(A) The town does hereby adopt the Uniform Internal Control Standards for Indiana Political Subdivisions as promulgated by the SBOA in September 2015.
(B) The town 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 town does establish a policy that all employees whose duties include receiving, depositing, or otherwise having access to funds of the town shall be required to undergo training on the internal control standards and policies of the town herein adopted, which training shall be certified to the SBOA as required by law.
(Res. 2016-12-1, passed 12-13-2016)