currency (i.e., quarters, ones, etc.). ' 4. The money, the "Z" tape, the worksheet, and any charge receipts are given to the Administration Office. Driving Range The moncy is removed daily from ball machines and deposited into the locked night deposit safe. The Administrator reconciles sales the following morning. The cash register at the counter is mainly there to [Hake change and to record sales of merchandise, (gloves, tees, shins, shorts and hats). The Driving Range staff performs the same funcrions for reconciliation and cash procedures, as do the other departrnents. - Two (2) part ticket -white to office -- yellow to ctutomer 29 • Accoumin~ Policies S Procedraes Manual Investments (Ordinance ,5.200, Village of North Palm Dcach The Village has adopted the Investment Policy pursuant to Florida Statutes chapter 218.415(17). Purpose The Village invests any surplus funds that are in excess of the amounu needed to meet current expenses. This investmcnt polity places the highest priority on the safety and liquidity of funds. Scope This investment policy applies to all the investrnent activity of the Village, except for its employees pension funds, which are organized and administered separately, or for funds related to the issttance of debt where there are other existing policies or indentures in effect for such funds. Funds included: a. General Fund b. Special Revenue Funds c. Enterprise Funds d. Debt Service Funds e. Any new funds created by the governing body unless specifically exempt. Objectives The primary objectives, in priority of order, of investment activities shall be safety of principal, liquidity of funds, and maximizing investment income. 1) Safety Safety of principal is the foremost objective of investment activities. Investments shall be undertaken in a manner that seeks to insure preservation of capital in the overall portfolio. All other investment objectives are secondary to the safety of principal. The objective will be to mitigate credit risk and interest rate risk. a. Credit Risk- Credit risk, the risk of loss due to the failtue of the security issuer or backer, will be n l>=m-red by: i. Limiting investmenu to the safest types of securities. ii. Pre-qualifying the financial institutions, broker;deaters, intermediaries, and advisers with which the Village will do business. iii. Diversifying the investment portfolio so that potential losses on individual securities will not place an undue financial burden on the Village. `r11 u 30 .\ceounrin, Policies S Proxdu:a >[anual Villa~~r of Wrth Pa!m 6rach • iv. Monitoring all of the Village's investmenu to anticipate and respond appropriately to changing market conditions. -b. Interestltate Risk- The Village will minimize the risk that the market value of securities in the portfolio will fall due to changes in general interest rate by: i. Structuring the investment portfolio so that the securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity . ii. Investing operating funds primarily in short-term securities, money mazket mutual funds, or similar investment pools unless it is anticipated that long-term securities can be held to maturity without jeopardizing the liquidity requirements. 2) Liquidity The investment portfolio shall remain sufficiently liquid to meet all operating requirements that may be reasonably anticipated. This is accomplished by structuring the portfolio so that the securities mature concurrent with cash needs to meet anticipated demands. Furthermore, since all possible cash demands cannot be anticipated, the portfolio should consist largely of securities with active secondary or resale markets. Portions of the portfolio may be placed in interest-bearing checking/savings accounu with qualified public depositories. Securities and Exchange Commission registered money mazket funds with the highest credit quality rating from a nationally recognized rating agency, or local government investment pools which offer same-day liquidity for short-term funds. 3) Investment Income Without compromising safety and liquidity, the highest possible [oral return should be obtained on the Village's funds. Income will include interest/dividends received as well as any realized or unrealized gains and losses of principal of the underlying security. Performance Measurements The investment income objective is to regularly exceed the average rate of retum on three month U.S. Treasury Bills, or the average rate an Federal Ftmds, whichever is higher. These indices are coatidcred benchmarks for risk-free investment transactions and therefore comprise a minimum standard Cor the portfolio's rate of return. The investment program rosy seek to augment retttrru above this threshold, consistent with risk limitations identified herein and prudent investment principles. Prudence and Ethical Standards 1. Prudence ' The standard of prudence to be used shall be the "prudent person rule", which states that: Investments should be made with judgment and care, under ctrcumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their owv affairs, not for speculation, but for the investment, considering the probable safety of their capital as well as the probable income to be derived from the investment. • 31 Accounting Policies & Procedures ~1anual Village of forth Palm Beach • The Chief Financial Officer, or other persons performing the investment functions, acting in - accordance with written policies and procedures, and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported immediately and that appropriate action is take to control adverse developments. 2. Ethical Standards Officer and employees involved in the investment process shall refrain from personal business activity that could conflict with the proper execution and management of the investment program, or that could impair their ability to make impartial decisions. Employees and investment officials shall disclose any material interest in financial institutions with which they conduct business. They shall further disclose any personal fmancial/investment positions that could be related to the performance of the investment portfolio. Employees and officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted oa behalf of the Village. Authorized Investments The Village may invest and reinvest, in accordance within the objectives stated in subsecrion 111, in the following: a. Interest bearing checking or savings accounts in qualified public deposi[ories as defined in Florida State Statute 280.02. b. Interest bearing time deposits in qualified public depositories as defined in Florida State Statute 280.02. c. The Local Government Surplus Funds Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Inter-local Cooperation Act as provided in Florida State Statute 163.01. d. Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency. e. Direct obligations of the United States Treasury. f. Federal agencies and instntmentality. g. Securities of, or interest in, any open-end or closed-end management type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. sections SOa-1 et seq., as amended from time to tune, provided that the portfolio of such investment company or investment trust is limited to obligations of the United States Government or any agrncy or instrumrntality thereof and to repurchase agreements fully collateralized by such United States Government obligations, and provided that such investment company or investment tout takes delivery of such collateral tither duectly or through an authorized custodian. b. Other investments authorized by law or by ordinance by the Village. • 32 Accoun[ing Policies ~C Procedures >]anual Villace of \or[h Palm [3ea.h • Maturity and Liouidity Requirements The Village's investment portfolio shall be structured to provide sufficient liquidity to pay obligations az they come due. Furthermore, to the extent possible, anA attempt will be made to match investment maturities with known cazh needs and anticipated cazh flow requirements. Unless matched to a specific cash flow, the Village will not duectly invest in securities maturing more than three years from the date of purchaze. Portfolio Composition The following are the limits for investments and limits on security issues, and maturities in the portfolio. The Chief Financial Officer has the option to further restrict investrnent in selected instruments, to conform to the present market conditions. Authorized Investments Maturity Range Maximum Interest bearing checking or savings accounts Interest bearing time deposits The Local Government Surplus Funds Trust Fund/Intergovetmnental investment pool Securities and Exchange Commission registered money market funds Direct obligations of the United States Treazury Federal agencies and instrumentality N/A 100% 3 yeah 20% N/A 100% N/A 50% 5 years 80% 5 years 80% Open end or closed end management type invesmtents/tmsts 5 years 20% Risk and Diversification Assets hold shall be diversified to control the risk of loss resulting from the over concentration of azsets in a specific maturity, issuer, instrument, dealer, or bank through which these instruments are bought and sold. Diversification strategics shall be reviewed and revised periodically az deemed necessary by the Chief Financial Officer. Authorized Investment Institutions and Dealers A list will be maintained of financial institutions authorized to provide investment services. In addition, a list also will be maintained of approved security brokers/dealen selected by credit worthiness. • 33 Accountin¢ Policies R Procedures Manual Village of North Palm Beach • Third-Party Custodial Agreements All securities purchased by the Village shall be properly designated as an asset of the Village and shall be held in safekeeping with athird-party custodial institution. The third-party custodian will be required to designate all securities held az assets of the Village. No withdrawal of securities, in whole or in part, shall be made from safekeeping, except by the Chief Financial Officer, or his/her respective designees. Securities transactions between abroker-dealer sad the custodian involving purchaze or sale of securities by transfer of money or securities must be made on a "delivery vs. paymenP' bazis, if applicable, to ensure that the custodian will have the security or money, az appropriate, in band at the conclusion of the transaction. Master Repurchase A¢reement All approved institutions and dealers transacting repurchase agreements shall execute and perform az stated in the Mazter Repurchase Agreemrnt All repurchase agreement transactions shall adhere to the requirements of the Mazter Repurchase Agreement Bid Requirement An appropriate maturity date will be determined for each investment base on cash f low needs and market conditions. Based on these considerations, the Chief Financial Officer will analyze and select one or more optimal types of investmenu and competitively bid the security in question when feaztble and appropriate. Except as otherwise required by law, the bid deemed to best meet the investment objectives specified in subsection III must be selected. Internal Controls The Chief Financial Officer shall establish a system of internal controls designed to prevent losses of funds, which might arise from fraud, employee error, and misrepresentation by third parties, or imprudent actions by employees of the Village. Such internal controls shall be in writing and made a part of the Village's operating procedures and shall be reviewed by independent auditors during the course of periodic fmancial audio as may be required of the Village. Continuing Education - The Chief Financial Officer shall complete eight (8) hours of continuing education amually in subjects or courses related to investment practices and products. Reportine The Chief Financial Officer shall prepaze an annual investment report, which shall include securities in the portfolio by class and type, book value, income earned, and market value az of the report date. The report will be provided to the legislative and governing body of the Village. The report shall be available to the public. Securities: Disposition 1. Every security purchased on behalf of the Village must be properly earmarked and: • a. If registered with the issuer or its agents, must be immediately placed for safekeeping in a location that protects the Village's interest in the security. 34 Acamntinc Policir; R Procedures Manual Village of \'onh Palm Brach • b. If in book entry form, must be Geld for the credit of the governing body by a depository chartered by the Federal Government, the State of Florida, or any other state or territory of the United States which has a branch or principal place of business in the State of Florida as defined in Florida Statute Section 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and exercise trusts and which is doing business in the State of Florida, and must be kept in the depository in an account separate and apart from the assets of the fmancial institution; or c. If physically issued to the holder but not registered with the issuer or its agents, must be immediately placed for safekeeping in a secured vault. 2. The Village may also receive bank trust receipu in return for investment of surplus funds in securities. Any trust receipts received must enumerate the variotrs securities held, together with the speck ntunbcr of each security held. The actual securities on which the trust receipts are issued may be hold by any bank depository chartered by the Federal Government, the State of Florida, or any other state as defined in Florida State Statute 658.12, or by a national association organized and existing under the laws of the United States which is authorized to accept and execute trusts and which is doing business in the State of Florida. Sale of Securities When invested funds aze needed in whole or in part for the purposes originally intended or for more optimal investments, the Chief Financial Officer may sell such investments at the then prevailing mazka price and place the proceeds into the proper account or fund. Policy Considerations 1. Exemptions: Any investment held prior to the adoption of this policy that does not meet the guidelines of this policy shall be exempted from the requirements of this policy. At maturity or liquidation, such monies shall be reinvested only as provided by this policy. 2. Amendment: This policy shall be reviewed on an annual basis. The Village Council must approve any changes, as well as the individual(s) chazged with maintaining internal controls. Deleeation of Authority The Finance Duector is the Chief Financial Officer of the Village and is tesponstble for investment decisions and activities. The Village may retain a Registered Investment Advisory Firm to assist in the invcsmtent management process. No person may engage is as investment transaction except as provided under the terms oC this policy and the procedures established hereunder. Authorized signatories aze the Chief Financial Officer, the Village Manager and ilte Village Mayor. Thcse individuals are also authorized to initiate wue transfers for the Village. All invesument transactions require approval by two of the depository signatories. • 35 Accounting Policies & Procedures Dlanual Village of North Palm Brach Inventories The Village Public Services Department keeps the inventory of tires, gas, and garbage bags. These inventories are maintained by the Department of Public Services. Tves also includes miscellaneous parts and supplies associated with repairs and maintenance. Gas usage is monitored daily by vehicle. Totals are accumulated monthly and reconciled to beginning and ending meter readings. Thesc are maintained on a departatental basis for proper expense allocation. These reports are submitted to the Finance Department monthly. Public Smices also maintain inventories of garbage bags and merchandise. u 36 • accounting policies R Procedures Dlanual Village of \or[h Palm Beach Payroll and Personnel Administration For most local governments, personnel service costs (payroll and related fringe benefits) constitute the single lazgest category of expenditures. Proptt control over and accounting for personnel service costs is therefore vital to fmancial control. Effective payroll administration begins well before the preparation oC payroll checks. The payroll procedures of the Village are designed to permit the accurate and timely transmission of the payroll checks. Personnel Administration The Assistant Village Manager acts as Personnel Managtt for the Village of North Palm Beach. The Village Personnel Policies are governed by: 1. Personnel Rules and Regulations 2. Various Union Contracts The Assistant Village Manager is responsible to over see the new hues, temilnation's, pay scales and other personnel related matters. Personnel action form is used for all personnel related matters. New Emplovees Each department is responstble for hiring new employees. All new employees receive a new employee package. Departrent Heads are required to send the following forms for all new employees to the Assistant Village Manager for review: 1. Employmrnt Application 2. Personnel Action Form 3. Oath 4. W-4 5. I.9 6. Managed Care Arrangement 7. Copy of Drivel s License 8. Copy of Social Security Card 9. Long-term Disability (full-time employee only) 10. Hospitalization (full-time employee only) 11. Flex (Cafeteria Plan) (full-time employee only) Assistant Village Manager reviews the paperwork of the new employees and sends it to Finance Department for activation. • 37 Accounting Policies & Procedures Manual Villagr ot'~'orth Palm Qeach • Payroll _ The Village pays wages on a weekly bazis. The Finance Department submits an comings worksheet to each department which lists each employee, the categories of payment, i.e., regular pay, overtime pay, vacation, etc. The Department Head allocates the number of hours worked among those categories. Any category outer than regular pay must be supported by approved personnel actlon form. Once completed by the Department Heads, the comings worksheet and supporting documentation is resumed to the Finance Departrnent for processing. Departrnents use their own method for recording time for employees. Accounts Payable Clerk is resporuble for all payroll related matters and producing reports and perforating periodic procedures. • 38 .~ccountine Policies & procedures Manual Village ot'North Palm Drac6 General Ledger and Financial Reporting The Village utilizes a double entry system that includes the grneral ledger, books of original carry and suitable subsidiary records. The general ledger infortnadon is stored in a general ledger system. The books of original entry are posted and the general ledger and subsidiary ledgers arc kept current and balanced to the control accounts monthly. Physical safeguards are maintained over the accounting records. Aback-up copy, on computer duk/tape, of the accounting system is updated daily and kept in a safe place. Access to accounting records is restricted to employees with designated responstbility for the records. Chart of Accounts The Village incorporated the Uniform Accotmting System Chart of Accounts developed by the State of Florida Department of Banking and Finance as an integral part of its accounting system. The general ledger account classification structure, as defined by the Village, consists of 10 digits. Funds While each year's budget will determine which funds are used, in general, the Village may utilize the following funds: 1. GcneralFund 2. Enterprise Funds 3. Trust and Agrncy Funds 4. General Fixed Assets 5. General Loag-terrrt Debt 6. Capital Projects Fund Department Types Governmental Funds Village Council Village Manager Village Clerk Finance Legal Planning and Community Developmrnt General Services Expendittue Law Enforcement Police Forfeiture Trust Expenditure Fire Department Emergency Medical Services Administration -Public Works Facilities Maintenance Sanitation Streets Vehicle Maintenance Parks Library Recreation ' Special Events Debt Service Reserves • 39 • lceuumir._ Policir~ ~ Pro~edurrs Manual \'illagr ul ~bnh Palm Brach Enterprise Funds Golf Course Golf Shop & Driving Range Terris Pool Restauran[ Country Club Administration Clubhouse Grounds Debt Service Reserves Account Types Assets and Other Debits This heading covers not only assets, but also those items that are not assets at the date of the balance shee4 but are expected to become assets at some future time. This heading also includes accounts, which normally have debit balances even though they are not assets. Liabilities and Other Crediu This heading covers not only liabilities in existence at the date of the balance sheet, but items which may become liabilities at some future time, and other accounts which normally carry cmdit balances. Revenues Revenues may be operationally defined in a governmental fund accounting context as "all increases in fund net asseu except those arising from interfund reimbursements, interfund operating and residual equity traasfen, or long-term debt issues". Expenditures The term "expenditures", whether used in connection with the accrual or accrual basis of accounting, denotes the cost of goods delivered or services rendered (whether paid or unpaid) including expenses, capital outlays, and the provisions Cor debt retirement where such debt is not reported as a liability of the fund from which it was retired. Each expenditure should be analyzed and classified individually by transaction code, and object regardless of the organizational unit incurring it. Cost allocation tray be necessary where material amounts of expenditures for a single organization unit cross functioq-activity lines. Journal Entries Journal entries are used to record all fmancia] transactions in the general ledger. There arc two types of journal entries. Journal entry sources are used to identify where the journal entry originated. The sources are: Manual Journal Entry Payroll System Accounts Payable Cash Receipts Computer Generated Journal Entries Upon completion of their work, other accounting personnel (i.e., Accounts Payable, Payroll, and Accounts Receivable) update thew journal entries automatically on the computer system This is accomplished by 40 Accrnmtins Policies & Procedures Manual Village of \orth Palm [3each • updating the completed work into a holding file where it is kept until the Accountant posts the work into the actual general ledger file. Various checks and balances are completed along the way to insure accuracy. Manual Jottmal Entries Journal entry forms are prepared to document all manually prepazed journal entries and are the source document to record information in the general ledger. Various accounting personnel are responsible for preparing this type of joumal entry. The Finance Duector approves each manual journal entry before it is entered into the accounting system. The document contains the following data: • Transaction date • Journal entry numbtt • Account number (s) • Account title • Transaction debit or credit amount (s) • Transaction description Supporting documentation, where applicable, for the transaction being recorded is attached to the joumal entry form. The joumal entry forms and attached supporting documentation are filed by the month in which thry occurred. Daily, the computer generated joumal entries and the manual joumal entries are updated from the hold files to the general ledger in accordance with the automated accounting based softwaze. Financial Reporting Financial statements and schedules are prepazed from the accounts and related records. Monthly financial reports and reports of operating results are prepazed to facilitate management control of financial operations and to allow public and legislative oversight of the Village's operations. The following end of the month reports are prepazed by the Departmrnt Accountant and the Finance Duector on a monthly basis: • Detail expense Report -Budget and Actual -Month and Year To Date • Revenue Report -Budget and Actual -Month and Year To Date • Trial Balance • Revenue and Exprnditures Comparison -Current vs. Last Yeaz Analytical Review Monthly all general ledgtt accounts are reviewed. Each staff member is responsible for those accounts under their control. If applicable, commutative results from the general ledgtt accounts are collected in various spreadsheets. The results from the spreadsheets are then reviewed balanced and/or matched to independent information. Accountant D and Fimmce Duector arc responstble for overseeing the reviews. • 41 :accounting Policies & Procedures Alanual Village of'~onh Palm Brach • Annual General Purpose Financial Statements The Village requires that an annual audit of iu accounts and records be completed after the end of iu respective fiscal yeaz by an independent certified public accountant retained by it and paid from iu public funds. The audited general purpose financial statemenu contain the following sections: • Report of Independent Certified Public Accountanu • Combined Balance Sheet -All Fund Types and Account Groups • Combined Statement of Revenues, Expenditures and Changes in Fund Balances -All Governmental Fund Types • Statement of Revenues and Exprnditures -Budget and Actual -Special Revenue Fund • Compliance Report based on an audit of the general purpose financial statemenu performed in accordance with govemrttent auditing standards • Report on the internal control structure in accordance with governrttent auditing standazds • Report on commenu to management • GASB Reporting Requtremenu • 42 lttountine Pulicirc S Yroerdures Manual 1'ill~~r ul \'orc'i Palm 13rath 1 U Travel Purpose The purpose of the Travel Regulations is to provide a policy for guidance of erttployees and officials who are required to travel on official business of the Village, to attend schools, conferences, seminars, conventions, or other designated purposes. Objective The primary objective is to provide a procedure to be used when making claims for reimbursement of travel and supplementary expenses by travelers and payment of these allowances by the Finance Department. This procedure is applicable to all Village officials, employees, and authorized persons when making claims for travel expense allowances; all departmenddivision supervisors, administrators, the Village Manager when authorizing and approving travel, and the Finance Department when paying travel expenses. Authority to Incur Travel Expense All travel must be sanctioned by budgetary appropriation. Additional authorization for Dcpartrnent Head travel must be obtained from the Village Manager. The Village Manager tray promulgate such rules and regulations, and prescnbe such forms as shall be necessary to effectuate the purposes of this manual. a. All regular travel by employees must be approved in advance by the respective Department Head. b. The mode of travel will also be approved in the same manner as the travel. c. Local mirage will be authorized by bud¢etary action and, in addition, approved in advance by rho Department HeadiDivision Supervisor. Approval will be made by memorandum to the Finance Director. Authority to Incur Supplementary Expenses Authorization to incur supplementary expenses must be by budgetary action or special authority granted by the Village Manager. The following aze the only expenses authorized to be claimed as travel expenses: a. Transportation Allowance: i. Fare -Commercial fares, utilizing the most direct route available to the carrier used. ii. Mileage -The mileage allowance shall not exceed the latest allowable IRS per mile rate, and shall be established in the annual budget for mileage traveled Dither during regulaz travel or local trips in the immediate vicinity of the Village. b. Lodging: Reimbursement for lodging shall be at the current single occupancy rate and fully supported by said bills. Employee should seek the commercial rate whenever possible. u 43 Accounting Policirs R Procedures Manual ~~ c. Meal Allowance: Villagr ofAorth Palm beach A per diem of $40/day will be allowed for meals, i.e. breakfast, Sg; lunch, 512; dinner, 520. Reimbursement for reasonable and necessary expenses in excess of the per diem rate will be permitted if authorized by the Village Manager and must be substantiated by receipts. d. All allowance rates for succeeding years shall be established concurrently with passage of the annual budget appropriation ordinance. e. Other Expenses: The following incidental travel expenses will be reimbursed. Receipts should accompany requests for payment, when available. 1. Taxi or limousine fares 2. Ferry fazes, and bridge, road and tunnel tolls 3. Storage or pazking fees 4. Communication expenses (business only) 5. Conference or convention registration fees if attendance at such conference or convention serves a duect public purpose with relation to the person attending such meetings. Mode of Travel Travel by Common Carrier All travel shall be upon established direct routes, and shall be at coach or tourist faze rates. If a traveler elects to take an indirect roue for his/her convenience, costs in excess of the rate for a duect route passage shall be borne by said traveler and he/she shall be reimbursed only for such duect route rate. The Village Manager shall determine the most cost effective method of travel for each trip, and in making his detemilnarions, shall consider the following conditions: 1. The nature of business. 2. The most efficient and economical means of travel (considering the time, cost of transportation). 3. The number of persons making the trip and the amount of equipment or material to be transported. , Travel by Private Vehicle a. The use of a privately owned vehicle for official travel in lieu of public vehicle or common carrier may be authorized by the Village Manager, if a publicly owned vehicle is not available. If traveling by privately owned vehicle, the traveler shall receive reimbursement of a mileage allowance authorization by the Village policy. b. All mileage shall be computed from point of origin to point of destination and, when possible, shall be computed on the basis of the currrnt map of the State Road Department. Vicinity mileage necessary for conduct of office business is allowable but must be shown as a separate item on expense vouchers. • c. No traveler shall be allowed mileage or transportation expense if be/she is gratuitously transported by another person, or when transported by another traveler who is entitled to mileage or transportation expense from the Village. , 44 \r~amting Pulicirs C Procrdure> Manual t~illa~e ui Xurdt Palm Ctra:h • Advance Travel Allowance Advance payment of travel allowance is permitted provided that an advance is requested and approved by the Village Manager prior to disbursement. Advance travel payments are subject to the following rules: a. The Village shall advance to employee, prior to Navel, per dicm for meal allowance, cost of hotel, tuition and registration fees which have not been prepaid by the Village. Etnployees are encouraged to request the checks trade out dvectly to hotels and organizations to avoid paying sales and other taxes. Sales tax paid by the employee for hotel is not reimbursable. b. Separate requests must be submitted for each person making the trip. Payment will be made with separate checks issued to oath person. t. Requests will be supported by a copy of the applicable meeting brochure and will be submitted soon enough to allow sufficient time for processing and preparing checks. d. Cbeck Issue Authorization form must be authorized by the Department Head and approved by the Village Manager. This form is then submitted to the Finance Department for check issuance. e. Upon return from a trip, all receipu and supporting documentation must be submitted with a completed Report of Travel Expense form If additional monies are owed, a check request form should be attached. Mottles not spent should be returned to the Finance Department with the Report of Travel Expenses. Travel Expense Procedure Travel Expense Reimbtusement Travel expense will be reimbursed at the rates prescnbed and authorized by the Village politics. A Report of Travel Expenses form, receipts and a Check Issue Au[horization must be submincd to the Village Manager for approval. Payment for Travel Upon approval by the Village Manager, checks will be issued by the Finance Department to the individual requesting payment. • 45 Accounting Policies R Procedures Manual Villagz of \orth Palm Bzadi Definitions Autborked Travel That travel approved by Village Council through an appropriation ordinance and approved in advance by the Village Manager; or travel approved by Village Council extemporaneously. Class A Travel Continuous travel of twenty-four hour or more away from the Village which involves overnight absence. Class B Travel Travel for a short or day trip not involving overnight absence. Common Carrier Train, bus, commercial airlines operating scheduled flights, or rental can of an established rental fum. Other Ezpenses Other incidental expenses for which reimbursement has bern authorized, including: a. Taxi faze, forty fazes and tolls b. Auto storage and parking fees c. Communication expenses d. Miscellaneous expenses Supplementary Other expenses authorized by Council or budgetary action which are not Ezpenses considered part of travel; e.g., spouse accompanying traveler with special permissio4 entertaining during and as a course of travel, etc. Traveler Any person authorized by law to travel a Village expense while traveling of official business. Travel Day A period of twenty-four hours consisting of four quarter of six hours each. Travel Expense The usual ordinary and incidental expenditure necessarily incurred by a traveler. Travel Period A period of time betwern the time of departure and time of return. Village The Village of North Palm Beach, Florida. Village Official An individual who in the performance of his official duties is vested by law with powers of governmrnt and who is elected by the people, or appointed by the Village Council and has jurisdiction extending throughout the mmicipality, or any person lawfully serving as either of the foregoing classes of individuals as designee or successor. 46 Accoun[ing Policies and Procedures Manual Village of \or[h Palm Beach • Appendix A Resolutions and Ordinances 47 RESO[AJITON FA. 53-80 • A RESOI1JiTON OF TF~ VIlIq(£ OOtk1CIL OF NORTEI PAIM~BFAl.Oi, FLARILI4, SFTTTFC FORTH 1HO6E PERSONS kEp SIWII. SIQi APD COIRtIIILSIGN CHECKS GR WTIEDRAWAL ORCERS ON ALL DER~SITORIES OF Fi1DOS OF 1HE VD]AGE OF NORTH PALM BFliCH. BE IT RESOLVID BY 1HE VIIlAGE COUI~IL OF NORTH PALM BEACH, FLARIII4: Section 1. The Village Manager or Finance Director shall sign all checks dram on any depository of Village funds. Section 2. All checks in excess of $1,000.00 drawn an 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 sigi such checks, they shall be signed by the Vice Mayor and/or the Mayor. Section 3. Any depository of Village finds of the Village of North Palm Beach :ray rely upon the su~'~urity herein conferred upon the persons stated to withdraw funds frm bank accents owned by the Village of Wrth Palm Beach until delivery to it of a Certificate of the Village Clerk setting forth the persons holding the offices set forth above, and such authority shall include char~cs dra~.n co the order of any of said persons. Section 4. The Village Clerk is hereby directed co deliver a certified copy of this Resolution to all depositories of Village funds as soon as possible. Section 5. All Resolutions in conflict with this Resolution are hereby repealed. Section 6. This Resolution shall take effect imnediately upon passage. PASSED AND ADOPTED 11fIS 23RD MY OF OCTOBER, 1980. • ATL?Sf: 48 RESOLUTION 18-96 • A RESOLUTION OF THE VILLAGE COUNCIL OF NORTH .PALM BEACH, FLORIDA, AMENDING THE PURCHASING RULES AND REGULATIONS FOR THE VILLAGE OF NORTH PALM BEACH TO ADD SECTION 11 FOR ACCOUNTING AND RECORDING OF FIXED ASSETS AND AMENDING SECTION 5.01 TO INCREASE THE PURCHASE ORDER REQUIREMENT FROM $200.00 TO $500.00 FOR THE PURCHASES. NO~t'. THEREFORE. BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH. FLORIDA: Section 1. The Purchasing Rules and Regulations of the Village of North Palm Beach to include Section 11 titled "Fixed Assets Accounting and Recording" attached hereto as Exhibit ., ~„ Section ?. Section 5.01 of the Purchasing Rules and Regulations of the Villzge of \orth Palm Bench is hereby amended to read as follows: ">.O1 Use of Purchase Orders For all regular purchases of $500.00 or more the purchase order will be used. Exceptions are enumerated in number i.05 and sections 6 and 7" Section 3. This Resolution shall take effect immediately upon passage. PASSED AND ADOPTED THIS 14th DAY OF arc , 1996. MAYOR ATTEST: • VILLAGE CLE 49 RESOLUTION N0. 44-98 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, ADOPTING A POLICY AS TO THE AUTHORITY OF THE VILLAGE MANAGER TO SIGN CONTRACTS ON B'cHALF OF TH'c VILLAGE OF NORTH PALM BEACH; AND, PROVIDING FOR AN EFFECTIVE DATE. BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA: Section 1. The Village Council of the Village of North Palm Beach, Florida, does hereby authorize the Village Manager to sign contracts on behalf of the village that involve expenditures for goods and services that are lire items within the Village budget and do not exceed Five Thousand (SS,000.CO) Dollars. Section 2. Frior to execution of contracts, the Village Manager shall first comply with the purchasing regulations adopted by the Village Ccur.cil and have the contracts reviewed by the Village Attorney for legal sufficiency. Section 3. This Resolution shall take effect immediately upon its adoption. PASSED AND ADOPTED THIS 24th DAY OF September 1998. • (Village Seal) ATTEST: ~ ~~j/~ VILLAGE CLERK y~~~" 50 • RESOLUTION NO. 51-9.8 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, ADDING A SUBSECTION "f" TO SECTION 2.01 OF SECTION 2, PURCHASING POLICY, OF THE PURCHASING REGULATIONS OF THE VILLAGE TO PROVIDE THAT THE VILLAGE MANAGER SHALL COMPLY WITH RESOLUTION N0. 44-98 WHEN AUTHORIZING PURCHASES THAT INVOLVE WRITTEN CONTRACTS; AND, PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Village Council of the Village of North P2Im Beach, Florida, enacted Resolution No. 44-58 which adopted and set forth a policy as to the authority of the Village Manager to sign contracts on behalf of the Village; and WHEREAS, the Village Council is desirous of amending the purchasing regulations of the Village to specificzlly provide that the Village Manager shall comply with Resolution No. 44-98 when authorizing purchases that involve written contracts. BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA: ecti n I. The Village Council of the Village of North Palm Beach, Florida. does hereby amend the purchasing regulations of the Village by adding a subsection "f' to Section 2.01 of Section 2, Purchasing Policy, and to read as follows: "f. The Village Manager shall also comply with Resolution No. 44-98 of the Village when authorizing purchases that involve written contracts. A copy of Resolution No. 44-98 is attached as Appendix 1;" 51 • i n ~ This Resolution shall take effect immediately upon its adoption. PASSED AND ADOPTED THIS 12th DAY OF November , 1998. ;Village Seal) ATTEST: VILLAGE CLERK • sz • RESOLUTION 69-99 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, ADDING A SECTION 2.02 TO THE PURCHASING RULES AND REGULATIONS FOR THE VILLAGE OF NORTH PALM BEACH, ACCEPTING THE VENDOR CONTRACTS FOR LABOR AND MATERIALS AS AWARDED BY PALM BEACH COUNTY, THE STATE OF FLORIDA, THE PALM BEACH COUNTY COOPERATIVE PURCHASING COUNCIL, AND OTHER GOVERNMENT AGENCIES, AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE VILLAGE OF NORTH PALM BEACH, FLORIDA: Section 1. The Village Council of North Palm Beach, Florida, does hereby amend the Purchasing Regulations of the Village by adding Section 2.02 of Section 2 Purchasing Policy, and to read as follows: "2.02: Contracts awarded by Palm Beach County, the State of Florida, the Palm Beach County Cooperative Purchasing Council, and other Government Agencies, for labor and materials are accepted by the Village of North Palm Beach in accordance with their terms." _• Section 2. This Resolution shall take effect immediately upon passage. PASSED P.ND ADOPTED THIS 9th DAY OF DECEMBER, 1999. ATTEST: VILLAGE CLERK 53 RESOLUTION 50-2001 CJ • A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, AMENDNG SECTION 2.01(A) AND (B); 6.02(B) AND (C); AND ADDING A SECTION 6.03 TITLED EMERGENCY BUDGET TRANSFERS TO THE PURCHASING REGULATIONS AND PROVIDNG FOR AN EFFECTNE DATE. BE IT RESOLVED BY THE VILLAGE COUNCIL OF IQORTH PALM BEACH, FLORIDA: Section 1. The Village Council of the Village of North Palm Beach, Florida, does hereby amend section 2.01(a) and (b); 6.02(b) and (c); and adds section 6.03 to the Ptuchasing Regulations of the Village, to lead az follows: 2.01(a) "All purchases having an estimated cost in excess of S 10,000:" 2.01(b) "All purchases having an estimated cost between S 1,001 and S 10,001:" 6.02(b) `'Emergency purchazes from S1,001 to 510,000, mazk invoices "Emergency Purchases" and contact the Village ivtanacer for approval, subject to confirmation by the Village Council." 6.02(c) "Emergency purchases S 10,000 and over are not to be made without the approval of the Village Council." 6.03 EMERGENCY BUDGET TRANSFERS Emergency Budget Transfers Procedures for Emergency Purchases are az follows: (a) Emergency budget transfers for up to 51,000 between the existing budgeted line items of the same division require department head approval, subject to confirmatioa by the Village Manager. (b) Emergency budget transfers up to 55,000 among existing budgeted line items of the existing budget (regardless of department) require Village Manager approval, subject to confirmation of the Village Council (c) Emergency budget transfers over 55,000 require Village Council approval. Section 2. This resolution shall take effect immediately upon passage. A sa • ORDIi`fANCE iYO. 15-?001 .~` ORD[NA\CE OF THE V(LLaGE COL~'NCIL OF THE VILLAGE OF NORTH P.-~L~I BEACH. FLORIDA. REPE.-ELI\G SECTION 2-~l. ALLO~b'ABLE INVEST~fE~iT .aCTI~'ITY FOR VILL.-AGE FL1DS. OF ARTICLE [ OF CHAPTER 2. AD~f[\ISTR~TIOV. OF THE CODE OF ORDINANCES OF THE VILLAGE A\'D CREATING A NE~V SECT[O~I 2-1. I~IVES'ItiIENT POLICY' OF THE VILLAGE. OF THE CODE OF ORDINANCES OF THE VILLAGE: PROVIDING FOR SEVERAB[LITY: PROVIDING FOR THE REPEAL. OF.4LL ORDIVA\CES OR PARTS OF ORDINANCES IN CONFLICT HEREwTTH; AND. PROVIDING FOR AN EFFECTIVE DATE. BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH. FLORIDA: rction 1. The Village Council of the Village of North Palm Brach. Florida. does hereby repeal Srction 2--). Allowable Im~estmrnt Acti~•ities for Village Funds. of Article I. Chapter 2. Admi,^.istration. of the Codr of Ordinances of the ~'illa¢t. ~ectien ~. The ~'illagc Council of tht Village of North Palm Brach. Florida. dots hrreb~• crrztr a nr«~ Srction 3-~. Irn'estment Policy of the Village. of the Code of Ordinances of the Village. and to read as follo«-s: °Section 2-~. Im•estment Polic}• of the Village (A) Purpose The puroosr of this statement is to set forth the pelic}• and objtcti~•cs go~~rming the in~~tstmrnt managtmtnt of public funds of the ~'illagt of North Palm Brach. Florida (the Village) that are in cxcrss of the amounts nttdtd to meet current expenses. This im•estment policy places the highest priorin• on tht safety and liquidity of funds. (B) Scope This in~•tstment police applies to all the irn•estment acti~•ity ofehr Village. except for its employees' pension funds. ~~•hich arc organized and administered separately. or for funds related to the issuance of debt ~~•hrre there are other existin¢ policies or indentures in effect for such funds. FundsIncludrd: • (a) General Fund (b) Special Re~•enue Funds (c) Enterprise Funds (d) Debt Sen•ict Funds (r) Any new funds created by the go~•eming body unless specifically exempt. ss • (C) Objecti~•es • The priman• objecti~°es. in priorit}" of order, of im•estment activities • shall be Safen• of principal, liquidit}• of funds. and•marimizinc im•estment income. (1) Safen• Safen• of principal is the foremost objecti~•e of investment activities. Investments shall be undertaken in a manner that seeks to insure presen"ation ofcapital in the overall porfolio. All other im"estment objectives are srcondan• to the Safen• of principal. The objective «•ill be to mitigate credit risk and interest rate risk. (a) Credit risk Credi[ risk. the risk of loss due to [he failure of the srcurit}• issuer or backer. will be minimized bv: (i) limi[ing investments [o the safest n•pes of securities. (iii pre-quaiit~"ing the iinarral institutions. broker"dealers. intermediaries. and advisers with which the ~•illage will do business. (iii) di~•ersif}•ine [he im•estment portfolio so that potential losses on individual securities «ill not place an undue tinarcial burden on the Villase. and (iv) monitoring 211 of the Village's im•estments to anticipate and respond appropria[el}• to chancing market conditions. (b) Interest. Rate Risk The Village «ill minimize the risk that the market valut of securitits in the portfolio «•ill fall due to chances in general interest rates. b}•: (ij structurin¢ the investment portfolio so tbat the securities mature to meet cash requirements for ongoinc operations. [hereb~• avoiding the need to sell securities on the open market prior ro maturity, and (ii) im~estinc operating funds primaril}• in short-term securities. money market mutual funds. or similar im•estment pools • unless it is anticipated that long-term securities can be held to maturity without jeopardizing the liquidin• requirements. 56 • (2) Liquidih• The investment portfolio shall remain sufficiently liquid to meet all operating requirements that• may' be reasonably anticipated. This is accomplished by structuring= thr portfolio so the[ the securities mature concurrent with cash needs to meet anticipated demands. Furthermore. since all possible cash demands cannot be anticipated. the portfolio should consist largely of securities «'ith active secondan• or resale markets. Portions of the portfolio may be placed in interest-bearing checkin¢!savings accounts with qualified public depositories. Securities and Exchange Commission registered money market funds «~ith the highest credit quality rating from a nationall~~ recognized racing agency, or local government investment pools ~~~hich oft:r same-day liquidin• for short-term funds. (3) Investment Income Without compromising safety and liquidin•. the highest possible total return should be obtained on the Village's funds. income «ill include interestrdividends received as well zs any realized or unrealized gains z; c losses of principal o[ the underlying securin-. (D) PERFOR.~IA~CE ~fEaSCRE~lE:~iTS The invtstment income objective is to regularly exceed the avtrage rate of return on three month L'. S. Treason' Bills. or the average rate on Federal Funds. whichcver is higher. These indices are considered benchmarks for risk-free ir^,vestment transactions 2nd therefore comprise a minimum standard for the portfolio's rate ei return. The investment program may seel• to augment returns above this t^.reshol~. consistent with risk limitations identified herein and prudent im•estment erinciples. (E) PRL~DE~CE a\D ETHICAL STANDARDS (1) Prudence The randard of prudence [o be rued shall be the''prudent person rule: ` «•hich states that: Investments should be made «•ith judgment; and care. under circumstances thrn prevailing. which persons of prudence. discretion. and in[elligence exercise in the management of their o«n affairs. nut for speculation. bu[ for the investment. considering the probable safety of their capital as well as the probable income to be derived from tht irivestmtnt. • The Chief Financial Officer. or other persons performing the investment functions. acting in accordance'«•ith «Titten policies and procedures, and exercising due diligence shall be relieved of personal rtsponsibility for an individual securi[y's credit risk or market price changes. provided devia[ions from expectations are reported immediately and that appropriate action is taken to control adverse developments. s't • (Z) Ethical Standards • Otlicers and emplo}•ees im•oh•ed in the investment process shall refrain tiom - personal business activity that could contlict with the proper t~ecu[ion and management of the investment program, or that could impair their abilit}• to make impartial decisions. Employees and investment officials shall disclose any material interest in financial institutions with which that' conduct business. They shall further disclose any personal tinanciaVinvestment posi[ions that could be related to the performance of the investmen[ portfolio. Employees and officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the Villa¢e. (F) AUTHORIZED I~VEST~[E\"i'S The Village may invest and reinvest. in `accordance within the objectives stated in subsection III. in the follo~vin¢: (a) Interest-bearing checking or savings accounts in qualified public de_ositories z; dttined in Florida State Statute 330.02 (bt Interest-bearing time dcposiu in qualified public deposirries as defined in Florida State Statute 230.0_'. (c) The Local Government Surplus Funds Tn:st Fund or an}- in[ergovemmenta! im•estment pool authorized pursuant to the Florida [nurlocal Cooperation .~.ct as provided in Florida State Statute 163.01. td) Secur.tits _nd Exchange Corfunission registtred money r,.arket iun~; with the highest credit quality rating from a rationall~• recognized ratinc aaencv. (e) Direct obligations of the United States Treasury. (f) Federal agencies and instrumentalities. (g) Securi[ies ot: or interest in. an}' open-end or closed-end management- tvpe investment compan}• or im•tstment trust rc¢is[ered under tree Investment Company ?.ct of 19-F0, 15 U.S.C. sections 30a• 1 rt seq.. as amended from time to time, provided that the portfolio of such imrostmcnt company or im•estment trust is limited to obligations of the L`nited Slates Government or arn• agency or instrumentalin• thereof and to repurchase agreements fully collateralized by such United States Government obligations. and provided chat such • im~estment company or investment trust takes deliven• of such collateral ei[her direct)}• or through an authorized custodian. (h) Other investments authorized by law• or by ordinance b}• the Village. sa • (G) ~IATC`RITY AND LIQUIDITY REQUIREMENTS The Village's in~•tstment portfolio shall be structured to provide sufficient liquidity - ro pay obligations as they come due. Furthermore, to the erttnr possible. an attempt ~~~ill bt made to match im•estmen[ maturities with kno«r cash needs and anticipated cash flow requiremen[s. Unless matched to a specific cash tlo«•. the Village «ill not directl~• im•est insecurities maturing more than three }•ears from the date of purchaze. (H) PORTFOLIO COMPOSITION The following art the limits for im•estments and limiu on security issues, and maturities in the portfolio. The Chief Financial Otitcer has the option to fu;,i;tr restrict in~•estment in seltcted instruments. to conform to the-present market conditions. Authorized Im•estments ~[aturin• Ranae Maximum °io [nteres[-btarin¢ chtckin_¢ or sa~•ings accounts \::-~ f VO°.'o Interest-bear,'ng time deposiu 3 years _'0?0 The Local Go~•ernment Surplus Funds Trust Fund 'inte-.eo~•er:unental ~ im•estment pool \: ~ 100°0 Securities and Exchanat Commission registered money marltt funds N/A :0°0 Direct obligations of the L•nittd Starts Trtasun• 5 }•ears 80°'0 Federal agencies and instrumentalities i }•ears 80°.0 Open-end or closed-end management- n•pe im•es[mentshrusts 5 years 30°0 (I) RISK A\D DIVERSIFICATION assets held shall be di~•trsitied to control the risk of loss resulting from the o~~tr concentration of assets in a specific maturin•, issuer. instrument. dealer. or bank through «•hich these instruments are bought and sold. Diversiticationserategies shall bt reviewed and revised periodically as deemed necessan• by the Chief Financial Officer. - (•n ACTHORIZED INVESTMENT INSTITUTIONS AND DEALERS :~ list «•ill be maintained of financial institutions authorized to provide im•estment sen•icts. [n addition. a list also «ill be maintained of approved security broktrs.`dealers selected by creditworthiness. 59 • (!:) THIRD-PARTY CUSTODIAL AGREEhIENTS All securities purchased by the Village shall be properly designated as an asset of the Village and shall be held in safekeeping with athird-pan}• custodial institution. The third-pa;,}• custodian ~~•ill bt required to designate all securities held as assets of the Village. Rio «'ithdra«al of securities. in «•hole or in part. shall be made from safekeeping. except b}'the Chief Financial Officer. or his'her respecti~r designees. Securities trartsactions brR~•een a broktr-dealer and tht custodian invol~•ing purchase or sale oti securities by transfer of money or securities must be made on a ''drli~~en• ~~s. payment' basis. if applicable. [o ensure chat the custodian «ill ha~~e the srcuri[~• or money, as appropriate. in hand at the conclusion of the transaction. (L) `[ASTER REPL"RCHASE AGREE}PENT All appro~~ed institutions and dealers transacting repurchase agreements shall execute and perform as stated in the [aster Repurchase Agreemtn[. .411 repurchase agreement transzctions shall adhere to the requirements of the ~fastcr Repurchase A¢rtrment. (~I) BID REQL'IRE~IENT .fin appropriate mzturin• date «•iU br determined for each im~tsrrttnt based on cas`;- tlo~~• nerds and marlrt conditions. Based on Chest considerations. the Chief Financial Ot[tcer «•ill analyze and select one or more optimal types of in~~estments and comprtiti~'el}' bid the securin• in question «fitn feasible and appropriate. Except as othernisc required by la«•. the bid deemed to bast mat the im•estment objecri~•es specified in subsection I[! must be selected. (N) INTER_~AL CONTROLS The Chief Financial Otitcer shall establish a system of internal controls designed to pre.•tnt losses of funds. «•hich might arise from fraud, tmplo}•er error. misrepresentation b.• third parties. or imprudent actions by employers of the ~'illa¢e. Such internal controls shall be in ~~riting and made a pan of the Village's operating procedures and shall bt re~•it~~•ed by independent auditors during the course of periodic financial audits as may br required of the Village. (O) CO~TI~L'ING EDCCATIO~ Tht Chief Financial Officer shall complete tight (3) hours of continuing education annually in subjects or courses related to im•estment practices and products. (P) REPORTING • The Chief Financial Officer shall prepare an annual im•estment report. «'hich shall include securities in the portfolio by class and type. book ~•alue, income earned, and market ~•alue as of the report dart. Tht report «ill be pro~•ided to the legisl9ti~'e and governing bod}• of the Village. The report shall be a~'ailable to the public. 60 (Q) SECURITIES; DISPOSITIO\ • (I) Even' securin- purchased on behalf of the Village must be properly earmarked and: • (a) If registered with [he Truer or its agents. must be immediately placed for safekeeping in a location that prottcts the Village's inttrest in the security: (b) [fin book entn• form. must be held for the credit of the governing body by a depositon• chartered by the Federal Go.-emment. the State of Florida. or any other state or territon• of the United States «-hich has a branch or principal place of business in the State of Florida as defined in Florida Statute Section 653.13. or b}• a national association organized and existin¢ under the la«s of the United States which is authorized to accept and txercise trusts and which is doing business in the State of Florida. and must be kept in the depository in an account separate and apart from the assets of the financial institution: or (c) Ii physically issued to the holder but not registered «ith the issuer or iU agen[s. must be im~mtdia[ely placed for safekeeping in a sec~_red vault. (_') The Village may also receive banl• trust receipts in return for investr.,ent of surplus funds in securities. any trust receipts received must enumerate the various securities held. together with the specific number of each securit}• held. The actual securities on «•hich the wst receipts are issued may be held by env bank depositon• chartered by the Federal Government. the State of Florida. or any other stale as defined in Florida State Statute 653. l3. or by a national association or¢anized and existin¢ under the la«•s of the L'r,ited States which is authorized [o accept and execute trusts and which is doin¢ business in the State of Florida. (R) SALE OF SECURITIES ~L'hen im•ested funds are needed in whole or in part for the purposts originally intended or for more optimal im•estments. the Chief Financial Officer may ;ell such im•estments at the then-prevailing market price and place the proceeds into the proper account or fund. (S) POLICY' CO\SIDER4TIO~S (I) Exemptions _ - An}• investment held prior to the adoption of this policy that does not meet • the guidelines of this polic}' shall be exempted from the requirements of this polic}•..At maturit}• or liquidation. such monies shall be reim•ested only as provided by this polic}•. 61 (2) Amendments • This polic;• shall be ree•ie~ved on an annual basis. The Village Council must approve am• changes. as well as the individual(s) charged with main[ainin¢ internal controls. (T) DELEGATIOs~i OFAL`THORITY" The Finance Director is tht Chief Financial Ot~icer of the Village and is responsible for investment decisions and activities. The Village mad retain a Registered Im•estment Advisor' Firm to assist in the im•estmen[ management process. \o ,person ma~• engage in an im•estment transaction except as provided under the terms of this policy and the procedures established hereunder. Authorized signatories are the Chief Financial Officer. the Village Manager and the Village ~~fapor. These individuals are also authorized to initiate wire transfers for the Village. All investment transactions require approval by nvo of the depositon• signatories."' Section 3. If am' section. pargraph. sentence. clause. phrase or word of this Ordinance i; for env r:zson held b}• a Court to be eaconstitutional. inoperative or void. such holding ;hall rot affect the remainder of this Ordinance. Section 1. A1! Ordinances or parts of Ordinances in contlict herewith are hereby repealed. Section 5. This Ordinance shat: tale effect immediately upon passage. PL.-ACED 0~ FIRST RE.~D[\G THIS 1=th D.aS' OF JL1E. ?001. PLACED 0~ SECOND. FINAL READIXG ADD PASSED THIS ~ TH DAY OF Jti~E. ?001. (VILLACPF. SE.-~L1 ATTEST: 62 Accounting Policies and Procedurzs Manual V illagz of ~otth Palm [3each • Appendix B Forms 63 VILLAGE OF NORTH PALM BEACH ~~ 0(.T ErrfcTlvf att / / '~~ >e CLASS TITLf fROn: •AT iJeADE/iUTE iR61: iIOTKM STATUS iRDq: T0: TOs T0: .ATE iROM: T0: - ~: Q /OI Q REM RE A-P0I-ITKM ^ OC/OT10s1 ^ LAr0ii ^ KSIONTI011 MOUTI ON ^ OINK[ Of fd[ODUO Mt. ^ SYSKMIOM ^ RCTIRpEM /EJIIT t11UIF.ASC ^ OIAMCC IR SAL1tRr ^ OIS-II SSAL ^ LIAK VITMUT -AT TRNISiCR ^ SAf[TT I/ICbRIK ^ [AI MTIp/ M TCIO. tii. ^ RCTIIM /R}7 l[AK w/0 -A -STC COUGT1011 I/KRCASL ^ 07148 TYK LtAK A1WAl ^ LSO/ ^ C0IVCMSATDRY ^ DUTY DI SAL. SICK ^ MI l1 TAR'/ ^ KR[AVf)1fMT D 1-4X. ALSEwCE wLlar ^ ,lum ovrT ^ ~oL IItAJR'! ^ A4A Oi ntrs m /nAs slot [r.AV[ e~• :UK lAL. PREVIOI/S LAI. EARNCO THIS R[QUCST SALA7RY R~at-ans ^ fAtillT CAM ^ /fRSOWIL Illl4tS TY1C: A+WAI . CtrO. li IbsD1U1i[d: hov lprq? S~• ~ Myti Ci:Yf? ^ TES ^ b SICK PATE: Tysicitvs'i /4u- 'LOY[[ SICxLT11R[ GATE ~M 1r(Ap SICJIA71Rf OAT[ SsRCRVISOR SI VMTUR( DAi[ A/DIgVFD: VILLAU 1UMAC(R DATL • CHECK ISSUE AUTHORIZATION Date: The Director of Finance is directed to issue the following check(s): Amount: Name: Address: Purpose: Special Instructions: Account #: • Requested by: Approved by: v2ooo 65 • REPORT OF TRAVEL EXPENSES LEFT N.P,R.• ARRIVED date CITY date LEFT ARRIVED N.P,B,- CITY date date THE FOLLOWING EXPENSES WERE INCURRED BY ME IN BEHALF OF VILLAGE: c S S TOTAL..... TRAVEL BY PRIVATE AUTO: MILES @ ¢ PER MILE..........S EXPENSE ADVANCE - CHECK N0, S Signature ACCOUNT CHARGED BALANCE DUE (ME) (VILLAGE)S I CERTIFY THAT THE ABOVE EXPENSES WERE INCURRED IN BEHALF OF THE VILLAGE OF NORTH PALM BEACH ON OFFICIAL BUSINESS AND NONE WERE FOR MY PERSONAL BENEFIT. (RETURN THIS COPY TO FINANCE DEPT,) ~vm APPROVED 66 VILLAGE OF NORTH PALM BEACH GENERAL FUND • FINANCE ACCOUNT # DESCRIPTION AMOUNT A0000.10111 • SouthTrust Bank TOTAL: $ Cash Reconciliation: Currency Coin Checks Total: $ Prepared by: :ate: Posted by: Date: 67 • VILLAGE OF NORTH PAI M RFAC:H ~/ILLAGE CLERK GEN RAI FUND RECEIPTS ACCOUNT# DESCRIPTION AMOUNT A1704-03300 Sale of Maps & Publications A1704-03400 Certify, Copy & Research A1704-03900 Election Filing Fees 0 R. A0000-10111 Checking Account - SouthTrust CASN RECONCILIATION: Currency: Prepared By: Received By: Coins: Deposit Date: Date: Checks: Posted By: TOTAL: Date: • 68 • Village of North Palm Beach Public Services General Fund Receipts Description Account # 1 A0000-14130 2 A0618-03910 3 A0618-01120 4 A0618-01100 5 A0000-23610 6 A0618-03920 7 A0618-03900 8 A1704-03300 9 A0000-21740 10 A0000-21750 11 A0000-22020 12 A0618-03400 13 A0618-03500 14 A0618-04940 15 A3500-08990 16 A0000-21730 Description Sate of Garbage Bags Marina - Dry Storage: - Wet Slip: Building Permits Village Occupational Licenses Occupational License in Advance Decals Ground Maintenance Maps & Publications Radon Tax Payable Road Impact Fee Key Deposit Refuse Collection Fees Re-inspection /Misc. Fees Code Enforcement Fines Sales of Surplus Sates Tax Payable DR A0000-10111 Checking Account - SouthTrust Cash Reconciliation: Currency: _ Coins: _ Checks: _ TOTAL: _ • Prepared By: Deposit Date: Business Date: Amount Received By: Date: Posted By: Date: 69 n U • Village of North Palm Beach Public Safety General Fund Receipts Account # A0911-01100 Descri tp ion Bicycle Registration ~~ A0911-03100 Accident Reports & I.D. A0911-03100 Fingerprinting A0911-04110 False Alarms A0911-04111 Alarm Permit Account A0911-04112 Mooring Fee A0911-04120 Outside Services A0911-04130 Parking Fines A0911-08995 Donations (please list separately) SDedfy if psh or check d indutle check # DR A0000-10111 Checking Account - SouthTrust Cash Reconci liation: Currency: Prepared By: Received By: Coins: Deposit Date: Date: Checks: 'Business Date: Posted By: TOTAL: Receipt #: Date: 70 C~ Account # A2128-03210 A2128-03280 A0000-20510 A0000-10130 3. ABC Kids J. Ballroom Dance 5. Camps 6. Calligraphy 7. Country Dance 8. Coquettes 9. Dancercise 10. Enameling I1. Fencing 12. Fit 50 13. Jauercise Villal?e of North Palm Beach Recreation General Fund Receipts Description Amount Program Activity Fees Facility Usage Fees Revolving Account Checking Account 13. Karate t5. ~lised Media 16. MusicMIvmt 17. Pottery/Kidsart 18. PreAC-Cook Klds 19. Slendercise 20. Sophisticates 21. Special Event 22. Sports Leagues 23. Sq. Dance 2a. Stain Glass 25. Start Smart 26. Tai Chi 27. Tap/Jaa 28. Tole Painting 29. Travel Bug 30. Watercolors 31. Yoga 32. Other CASH RECOYCILL4TION: Currency Coins: Checks: .OTAL: Prepared by: Deposit Date: Business Date: Receivcd by: Date: Posted by: Date: 71 • VILLAGE OF NORTH PALM BEACH ACCOUNT# _ A2127-03110 A2127-03120 A2127-03130 A2127-03140 LIBRARY GENERAL FUND RECEIPTS DESCRIPTION AMOUNT MEMBERSHIPS COPYING POSTAGE LOST BOOKS A2127-04100 A0000-2477 LIBRARY FINES LIBRARY CONTRIBUTIONS A0000-10111 CHECKING ACCNT: SOUTHTRUST BANK RECONCII,IATION: CURRENCY: COINS . CHECKS • TOTAL _ PREPARED BY: RECEIVED BY: DEPOSIT DATE: DATE: POSTED BY: DATE: n Beach { Deposit Date: 7 y DUE TO DUE FROM: L0000.13110 Due From General Fund AOOOD-207<1 Due to Country Club A0000-101 1 1 Checking• SOUTHTRUST CR: General Le i dger LOD00.11510 CC Payments 10000.21730 Sa4s Tax Payable ~, L0000-20255 Gratui,y Payable L0000-20255 Coupon Redeemable L0000.20250 Due to F86 LOODO-20251 Due to F86•Specials ash usiness Date: OLF COURSE REVENUE: ILZ24o 02303 lessons M r~r ..: 32ND vjJ D D IJI'ICPe'}~°~ L2100.Oit00 WalRing Fee L2i00-07110 TeeTimeFee POOL REVENUE: DR:General Ledger - ! 0000-20257 Coupon-Redeemed Gene; a: LedgerTOtal: Revenue Total: GRAND TOTAL: (Prepared ey: DDeposit Date; 3usiness Date: i. Date L2151-03242 Learn To Swim ~,;,2 51 t}322'~ : ~ ~> E p ~` ~eefarTx +c. Xue~> ,s s -..,~ _2151-03243 Pool Rental-Tax ~ivilSCEII.ANEOUS RcVENUE X3700-08945 13700-08970 L3700-08980 L3700-08999 L3700.06999 L3700-09000 L3700-09001 _3700-09002 Residency Card Telephone Commissions Vending Machines Over<Short> Pro Shop Over<Short> OvercShort> Over<Short> Over<Shor1> ALr 73 7 ;~ uJ3I/pnl •~ 15:31:SS 6+L'i ASSET 1 CUSS SOtCI COAIDDfii a DEPT l0C CODE lOC AEAO t00A _ SiOtAiE lOC SiANS cDrompr COS100IAt CAPIIALIIED iIiIEXOtDEt .Ai 1 } SEt;AL lAr0EAClUtlt IDOEL AODEI iEAt liC'.ISf 1 ~ i.•?: DESC . ~ vtutaE of rom niR iiACe • ._ .. fitEO ISSEi Ipt[SAEEi OESCtIPi10r FOtO SODECE t000I5 rEn ACpOlS DOTE /CQDIS COST ACtES ptT rAli P1ICE PUtCr rEAO sar roof EuuEti toot EST SIIYASE tEPI COSI IASi ill:ti ~iAPlPYE AEtO elrrtE DAZE DISI CDOE SEIt -[ICE aea ot~ -ea PEt:Eri /DO'L DESC 1AIr1 COrT ItSOtED VEtDOt OESC CAttIEt ifPE IOSUtEO VAL EAItE OAif EIPitE DATE AArDAI COST POIICT COST rEtO rEtO DE-tECItiE DEPrtc Ptir f1tS1 TtJPA J ESi IiEE iEti005 iAIEt ICCUI DE!tEC rrD t PD 1 Irv 1 Irv DATE /Ai( 1 bvlslst tEY 1111 Irv ASi ~a