(A) (1) The Uniform Internal Control Standards for Indiana Political Subdivisions developed and promulgated by the State Board of Accounts (SBOA) are hereby adopted by and for the town. Those standards, as they now exist and may be amended from time to time in the future, are hereby incorporated into this section and the Town Code by reference.
(2) The Clerk-Treasurer is directed to ensure that all personnel receive training concerning the internal control procedures adopted and approved herein.
(B) The town hereby adopts a materiality threshold of $500, or another amount as set by the Town Council from time to time, for purposes of the internal control procedures adopted and approved herein.
(Ord. 2016-543, passed 7-11-2016)