§ 32.87 SAFEGUARDING OF ASSETS.

   (A)   The accounting controls set forth in this section are hereby authorized to be designed, implemented, and followed by all departments, officials, employees, and agents of the town to provide reasonable assurances that town assets are safeguarded for the benefit of the town and its residents.

   (B)   Capital expenditures made by the town and its various departments and utilities shall be in accordance with management’s authorization, as documented in the minutes.

   (C)   Transactions of the utilities shall be recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles.

   (D)   Adequate detail records shall be maintained to assure accountability for town and utility owned assets.

   (E)   Access to assets shall be permitted in accordance with management’s authorization.

   (F)   The recorded accountability for assets shall be compared with the existing assets at least every two years, and appropriate action shall be taken with respect to any differences.

(Ord. 692, passed 12-10-96)

PURCHASING

§ 32.90 PURCHASING AGENT.

   The Council appoints and designates the Clerk-Treasurer as its Purchasing Agent.

(Ord. 729, passed 9-22-98)

§ 32.91 PURCHASES IN EXCESS OF $75,000.

   All purchases of supplies, materials, and equipment in excess of $75,000 must be awarded through the competitive bid process as outlined in IC 5-22-7.

(Ord. 729, passed 9-22-98)

§ 32.92 PURCHASES IN EXCESS OF $25,000 BUT LESS THAN $75,000.

   (A)   When the Purchasing Agent makes a written determination that the use of competitive sealed bidding is either not practicable or not advantageous to the town, the Purchasing Agent may award a contract using the procedures provided in IC 5-22-9, as amended from time to time, instead of the competitive sealed biding procedure set forth in IC 5-22-7.

   (B)   The Purchasing Agent may purchase supplies under this section by inviting quotes from at least three persons known to deal in lines or classes of supplies to be purchased. The Purchasing Agent shall mail an invitation for a quote from the persons referenced above at least seven days before the time fixed for receiving quotes. If the Purchasing Agent receives a satisfactory quote, the Purchasing Agent shall award a contract to the lowest responsible and responsive bidder for each line of class of supplies required. Nothing in this section precludes the Purchasing Agent from rejecting all quotes submitted. In the event that the Purchasing Agent does not receive a quote from a responsible and responsive bidder, the Purchasing Agent may purchase the supplies under IC 5-22-10-10, as amended from time to time.

(Ord. 729, passed 9-22-98)

§ 32.93 PURCHASES LESS THAN $25,000.

   A purchasing Agent may purchase supplies under this section by inviting quotes from at least two quote persons known to deal in the lines or classes of supplies to be purchased. The Purchasing Agent shall mail an invitation for quotes to persons described above at least seven days before the time fixed for receiving the quotes. If the Purchasing Agent receives a satisfactory quote, the Purchasing Agent shall award a contract to the lowest responsible and responsive bidder for each line of class of supplies required. Nothing in this section precludes the Purchasing Agent from rejecting all quotes. If the Purchasing Agent does not receive a quote from a responsible and responsive bidder, the Purchasing Agent may purchase the similar supplies under IC 5-22-10-10, as amended from time to time.

(Ord. 729, passed 9-22-98)

§ 32.94 SPECIAL PURCHASES.

   The Purchasing Agent may make a special purchase, as prescribed in IC 5-22-10, as amended from time to time.

   (A)   The Purchasing Agent must keep a record on file in the Clerk- Treasurer’s Office of all special purchases. The contract file for a special purchase must contain a written determination of the basis for:

      (1)   The special purchase; and

      (2)   The selection of the contractor.

   (B)   The purchasing agency shall maintain a record listing all contracts made under this section for a minimum of five years. These contract records for a special purchase are subject to annual audit by the State Board of Accounts. The record must contain the following information:

      (1)   Each contractor’s name;

      (2)   The amount and type of each contract; and

      (3)   A description of the supplies purchased under each contract.

(Ord. 729, passed 9-22-98)