(A) Any public official, department head, or employee with actual knowledge or reasonable cause to believe that there has been a misappropriation of public funds is to immediately send written notice of the misappropriation to the State Board of Accounts and the Prosecuting Attorney, regardless of the amount.
(B) The materiality threshold at which point the city shall report incidents of material variances, losses, shortages, to the State Board of Accounts is:
(1) A one-time cash loss of at least $200;
(2) A recurring cash loss of at least $200 average per month;
(3) A value of $200 for a one-time loss of assets; or
(4) A creation of additional liabilities of at least $1,000 average per month.
(C) When an irregular variance, loss, shortage, or theft is determined material pursuant to the city’s policy on materiality, the City Clerk-Treasurer shall report the incident to the State Board of Accounts. On the State Board of Account’s website there is a notification link, which allows public officials to report via e-mail material irregular variances, losses, shortages, or thefts. Telephone and in-person reporting is also acceptable. Reports will be followed up with a return e-mail or call to gather additional information as necessary. All reports of irregular variances, losses, shortages, or thefts are maintained by the State Board of Accounts.
(Ord. 2016-009, passed 6-6-16)