(A) The city does hereby adopt the Uniform Internal Control Standards for Indiana Political Subdivisions as promulgated by the SBOA in September 2015.
(B) The city does hereby establish a materiality threshold of $1,000 for any losses, shortages or other variances in cash funds, and $2,500 for other types of assets and that the internal control policy will include procedures to address material variances.
(C) The city does hereby establish a policy that all employees whose duties include receiving, depositing or otherwise having access to funds of the city shall be required to undergo training on the internal control standards and policies of the city herein adopted, which training shall be certified to the SBOA as required by law.
(Res. 2016-10, passed 11-15-2016)