(A) The materiality threshold at and above which the city shall report incidents of material variances, losses, shortages, or thefts to the State Board of Accounts is:
(1) A one-time cash loss of at least $1,000; or
(2) A recurring cash loss of at least $1,000 average per month; or
(3) A value of property valued in an amount of at least $1,000 for a simple incident; or
(4) A creation of additional liabilities of at least $1,000.
(B) When an incident involving any variance, loss, shortage or suspected theft of funds or property has been discovered by or brought to the attention of an employee of the city by any means or by any other person, such incident shall be reported to the employee’s department head who shall, in turn, report the incident to the Clerk-Treasurer and to the Mayor. All documentation relevant to the incident shall be maintained on file by the Clerk-Treasurer for the period required by statute for record retention, regardless of whether or not the incident is determined to be material.
(C) If either the Clerk-Treasurer or the Mayor determines that an incident involving a variance, loss, shortage or suspected theft of any city funds or property is material and meets a threshold standard as defined above, the Clerk-Treasurer shall immediately report the material incident to the State Board of Accounts.
(D) Any public officer of the city who has actual knowledge of or reasonable cause to believe that there has been a misappropriation of public funds or assets of the city, including:
(1) Information obtained as a result of a police report;
(2) An internal audit finding; or
(3) Another source indicating that a misappropriation has occurred;
shall immediately send written notice of the misappropriation to the State Board of Accounts and to the Prosecutor of Clinton County, Indiana.
(Ord. 16-02, passed 3-28-16)