Subtitle 3 – Deposit of City Funds
Current through 2026-07-17. Source: City of Balt., Md., Ord. 26-129. Published by the Baltimore City Department of Legislative Reference.
Balt., Md., Code art. 5, § 3-1 (2026)
§ 3-1 Required deposit and accounting.LinkCopy Citation
(a)Deposits.
(1)
The Director of Finance shall deposit all money belonging to the City in banks which shall be designated by the Board of Finance.
(2)
And it shall be the duty of the Board of Finance in making the selection to enter into an agreement with the banks so selected with regard to compensating the City either by service rendered by the banks to the City, or some rate of compensation in the form of interest on the balances belonging to the City, as in its judgment will be most beneficial to the City.
(3)
The Board of Finance, in consultation with the Minority and Women’s Business Opportunity Office, shall adopt regulations to require that the banks selected are in full compliance with the City’s Commercial Non-Discrimination Policy, as set forth in Subtitle 29 of <cite data-path="|5">this Article</cite>.
(b)Accounts; reports.
(1)
It shall be the duty of the Director of Finance to keep regular and correct account of all moneys received and expended by him on behalf of the City.
(2)
And he shall submit an annual report as soon as practicable after June 30, showing all moneys received and expended by him during the preceding fiscal year.
History: Ord. 46-392
History: Ord. 65-658
History: Ord. 06-186
Balt., Md., Code art. 5, § 3-2 (2026)
§ 3-2 Agreements with custodians.LinkCopy Citation
The Director of Finance, the Board of Estimates, and the Board of Finance are hereby authorized and empowered to execute and approve, on behalf of the Mayor and City Council of Baltimore, from time to time, agreements pertaining to the safekeeping by such custodial institutions as may from time to time be selected by them of collateral posted by financial institutions to secure funds deposited therein by the Mayor and City Council of Baltimore and the Director of Finance and other departments, agencies, and officials of the municipality.
History: Ord. 43-031
History: Ord. 48-131
History: Ord. 63-002
History: Ord. 65-658
Balt., Md., Code art. 5, § 3-3 (2026)
§ 3-3 Petty cash checking account.LinkCopy Citation
(a)Director of Finance may authorize.
Baltimore City departments and agencies which maintain imprest <em>{advanced}</em> funds, which are petty cash funds containing certain constant amounts of money, and are maintained by the department or agency with monies advanced by the City, are hereby authorized to set aside a certain percentage of that fund for the establishment of a checking account, providing such checking account is specifically authorized by the Director of Finance and the Board of Estimates.
(b)Designated depository.
All monies set aside for the checking account under the provisions of this section must be deposited in a depository or depositories designated by the Board of Finance from time to time.
(c)Withdrawal of funds.
Funds placed in said depositories as aforesaid may be withdrawn therefrom by check to pay expenses duly incurred by the City departments and agencies maintaining the imprest funds.
(d)Signature requirements.
(1)
Said checks shall bear the signature of:
(i)
the director of the City department or agency or his designee; and
(ii)
1 other person designated by the director to sign as Disbursing Officer.
(2)
Such designation shall be made by the director and filed with the depositories on which such checks are drawn.
(3)
Any signature on any such checks may be manual or facsimile.
(e)Surety bond.
The director of any City department or agency maintaining an imprest <em>{advanced}</em> fund, his designee, and the Disbursing Officer designated by the director as aforesaid, before performing any act under the provisions of this section, shall give bond to the Mayor and City Council of Baltimore in such amount, in such form, and upon such conditions as may be determined appropriate by the Director of Finance.
History: Ord. 80-184
History: Ord. 82-575