Management is committed to fraud prevention by utilizing a “trust but verify” approach. The potential for fraud, misappropriation, and outright theft are contemplated as controls are designed for various city divisions. Fraud responses will include statutorily required responses to fraud, including, but not limited to, I.C. 5-11-1-27(l) relating to the report of misappropriation of funds to State Board of Accounts and prosecuting attorney and I.C. 5-11-1-27(j) relating to the report of material variances, losses, shortages, or thefts to the State Board of Accounts. The city shall utilize a materiality threshold of $500.
(Ord. 12-2016, passed 12-20-2016)