(A) It is determined and adopted by the Town Council that the materiality threshold for reporting irregular variances, losses, shortages, and thefts shall be $2,000, applicable to funds and public property; and
(B) The provisions of IC 5-11-1-27 are recognized and acknowledged as said statutes require public officials who have actual knowledge or reasonable cause to believe there has been a misappropriation of public funds to immediately send written notice of the misappropriation to the State Board of Accounts; and
(C) The office of the Clerk-Treasurer of the Town of Edinburgh shall maintain all documentation related to the public funds and property of the town as well as any documentation and resolution of incidents that do not meet the materiality threshold; and
(D) A copy of the materiality threshold shall be circulated by the Clerk-Treasurers office to all department heads of the Town of Edinburgh.
(Ord. 2016-5, passed 7-11-16)