A. The city controller has the authority to transfer funds initiated to an electronic terminal, telephone, computer, magnetic tape, or other electronic means generally used and accepted within the banking industry for the following purposes: ordering, instructing or authorizing a financial institution to debit or credit any account established and maintained for the investment of monies deposited with the city, ACH payroll direct deposit, transfer of funds as necessitated by bond issue, bonded indebtedness principal and interest payments, receipt and disbursement of funds from other governmental agencies, reoccurring vendor payments unless prohibited by the state board of accounts, and the payment of any expense described in Indiana Code 36-4-8-14 and/or Section 3.24.010.
B. The common council shall require the city controller to maintain adequate documentation of the transaction so that they may be audited as provided by law. (Ord. 33-2023, 2023; Ord. 8-2017, 2017; Ord. 94-53 § 2, 1994; prior code § 7-3)