(A) The Town of Boswell is hereby authorized to use electronic fund transfers for official business of the Town.
(B) Definition. Pursuant to I.C. 36-l-8-11.5(a), "electronic fund transfer" for purposes of this section means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic terminal, telephone, or computer or magnetic tape for the purpose of ordering, instructing or authorizing a financial institution to debit or credit an account.
(C) Authority. The Clerk-Treasurer is hereby authorized and responsible for:
(1) Selecting the financial institution to be used by the town;
(2) Executing the application and agreement with the selected financial institution;
(3) Overseeing the use of EFTs for the town;
(4) Establishing appropriating security procedures for passwords, codes, controls and other authorizations to protect and preserve town assets and funds;
(5) Reviewing all transactions in connection with the use of EFTs.
(D) Administration. The Clerk-Treasurer shall not draw a warrant for an EFT unless:
(1) There is a fully itemized invoice or bill for each expense;
(2) Each invoice or bill is approved by the town employee or representative receiving the goods and services;
(3) The invoice or bill has been filed with the Clerk-Treasurer;
(4) The Clerk-Treasurer certifies before payment that the invoice or bill is true and correct; and
(5) Payment of the invoice or bill is allowed by the Boswell Town Council.
(E) The town shall comply with all other requirements regarding the payment of claims by a political subdivision.
(Ord. 2022-0809A, passed 8-9-2022)