Passing the City Treasury Bank Account

Establishment and Regulation of the City Treasury Account

Section 1. Establishment of Treasury Account

1. A municipal bank account shall be established at Monument Bank for the purpose of holding the City Treasury, in whole or in part.
2. The account shall be titled “Icenia City Treasury Account” and shall be designated as a public fund account under municipal law.
3. Joint access to the account shall be granted to all sitting Members of the City Council, with equal authority to view balances, initiate transactions, and audit expenditures, subject to the limitations set forth in this Ordinance.

Section 2. Authorized Use of Funds

1. Funds held in the City Treasury Account may be expended solely for official city projects, initiatives, and obligations, as approved by a majority vote of the City Council.
2. No funds shall be used for personal, private, or non-governmental purposes under any circumstances.
3. All expenditures shall be documented and published in the City’s public ledger within seven (7) days of disbursement, including:• The amount expended; • The purpose of the expenditure; • The approving Council resolution or ordinance; • The identity of the initiating Council Member.

Section 3. Oversight and Enforcement

1. The City Council may appoint a Treasurer from among its Members to oversee the reconciliation of the account and ensure compliance with this Ordinance. If a treasurer is not appointed, the Mayor of Icenia City shall take the role of Treasurer until an appointment is made.
2. Any unauthorized use of funds shall be subject to investigation and disciplinary action under municipal ethics law, and may constitute grounds for removal from office.
3. Monument Bank shall be notified of the joint-access structure and shall be required to implement multi-signature protocols or equivalent safeguards as defined by the City Council.

Section 4. Federal Oversight and Access

1. The Secretary of the Treasury of the Federal Government is hereby granted joint access to the Icenia City Treasury Account at Monument Bank for the purpose of:

• Monitoring compliance with federal fiscal regulations;
• Auditing disbursements and account activity;
• Ensuring integrity and lawful use of public funds;
• Facilitating intergovernmental transfers or appropriations as authorized by federal law.
• Facilitating transfer of account access between successive iterations of the City Council

2. The Secretary shall not initiate expenditures from the account without express authorization from the City Council, except in cases of emergency intervention authorized by the Senate of Icenia or the President of Icenia.
3. The Secretary of Treasury may request documentation, transaction logs, and Council resolutions related to account activity, and shall be provided such records within five (5) business days of request.