1987 039 Ordinance - Laserfiche WebLink

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M.V. ORDINANCE N0. 87- 39 Page -4- Fund or MCIC Fund. (a) All cash and/or resources received by Mayfield Village as the agency for Mayfield Village for industrial, commercial, distribution and research development shall be accounted for in the MCIC Fund. (b) This fund has been previously classified by Mayfield Village as a Non-expendable trust fund. It is the intent of this fund to account for cash and/or resources regarding the industrial, commercial, distribution and research development project proposed to be financed by the Munici- pality pursuant to the authority granted by Article VIII, Section 13, of the Ohio Constitution and Chapter 165 of the Ohio Revised Code. (c) The Director of Finance shall make payments from said specific fund upon presentation of vouchers or order theref or by proper Village officials in accordance with the laws, ordinances of the State of Ohio and Mayfield Village. Disbursements are to be used for the purpose of defraying administrative, secretarial, and clerical expenses involved in processing applications. Section 4. Definitiono Petty Cash or Impressed Cash is a sum of money set aside for the purpose of making change or paying small obligations for which the issuance of a formal voucher, purchase order and check would be too expensive and time-consuming. A. There is currently listed a Non-expendable Trust Fund Type, and specifically called the "Petty Cash Fund" in the financial records of the Village. B. This Non-expendable Trust Fund Type, specifically the Petty Cash Fund is to be closed and the balance of this fund, Eight Hundred Fifty Dollars ($850.00), per the Village financial statements at September 30, 1987, shall be reported in the General Fund of the Village as a balance sheet account. Section 5. The Director of Finance is further authorized and directed to make application to the Bureau of Inspection of the State of Ohio for approval of the above changes pursuant to the provision of Section 5705.12 of the Ohio Revised Code. Section ,6. That the Council finds and determines that all formal actions of this Council relating to the adoption of this Ordinance have been taken at open meetings of this Council; and that deliberations of this Council and of its committees, resulting in such formal action, took place in meetings open to the public, in compliance with all statutory requirements including the requirements of Section 121.22 of the Ohio Revised Code.