A.    The clerk-treasurer has the authority to transfer funds initiated through an electronic terminal, telephone, computer or magnetic tape for the following purposes: ordering, instructing or authorizing a financial institution to debit or credit any account established and maintained for the investment of moneys deposited with the city, ACH payroll direct deposit, transfer of funds as necessitated by bond issue, bonded indebtedness principal and interest payments, receipt and disbursement of funds from other governmental agencies.

    B.    The common council shall require the clerk-treasurer to maintain adequate documentation of the transactions so that they may be audited as provided by law. (Ord. 94-53 § 2, 1994; prior code § 7-3)