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BY: COUNCILMAN DUANE LIlVIPERT <br />AN ORDINANCE ESTABLISHING A NEW SECTION 135.07 <br />OF THE CODIFIED ORDINANCES ENTITLED "MONTHLY <br />REPORTS REQUIRED" OF CHAPTER 135 ENTITLED <br />"DEPARTMENT OF FINANCE" AS AMENDED. <br />WHEREAS, this Council believes that in order to adequately legislate with respect to <br />the expenditures by the administration, Council needs to have the current financial data; and <br />WHEREAS, it is the belief of this Council that in order to assure that Council has <br />proper information to make fiscal related decisions in their legislative capacity, that they have <br />financial data from the Director of Finance. <br />NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY <br />OF NORTH OLMSTED, CUYAHOGA COUNTY AND STATE OF OffiO: <br />SECTION 1: That there is hereby created a new Section 135.07 entitled "Monthly <br />Reports Required" of Chapter 135 entitled "Department of Finance" which new Section shall <br />read as follows: <br />135.07 Monthly Reports Required <br />The Director of Finance shall provide to the Council <br />monthly reports providing the Council with the following <br />information: the balance of appropriations in all accounts; <br />the expenditures by account for the previous month; any <br />changes in the estimated resources; the revenue received by <br />the City for the prior month, as well as any occurrence in the <br />prior month that would have a significant affect upon the <br />estimated resources or expenditures of the City. Said monthly <br />reports shall be prepared and delivered to Council on or before <br />the fifteenth of the following month. In other words, the January <br />report will be prepared and delivered by the fifteenth of February. <br />