(a) The Treasurer shall, before entering upon Treasurer duties, give to the City a bond executed by some surety company authorized to do business in the State of Washington, in such sum as the Council shall prescribe by ordinance, and the premium shall be prescribed by ordinance, and the premium shall be paid by the City.

(b) The Treasurer shall establish internal control policies based on the standards promulgated by the American Institute of Certified Public Accountants and the federal Office of Management and Budget to ensure that resources are guarded against waste, loss and misuse; that reliable data is obtained, maintained, and fairly disclosed in financial statements; and resource use is consistent with laws, regulations, and policies.

(c) Should there come into the hands of any other officer or employee of the City any money belonging to the City, he or she shall immediately pay the money to the Treasurer, taking a receipt in return. (Ord. 2924-06 § 16 (part), 2006)