The Director of Finance shall have established a system of controls governing the administration and management of the city's investment portfolio, and these controls shall be documented in writing. Such controls shall be designed to prevent and control losses of city monies arising from fraud, employee error, misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by any personnel. Such internal controls and compliance therewith shall be subject to review during the annual audit conducted by or on behalf of the Auditor of the State of Ohio.
(1974 Code, § 39.27) (Ord. 9-94, passed 5-2-1994; Am. Ord. 11-19, passed 5-6-2019)