(A) The threshold for material losses, shortages, or theft for the city which must be reported to the state’s Board of Accounts by the Clerk-Treasurer or the Clerk-Treasurer’s designee, is as follows:
(1) Cash losses, shortage, or theft. A loss, shortage, or theft of cash from any city fund is an amount over $500; and
(2) Other assets loss, shortage, or theft. A loss, shortage, or theft of a city asset other than cash exceeding a value of $1,000.
(B) Notwithstanding the above thresholds, any public officer or official who has actual knowledge of or reasonable cause to believe that there has been a misappropriation of public funds or assets of the public office, regardless of the amount of such misappropriation, including:
(1) Information obtained as a result of a police report;
(2) An internal audit finding; or
(3) Another source indicating that a misappropriation has occurred;
shall immediately send written notice of the misappropriation to the State Board of Accounts and to the prosecuting attorney serving in the area governed by the political subdivision.
(Ord. 2016-4, passed 2-8-2016; Ord. passed 6-13-2016)