(A) The City Council hereby endorses the Clerk-Treasurer's Directive, attached to Ordinance 2016-03 and incorporated by reference as if full set forth herein, regarding a policy on materiality and process for reporting material losses.
(B) The City Council calls upon the Clerk-Treasurer and all city officials, employees, and agents to enforce and comply with said policy on materiality and process for reporting material items and to report as required noteworthy to the City Oversight Committee or the full City Council.
(C) The City Council directs its Oversight Committee to monitor, as it deems necessary, compliance with the policy on materiality and process for reporting material items and report noteworthy items to the full City Council.
(D) The City Council asks the Clerk-Treasurer to advise the City Council of any changes in the policy on materiality and process for reporting material items.
(Ord. 2016-03, passed 3-21-16)