Be it ordained that accounting controls be designed and implemented to provide reasonable assurances that:
(A) Capital expenditures made by the city, its various departments and utilities be in accordance with management’s authorization as documented in the minutes.
(B) Transactions of the utilities be recorded as necessary to permit preparation of financial statements in conformity with generally accepted principles.
(C) Adequate detail records be maintained to assure account-ability for city and utility owned assets.
(D) Access to assets be permitted in accordance with management’s authorization.
(E) The recorded accountability for assets be compared with the existing assets at least every two years and appropriate action be taken with respect to any differences.
(Ord. 95-15, passed 8-14-95)