§ 34.26 SAFEGUARDING OF ASSETS.
   Be it ordained that accounting controls be designed and implemented to provide reasonable assurances that:
   (A)   Capital expenditures made by the town, its various departments and utilities be in accordance with management’s authorization as documented in the minutes;
   (B)   Transactions of the utilities be recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles;
   (C)   Adequate detail records be maintained to assure accountability for town and utility owned assets;
   (D)   Access to assets be permitted in accordance with management’s authorization;
   (E)   The recorded accountability for assets be compared with the existing assets at least every year and appropriate action be taken with respect to any differences.
(Ord. 354, passed 5-21-1996)