(A) When and if an erroneous or irregular variance, loss, shortage or theft of town funds or property should be encountered, the employee or representative encountering same shall report such to the Town Manager. The Town Manager shall ascertain if the variance, loss, shortage or theft is in excess of $500 in value. If same is in excess of $500 in value, it shall be deemed material and Town Manager shall report same to Town Clerk. The Town Clerk shall cause a report to be made to the State Board of Accounts and any entity necessary for purposes of reporting thefts, etc., such as the Town Marshal/County Sheriff is aware of same, if such is appropriate. The Town Council shall be informed at its next meeting.
(B) The State Board of Accounts, pursuant to I.C. 5-11-1-27(j), make recommendation to the Clerk as to methods or policies necessary to be implemented or modified to prevent a recurrence and said Clerk or other responsible party shall see to it that said procedures are in fact implemented and report to Town Council.
(Ord. 2016-07, passed 2-23-16)