(a) Generally. The accounting and financial records shall be maintained in accordance with generally accepted accounting principles.
(b) Maintenance. The Auditor and his designees shall maintain the accounting records and establish such ledger accounts as are necessary and appropriate to the efficient operation of the plan.
(c) Accumulated Fund. Salary reductions shall be accumulated in a fund to be known as "the Employees' Salary Reduction - Sheltered Annuity Plan" with authority in the Auditor, or his designee, to make such disbursements or transfer of funds in such account as he may be directed to do by the terms of the employer-participant agreement or as authorized by the Committee under their authority set forth in Section 161.04
.
(Ord. 60-1973. Passed 6-12-73.)