§ 32.28 SAFEGUARDING ASSETS.
   Accounting controls shall be designed and implemented to provide reasonable assurance that:
   (A)   Capital expenditures made by the town, its various departments, and utilities be in accordance with management’s authorization as documented in the minutes;
   (B)   Transactions of the utilities be recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles;
   (C)   Adequate detailed records be maintained to assure accountability for town and utility owned assets;
   (D)   Access to assets be permitted in accordance with management’s authorization; and
   (E)   Recorded accountability for assets be compared with existing assets at least annually and appropriate action be taken regarding any differences.
(Ord. 08-002, passed 4-21-08)