(A) All erroneous or irregular variances, losses, shortages, or thefts of the town subdivision funds or property, or funds or property the town holds in trust, shall be reported to the Clerk-Treasurer or his or her designee promptly upon discovery.
(B) It will be the policy of the Clerk-Treasurer to report to the State Board of Accounts and to the Town Council of Monon, Indiana, any erroneous variances, losses, shortages, or thefts of cash in excess of $500, except for inadvertent clerical errors that are identified timely and promptly corrected with no loss to the town. The Clerk-Treasurer shall report any and all erroneous variances, losses, shortages, or thefts of cash of $20 or more occurring on a repetitive basis lasting for four weeks or more.
(C) It will be the policy of the Clerk-Treasurer to report promptly to the State Board of Accounts and the Town Council of Monon, Indiana, any erroneous variances, losses, shortages, or thefts of non-cash items in excess of $2,000 estimated market value, except for those resulting from inadvertent clerical errors or misplacements that are identified in a timely manner and promptly corrected with no loss to the town, except for losses from genuine accidents.
(D) All town elected officials are requested, and all town employees and agents are directed, to comply with this policy, and the Town Council if requested to endorse it.
(E) The Clerk-Treasurer shall, when an irregular variance, loss, shortage, or theft is determined material according to the town’s policy on materiality, report the incident to the State Board of Accounts. This reporting may take place through a reporting link on the State Board of Accounts website, by e-mail, or in person.
(Res. 2016-02, passed 3-1-2016)