(A) All erroneous or irregular variances, losses, shortages, or thefts of cash or non-cash items having an estimated market value in excess of $2,500, except for inadvertent clerical errors that are identified timely and corrected promptly with no loss to the city, shall be the materiality threshold.
(B) All erroneous or irregular variances, losses, shortages, or thefts of cash or non-cash items that occur more than one time in a month, and the aggregate total of which is $5,000 or more, shall be reported to the State Board of Accounts. Exceptions shall be made for inadvertent clerical errors that are identified timely and promptly corrected with no loss to the city.
(Res. 2016-15, passed 12-14-2016)