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Director of Treasury <br />Under the direction of the Controller, the City’s Director of Treasury is responsible for the day-to-day <br />management of the City’s cash and investment portfolio. This includes performing all bank reconciliations <br />and resolving discrepancies, as well as serving as the point of contact for City employees, bank <br />representatives, or investment management professionals on matters of cash handling, cash management, or <br />investment management. The Director of Treasury is also responsible for ensuring that correct cash <br />handling procedures are followed. <br />Directors of Department Finance <br />Directors of Department Finance are responsible for ensuring that cash receipts are correctly entered into <br />DFO as they are received by various members of their assigned departments. Additionally, Directors of <br />Department Finance work with the Director of Treasury to ensure that proper cash handling procedures are <br />followed in each department and to identify cash receipts that are received by the Director of Treasury <br />(especially those received via wire transfer or automated clearing house (ACH)). <br />Section 4. Establishment of Procedures <br />Except as otherwise provided, it is the Controller’s responsibility to establish, direct, modify, and otherwise <br />maintain, from time to time as the Controller may determine in the Controller’s discretion, the procedures <br />for carrying out the administrative and financial activities associated with the subject matter of this <br />Policy. Due to the fundamental importance of maintaining strong cash reserves and the inherent risks <br />associated with handling cash reserves, the Controller has established, both within and without DFO, <br />certain rules and procedures for all divisions of the City to protect the City’s financial position and safeguard <br />the City’s assets, including appropriate internal control measures in accordance with the City of South Bend <br />Internal Control Policy and its supplemental materials. Those rules and procedures are included as <br />supplements to this Policy and may be amended, supplemented, or eliminated from time to time as the <br />Controller may deem appropriate, without the need for further approval of the Mayor or amendment to this <br />Policy. <br />Section 5. Effective Date and Approval <br />This Policy is effective on May 1, 2021, and supersedes all prior policies addressing the same subject matter. <br />26