§ 2-1671. General and budgetary accounting system.

(a)

The general and budgetary accounting system of the city shall provide for the accurate recording and control of assets, liabilities, revenue and other receipts, and expenditures in accordance with accepted principles of municipal accounting. This system shall provide for budgetary control of revenue and expenditures. Budgetary control of expenditures shall be obtained by means of encumbrance accounting.

(b)

The general accounting system shall provide a system of inventory control either through the use of working capital funds or clearing accounts maintained in operating funds. Where working capital funds are used, charges for materials withdrawn shall include the cost of materials plus an additional amount to cover overhead or handling charges.

(Admin. Code 1967, § A11.29)