9-22-1
Receipts paid into municipal treasury--Funds designated by annual appropriation
ordinance.
9-22-2
Treasurer to receive moneys of municipality--Accounting.
9-22-3
Duplicate receipts given by treasurer--Filing with auditor or clerk.
9-22-4
Assignment of delinquent accounts receivable--Disposition of uncollectible
accounts.
9-22-5
Municipal funds kept separate and not used for personal benefit.
9-22-6
Designation of depositories for municipal funds.
9-22-6.1
Savings and loan associations as official depositories.
9-22-6.2
Domestic federal credit union as official depository--Requirement.
9-22-7 to 9-22-10. Repealed.
9-22-11
Interest from deposited funds property of municipality.
9-22-12
Investment of debt service funds, surplus, utility revenues and bond proceeds--Special assessment bonds and certificates--Interest on investments.
9-22-13
Maturity dates of securities in which debt service funds invested.
9-22-14
Tax levy to retire bonds held by debt service fund.
9-22-15
Resolution required for investment transactions.
9-22-16
Separate accounting for funds and appropriations.
9-22-17
Receipt and application of special assessment money--Cancellation of
certificates.
9-22-18
Register of warrants paid--Examination by finance committee.
9-22-19
Treasurer's monthly settlement with auditor or clerk.
9-22-20
Treasurer's reports to governing body.
9-22-21
Annual financial report--Publication--Filing.
9-22-22
Bond record maintained by auditor or clerk.
9-22-23
Annual estimate by auditor or clerk of expenses and revenue.
9-22-24
Municipal interfund loans.
9-22-1. Receipts paid into municipal treasury--Funds designated by annual appropriation ordinance.
All money belonging to the municipality derived from taxation, licenses, fines, forfeitures, the operation of waterworks or other public utility owned or operated by it, or from any other source, shall be paid into the municipal treasury, and the governing body by the annual appropriation ordinance shall designate to what fund or funds such money shall be applied.
Source: SL 1913, ch 119, § 117; RC 1919, § 6340; SDC 1939, § 45.1412.
9-22-2. Treasurer to receive moneys of municipality--Accounting.
The treasurer shall receive all moneys belonging to the municipality, including taxes, licenses, fines, and income from all other sources, and shall receive special assessments as provided in § 9-22-17 and keep accurate and detailed accounts thereof in such manner as the governing body may from time to time direct.
Source: SL 1890, ch 37, art VIII, § 2; RPolC 1903, § 1248; SL 1913, ch 119, § 69; RC 1919, § 6289; SDC 1939, § 45.1121.
9-22-3. Duplicate receipts given by treasurer--Filing with auditor or clerk.
The treasurer shall give every person paying money into the treasury a duplicate receipt therefor, specifying the date of payment and upon what account paid.
He shall also file copies of such receipts with the auditor or clerk at the date of his monthly report.
Source: SL 1890, ch 37, art VIII, § 6; RPolC 1903, § 1252; SL 1913, ch 119, § 73; RC 1919, § 6293; SDC 1939, § 45.1125.
9-22-4. Assignment of delinquent accounts receivable--Disposition of uncollectible accounts.
Every municipality may assign for collection any or all delinquent accounts receivable. After reasonable collection efforts the governing body may determine that an account is uncollectible, and by formal action direct that the uncollectible amount be removed from the records and disclosed on that year's financial report. Evidence of the debt removed from the records by the formal action of the governing body shall be retained by the municipality to support possible subsequent collection of that debt.
Source: SDC Supp 1960, § 45.0201-1 (23) as added by SL 1964, ch 138; SL 1974, ch 74; SL 1979, ch 57.
9-22-5. Municipal funds kept separate and not used for personal benefit.
The treasurer shall keep all moneys in his hands belonging to the municipality separate and distinct from his own moneys.
He shall not use, directly or indirectly, the municipality's money or warrants in his custody for his own benefit or that of any other person.
Source: SL 1890, ch 37, art VIII, § 7; RPolC 1903, § 1253; SL 1913, ch 119, § 74; RC 1919, § 6294; SDC 1939, § 45.1126.
9-22-6. Designation of depositories for municipal funds.
The governing body shall designate the depository or depositories in which the funds belonging to the municipality shall be deposited. Such depository or depositories shall be a bank or banks within the State of South Dakota, unless otherwise specifically provided by law.
Source: SL 1913, ch 119, § 122; RC 1919, § 6344; SL 1919, ch 272; SL 1921, ch 335; SL 1925, ch 236; SL 1929, ch 188; SDC 1939, § 45.1423; SL 1943, ch 166; SL 1959, ch 270; SL 1974, ch 39, § 15.
9-22-6.1. Savings and loan associations as official depositories.
Domestic savings and loan associations whether chartered by this state or by the United States are official depositories for municipal funds; provided such funds are invested only in the accounts of such associations which are insured by the Federal Savings and Loan Insurance Corporation. The amount so invested in any one association may not exceed the amount which is covered by such insurance unless such association qualifies as a savings and loan depository as provided by chapter 4-6A.
Source: SL 1974, ch 303; SL 1982, ch 45, § 3.
9-22-6.2. Domestic federal credit union as official depository--Requirement.
Any domestic federal credit union chartered by the United States is a qualified public depository for municipal funds if such funds are invested in accounts which are insured by the National Credit Union Administration.
Source: SL 1987, ch 71, § 2.
9-22-11. Interest from deposited funds property of municipality.
All interest derived from the deposit of its funds shall be the property of the municipality.
Source: SL 1913, ch 119, § 122; RC 1919, § 6344; SL 1919, ch 272; SL 1925, ch 236; SL 1929, ch 188; SDC 1939, § 45.1423; SL 1943, ch 166; SL 1959, ch 270; SL 1981, ch 69.
9-22-12. Investment of debt service funds, surplus, utility revenues and bond proceeds--Special assessment bonds and certificates--Interest on investments.
Every municipality maintaining a debt service fund for the payment of outstanding bonds, and every municipality having outstanding revenue bonds and having accumulated "surplus funds" as contemplated by §§ 9-40-30 and 9-40-32, and every municipality owning a public utility or public utilities and having an accumulation of earned reserve or earned surplus funds therefrom, and every municipality having sold its bonds, the proceeds from the sale of which, in the opinion of the governing body, are temporarily not required to carry out the purpose for which the bonds were issued shall keep the accumulations in said funds deposited with the lawful depositories, or invested in registered warrants or bonds of any municipal or public corporation, including those of the municipality issuing such bonds, of the State of South Dakota, or bonds of the United States, or bonds or securities of any kind issued by the State of South Dakota. Nothing herein contained, however, shall be deemed to prevent the transfer, when authorized by law, of special assessment bonds and certificates issued on account of any local improvement to the debt service fund for general obligation bonds, the proceeds of which have been used to finance such improvement. The interest accruing on such investment shall be credited to such fund from which the investment was made.
Source: SL 1915, ch 277; RC 1919, § 6999; SL 1923, ch 264; SL 1927, ch 189; SL 1933, ch 164; SDC 1939, § 45.2310; SL 1941, ch 200; SL 1949, ch 190, § 5.
9-22-13. Maturity dates of securities in which debt service funds invested.
Moneys in any debt service fund shall be invested only in such of the securities named in § 9-22-12 as will become due and payable on or before the date when the bonds for the payment of which such debt service fund was created become due and payable, except bonds of the United States or of the State of South Dakota.
Source: SL 1915, ch 277; RC 1919, § 6999; SL 1923, ch 264; SL 1927, ch 189; SL 1933, ch 164; SDC 1939, § 45.2310; SL 1941, ch 200; SL 1949, ch 190, § 5.
9-22-14. Tax levy to retire bonds held by debt service fund.
If a municipal debt service fund is invested in other bonds of such municipality, there shall be a levy of a tax upon the taxable property of such municipality of sufficient amount to pay the interest and also the principal thereof when due, and such tax when collected shall be returned to the respective fund for that purpose.
Source: SL 1915, ch 277; RC 1919, § 6999; SL 1923, ch 264; SL 1927, ch 189; SL 1933, ch 164; SDC 1939, § 45.2310; SL 1941, ch 200; SL 1949, ch 190, § 5.
9-22-15. Resolution required for investment transactions.
In carrying out the provisions of §§ 9-22-12 to 9-22-14, inclusive, all transactions shall be by resolutions of the governing body.
Source: SL 1915, ch 277; RC 1919, § 6999; SL 1923, ch 264; SL 1927, ch 189; SL 1933, ch 164; SDC 1939, § 45.2310; SL 1941, ch 200; SL 1949, ch 190, § 5.
9-22-16. Separate accounting for funds and appropriations.
The treasurer shall keep a separate account of each fund or appropriation and of the debits and credits belonging thereto.
Source: SL 1890, ch 37, art VIII, § 5; RPolC 1903, § 1251; SL 1913, ch 119, § 72; RC 1919, § 6292; SDC 1939, § 45.1124.
9-22-17. Receipt and application of special assessment money--Cancellation of certificates.
All money received on any special assessment shall be held by the finance officer in its respective fund to be applied only to the payment of the improvements for which the assessment was made. All special assessment certificates received by the finance officer shall immediately be canceled and preserved as vouchers in his office.
Source: SL 1890, ch 37, art VIII, § 9; RPolC 1903, § 1255; SL 1913, ch 119, § 76; RC 1919, § 6296; SDC 1939, § 45.1128; SL 1988, ch 81, § 7.
9-22-18. Register of warrants paid--Examination by finance committee.
The treasurer shall also keep a register of all warrants paid during the year, describing such warrants, their date, amount, number, the fund from which paid, and person to whom paid, specifying also the time of payment.
All such warrants shall be examined by the finance committee of the governing body at the time of making the report required by § 9-22-20.
Source: SL 1890, ch 37, art VIII, § 8; RPolC 1903, § 1254; SL 1913, ch 119, § 75; RC 1919, § 6295; SDC 1939, § 45.1127.
9-22-19. Treasurer's monthly settlement with auditor or clerk.
The treasurer shall have a settlement with the auditor or clerk at the end of every month and turn over all warrants, interest coupons, bonds, or other evidence of indebtedness which may have been paid by him during the month, taking the receipt of the auditor or clerk therefor, and all such evidences of indebtedness shall be canceled by him and have written or stamped thereon the date of their payment.
Source: SL 1890, ch 37, art VIII, § 2; RPolC 1903, § 1248; SL 1913, ch 119, § 69; RC 1919, § 6289; SDC 1939, § 45.1121.
9-22-20. Treasurer's reports to governing body.
The treasurer shall report to the governing body at such time as may be prescribed by ordinance, giving a full and detailed account of all receipts and expenditures since his last report, and the state of the treasury.
Source: SL 1890, ch 37, art VIII, § 8; RPolC 1903, § 1254; SL 1913, ch 119, § 75; RC 1919, § 6295; SDC 1939, § 45.1127.
9-22-21. Annual financial report--Publication--Filing.
The financial officer shall report to the governing body no later than the first regular meeting of May of each year, the receipts, expenses and financial condition of the municipality. The report shall include the amount of funds in the treasury at the time the report is made and where and in what amounts the funds are deposited or invested. The report shall be published in the official newspaper, or any other newspaper as the governing body may direct within thirty days after the report is made to the governing body or on completion of an annual audit. By the last day of May each year the financial officer shall file a copy of the report with the Department of Legislative Audit.
Source: SDC 1939, § 45.1120; SL 1961, ch 248; SL 1974, ch 75; SL 1977, ch 73, § 3; SL 1983, ch 61; SL 1997, ch 50, § 1; SL 2018, ch 53, § 1.
9-22-22. Bond record maintained by auditor or clerk.
The auditor or clerk shall make and keep a list of outstanding municipal bonds, to whom issued, for what purpose, when and where payable, and the rate of interest they respectively bear, and recommend such action to the governing body as will secure the prompt payment of the principal and interest of such bonds.
Source: SL 1890, ch 37, art VII, § 2; RPolC 1903, § 1245; SL 1913, ch 119, § 66; RC 1919, § 6286; SL 1921, ch 314; SDC 1939, § 45.1120; SL 1961, ch 248.
9-22-23. Annual estimate by auditor or clerk of expenses and revenue.
The auditor or clerk shall report annually, on or before the first day of September, to the governing body an estimate of the expenses of the municipality and likewise the revenue necessary to be raised for the current year. In municipalities of the first and second class, the budget form shall be similar to that recommended in the municipal accounting manual provided by § 4-11-6.
Source: SL 1890, ch 37, art VII, § 2; RPolC 1903, § 1245; SL 1913, ch 119, § 66; RC 1919, § 6286; SL 1921, ch 314; SDC 1939, § 45.1120; SL 1961, ch 248; SL 1971, ch 63; SL 1977, ch 73, § 4.
9-22-24. Municipal interfund loans.
Upon approval by the governing body, any unrestricted cash in any municipal fund may be loaned to any other municipal fund.
Source: SL 2010, ch 44, § 1.
