(A) This policy is intended to comply with I.C. 5-11-1-27 and the state’s Examiner Directive 2015-6.
(B) For the purposes of this subchapter, MATERIALITY THRESHOLD means an amount of cash or other property, as uniquely determined by each political subdivision, that, when lost, stolen, or otherwise unaccounted for, triggers an obligation to report the material variance to the State Board of Accounts for review. The purpose and intent of this subchapter is to establish the required materiality threshold and reporting procedure for the city.
(Res. 2016-15, passed 12-14-2016)