The town council through application of home rule hereby authorizes the clerk-treasurer to implement an electronic funds transfer system (EFTS) for the payment of as many town financial obligations as possible as well as for transfers of funds to any state agency or other unit of government.

The clerk-treasurer is further authorized to contract with a bank(s) or other financial institution(s) as are authorized by the state as state depositories to effectuate said electronic funds transfers.

The clerk-treasurer is further authorized to transact the town’s business with a financial institution or a public pension or retirement fund administered by the Indiana public retirement system through the use of electronic funds transfer.

The clerk-treasurer shall maintain an itemized list, or ledger, of each and every such EFT made specifying the payee, amount paid, the purpose for the payment, the date paid, the fund from which the payment is made, the date the expenditure was approved or appropriated by the fiscal body, and any such other information as may be required by the State Board of Accounts (SBOA) in regard to EFTs as utilized by local units of government and to maintain adequate documentation of the individual transactions so that they may be audited as provided by law.

The clerk-treasurer shall be authorized to pay certain expenses of the town in advance of council approval, as provided in HMC 2.05.070. [Added during 2020 recodification.]