By administrative procedure, the Mayor shall adopt and establish a system of internal controls within the Financial Services Department, and the other departments of the Borough administrative staff, to provide checks and balances within the process by which Borough moneys are invested. The internal controls shall be designed to minimize the risk of loss of public funds resulting from fraud, employee error, misrepresentation by third parties, anticipated changes in financial markets or imprudent actions by Borough officials and employees. The Borough’s external auditors shall review and evaluate, at least annually, the system of internal controls to ensure that they are adequate for accomplishing the purposes stated in this section. (Ord. 87-069 § 4, 1988. 2004 Code § 3.04.070.)