(A) All erroneous or irregular variances, losses, shortages, or thefts of the town funds or property, or funds or property the town holds in trust, shall be reported to the Clerk-Treasurer or his or her designee promptly.
(B) It will be the policy of the Clerk-Treasurer to report to the State Board of Accounts any erroneous or irregular variances, losses, shortages, or thefts of cash in excess of $100 except for inadvertent clerical errors that are identified timely and promptly corrected with no loss to the town.
(C) It will be the policy of the Clerk-Treasurer to report promptly to the State Board of Accounts any erroneous or irregular variances, losses, shortages, or thefts of non-cash items in excess of $500, estimated market value, except for those resulting from inadvertent clerical errors or misplacements that are identified timely and promptly corrected with no loss to the town, and except for losses from genuine accidents.
(D) All town elected officials are asked, and all town employees and agents are directed, to comply with this policy, and the Town Council is asked to endorse it.
(Ord. 2016-7, passed 5-19-2016)