Ordinances 2016 - Laserfiche WebLink

Home Browse Search

Principle 3: Management establishes an organizational structure, assigns responsibility and delegates authority to achieve the entity's objectives. Individuals with delegated approval authority, e.g. Elected Officials and Department Heads are responsible for establishing, maintaining and supporting a system of internal controls within their areas of responsibility and for creating the control environment that encourages compliance with Town policies and procedures. Adequate supervision is necessary to monitor that internal controls are operating as intended and to help ensure the reliability of accounting and operational controls by pointing out errors, omissions, exceptions and inconsistencies in procedures. Staff in leadership rolls are responsible for the application of this policy and the design, development, implementation and maintenance of systems of internal controls focusing on the effectiveness of operations and the safeguarding of assets within their respective areas of responsibility. All levels of management and supervision are responsible for strengthening internal controls when weaknesses are detected. Department managers should periodically review departmental procedures to ensure that the general principles of internal control are being followed. The Clerk -Treasurer's Office has the primary responsibility for internal control over financial reporting and compliance with applicable laws, rules and regulations. The Clerk -Treasurer is the Town's chief source for information and assistance to staff and Department Heads on this topic and will make resources available to assist in administering this policy. The Town Council is responsible for internal controls over employee recruitment, hiring, separation, promotion, job classification, employee rights and salary administration. The Clerk -Treasurer is the Town source for information and assistance on this topic and will make resources available to assist in administering this policy. 10 All levels of internal control are subject to examination by external auditors who are required to report on the adequacy of internal controls over finance and compliance.