§ 34.111 SAFEGUARDING OF ASSETS.

   Accounting controls shall be designed and implemented to provide reasonable assurances that:

   (A)   Capital expenditures made by the city, its various departments and utilities are in accordance with management's authorization as documented in §§ 32.65 and 32.66;

   (B)   Transactions of the utilities are recorded as necessary to permit preparation of financial statements in conformity with general accepted principles;

   (C)   Adequate detailed records are maintained to assure accountability for city- and utility- owned assets;

   (D)   Access to assets is permitted in accordance with management's authorization;

   (E)   The recorded accountability for assets is compared with the existing assets at least every two years and appropriate action is taken with respect to any differences.

(Ord. 2002-13, passed 10-21-02; Am. Ord. 2005-03, passed 3-21-05)