Where deemed necessary, the City Treasurer or his designee shall establish a system of internal controls, which shall be documented in writing. These internal controls and this investment policy shall be reviewed by an independent, certified public accountant in conjunction with the annual examination of the financial statements of the city. The controls shall be designed to prevent losses of the city funds arising from fraud, employee error, misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by employees.
(Ord. 99-O-17, passed - -99; Am. Ord. 2001-O-13, passed - -01)