Treasurer

TREASURER’S OFFICE DESCRIPTION

The City Treasurer is elected every four years and is the custodian of all City funds.

The City Treasurer is responsible for recording and depositing all money belonging to the City. This includes payments received in the Treasurer’s office as well as processes and services provided by other City Departments. All monies received by the Treasurer’s Office are deposited within 24-48 hours. The City Treasurer is a signer on all bank accounts. The Treasurer prepares a monthly report for the City Council showing receipts, disbursements, and ending bank balances for each fund as required by State Statute. The office oversees the handling of approximately 53 bank accounts. All short and long term investments are handled by the City Treasurer.

Mandated by State Statute, the City Treasurer is the treasurer and custodian of the City’s Police and Fire Pension Funds. The City Treasurer, along with the corresponding board secretary, is responsible for tracking the balances in order to pay the pensioners and the miscellaneous bills. The Office is responsible for handling all deposits made to the pension funds, keeping a ledger of all pension fund contributors, and preparing monthly reports for both Boards. The Treasurer also prepares an annual report, corresponding with the City’s fiscal year, which is presented at the April or May meeting. The City Treasurer has traditionally been the liaison between the pension board and the investment consultant.

Also by Statute, the City Treasurer is responsible for preparing the Annual Treasurer’s Report which must be filed with the City Clerk no later than six months after the fiscal year ends (September 30^th). The Report is filed by the City Clerk with the County Clerk and published in a local newspaper.

The Treasurer is responsible for the record-keeping, processing, collection, and distribution of all food and beverage taxes from Alton’s restaurants and bars. The distribution of these funds is set by Ordinance. Currently, 60% of the tax is allocated to the Alton Convention and Visitors’ Bureau and 40% is transferred to the City’s Marina Reserve account.

The Treasurer is also responsible for the record-keeping, processing, collection, and distribution of the tourism taxes collected by the hotels and guest houses located in the City of Alton. The distribution of these funds is set by Ordinance. Currently, 43% of the tax is allocated to the Alton Convention and Visitors’ Bureau and 57% is deposited in the Tourism account for Tourism related development.

Approximately 850-900 business licenses and their renewals are handled annually by the Treasurer’s Office. New applications are filed manually or electronically. The office is then responsible for the paperwork involved with inspections performed by other city departments such as Building, Housing, and Zoning, Police, Fire, and Public Works if deemed necessary. Licenses are issued by the Treasurer based on the reports filed by those departments. For more information on business licensing, please click here. 

The City Treasurer has traditionally assisted the Alton Marina manager with budget matters and auditing procedures. The Treasurer is responsible for overseeing the Marina bank account and is a co-signer on the Marina Operations bank account.