Trustees of the $5.4 billion Police and Firemen's Disability and Pension Fund of Ohio, Columbus, will begin using an independent internal auditor, as recommended by Ohio State Auditor Jim Petro. The fund performs an annual financial audit of its investments, but that doesn't take into account the day-to-day operations of the fund, said Henry Helling, executive director. The internal audit would determine if the proper financial controls are in place, and that the fund is in compliance with government reporting standards.
The trustees also approved Mr. Petro's recommendation to eliminate direct credit card billing for board members; establish a formal RFP process with a ``Buy Ohio'' component; and implement a trustee travel policy that requires approval at a public meeting.
