Expenditures from the criminal investigation fund shall be made only by the chief of police or, in his absence, whoever is acting as the chief of police, under such authority and pursuant to such limitations as may be granted and imposed by the board of police commissioners. Such authority and limitations may, but shall not be limited to the following:

(1) The dollar amount of law enforcement expenditures which may be made without prior approval by the board of police commissioners;

(2) Fidelity bond requirements;

(3) Depository or depositories of the criminal investigation fund;

(4) Types and amounts of interest-bearing and/or non-interest-bearing investments;

(5) Reporting requirements by the chief of police on the dollars received and expenditures made from the criminal investigation fund, which reports must be made at least annually. (Ord. 804 § 4, 1992).