The Risk Management Division of the Finance Department is authorized to investigate claims and actions and shall consult with the Prosecuting Attorney on the question of liability within 60 days after receipt of the claim or action. Upon the concurrence of the Prosecuting Attorney, the Risk Management Division of the Finance Department may settle or deny claims or actions up to a maximum of $100,000.00 without the approval of the County Council; provided, however, that if the Prosecuting Attorney does not concur with Risk Management on the issue of settlement or denial of claims or actions up to $100,000.00, the Prosecuting Attorney shall present the matter to the Council for decision. The Risk Manager shall report to the Council, on a quarterly basis, all outstanding claims, and settlements made, during the reporting period. All proposed settlements in excess of $100,000.00 shall be submitted by the Prosecuting Attorney and the Risk Management Division of the Finance Department to the County Council for approval.