Fiscal management Flashcards
What is the purpose of the fiscal management policy?
To establish procedures for purchasing, budgeting, accounting, and fiscal control.
Who is ultimately responsible for the fiscal management of the Lexington Police Department?
The Chief of Police.
Which office is responsible for the management of the fiscal office within the Lexington Police Department?
Office of the Chief.
What is the role of the fiscal officer within the fiscal office?
Responsible for budget development, supervision of internal expenditures, and procurement of department property.
What financial system does the department use for purchasing and budgeting?
LFUCG PeopleSoft Financial System.
What does the quarterly internal audit conducted by the fiscal officer cover?
Cash accounts like undercover funds, Emergency Response Unit fund, and Central Records Unit fund.
When are purchases made using a ProCard for department equipment and supplies?
When governed by LFUCG’s Division of Central Purchasing-Purchasing Manual.
Who must approve requisition requests for purchases within the Lexington Police Department?
Bureau assistant chief or designee, and Chief of Police or designee.
Where should all purchase requisitions be submitted within the department?
Electronically via the PeopleSoft Financial System.
What are Procurement Cards used for within the department?
Procurement of lesser cost, non-asset items that can be purchased with the card.
When will purchases be reconciled and approved for payment?
Within two business days from the date posted in PeopleSoft.
What purchases are required to be made through competitively sealed bids?
Purchases over $20,000, excluding items exempted in the Purchasing Manual.
What are the steps involved in the bidding procedure?
Public advertising, notifying potential bidders, sealed offers submission, and Urban County Council acceptance.
What types of specifications are used by LFUCG for bidding?
Design, performance, combination of both, and infrequent brand names.
Who handles the criteria for selection of vendors before council approval?
The Division of Central Purchasing.
Under what conditions can a bid be awarded?
To the lowest bid meeting requirements or lowest evaluated bid meeting requirements.
What governs emergency purchases or rental agreements for equipment?
Regulations in LFUCG’s Division of Central Purchasing- Purchasing Manual.
What is the process for emergency purchases costing less than $20,000?
Approval by Chief of Police or Executive Officer for assignment of purchase order.
How are emergency purchases over $20,000 authorized?
Mayor declares emergency, authorizes purchase without competitive bidding with Certificate of Emergency.
Who coordinates inventory control of department property and assets?
The fiscal officer.
Who serves as the asset forfeiture coordinator through the fiscal office?
The Executive Officer in the Office of the Chief.
Who maintains the Equitable Sharing Agreement Certification (ESAC) eShare Administrator role?
The fiscal officer
What procedure should be followed for handling cash, checks, and money orders at the front counter by Central Records employees?
Only authorized employees can handle, with entries in a cash register and reconciliation at day end.
What actions must be taken by a designated Central Records employee at the end of each business day?
Total cash in register, create balance sheet, turn in to civilian supervisor including excess cash and checks.
Who is responsible for reconciling and maintaining the cash register account in Central Records?
The civilian supervisor or designee
How should payments received be deposited by the civilian supervisor at the end of each business day?
Hand-delivering payments to the Division of Revenue
