(A) Adoption of Internal Control Standards. The Town Council hereby adopts the internal control standards developed by the State Board of Accounts as published in the uniform internal control standards for Indiana Political Subdivisions ("Minimum Internal Control Standards"), as may be amended from time to time, as the applicable minimum internal control standards for the town.
(B) Oversight body. The Town Council authorizes the Finance Committee to act as the oversight body under the minimum internal control standards to oversee, monitor and ensure that the minimum internal controls are implemented and followed by the town and all of its elected officials, appointed officials and employees.
(C) Management. "Management", as used in the minimum control standards, shall refer to the Clerk-Treasurer, the Town Administrative Manager, and all department heads identified by the Finance Committee as being responsible for designing and implementing controls and control activities for their department.
(D) Training of personnel. Management, under the direction and oversight of the Finance Committee, shall ensure that personnel shall receive training concerning the Minimum Internal Control Standards. For purposes of this subchapter PERSONNEL shall be as defined in IC 5-11-1-27(c) and shall include existing personnel and future hires. The Town Council directs the Finance Committee to identify all personnel who are required to be trained pursuant to this section. Training of each applicable officer or employee shall be documented on the "Internal Control Training Certificate Form" located in the Appendix to the Uniform Internal Control Standards for Indiana Political Subdivisions.
(E) Implementation. Management, subject to the supervision, oversight and approval of the Finance Committee, is hereby directed to review existing internal control policies and procedures in use in each office and department of the town and to modify current internal control policies and procedures and/or develop and implement new internal control policies and procedures as necessary to ensure compliance with the Minimum Internal Control Standards. The Finance Committee and Management shall review all town internal control policies and procedures no less frequently than annually to ensure continued compliance with the minimum internal control standards. All elected officials, appointed officials and employees of the town are hereby directed to abide by and to cooperate fully in the implementation and operation of the internal control system of the town set forth herein.
(Ord. 2016-13, passed 6-22-2016)