Page 418 - FY 2026-2027 Adopted Budget Book

appropriate:

a. Audited financial statements
b. Proof of Financial Industry Regulatory Authority (FINRA) certification
c. Proof of state registration
d. Completed broker/dealer questionnaire

The Investment Committee shall review, revise, and adopt a list of authorized
broker/dealers at least annually.

2. Internal Controls. The Director of Finance is responsible for establishing and
maintaining an internal control structure designed to ensure that the assets of Bedford are
protected from loss, theft or misuse. The internal control structure shall be designed to
provide reasonable assurance that these objectives are met. The concept of reasonable
assurance recognizes that (1) the cost of a control should not exceed the benefits likely to
be derived and (2) the valuation of costs and benefits require estimates and judgments by
management.

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