(A) (1) All public funds paid to the city shall be deposited not later than the business day following the receipt of funds on business days of the depository in one or more depositories in the appropriate account by the officer having control of the funds.
(2) The city designates the following as the depositories for all funds:
(a) Mainsource Bank;
(b) Citizens State Bank;
(c) Bank of New York; and
(d) Wells Fargo Bank.
(3) The said named financial institutions that are designated are approved by the Indiana Board for Depositories according to the Official Depository List.
(B) All accounts shall be reconciled at least monthly the balance of public funds, with the bank statements provided by the respective depositories (I.C. 5-13-6-1).
(Ord. 1998-14, passed 10-20-1998; Am. Ord. 2011-18, passed 11-15-2011; Am. Ord. 2013-20, passed 11-5-2013; Am. Ord. 2014-17, passed 8-5-2014; Am. Ord. 2016-8, passed 3-15-2016)