(A) The Finance Director is responsible for establishing and maintaining an internal control document designed to insure that the assets of the entity are protected from loss, theft or misuse. The internal control document shall be designed to provide reasonable assurance that these objectives are met.
(B) The internal controls shall address the following points:
(1) Control of collusion;
(2) Separation of transaction authority from accounting;
(3) Custodial safekeeping;
(4) Written confirmation of telephone transactions for investments and wire transfers.
(Ord. 656, passed 11-9-99)