7 | Audit of Public Utilities Billing and Collection Processes July 2024 Opportunities for Improvement and Management Responses The audit disclosed certain policies, procedures, and/or practices that could be improved. The audit was neither designed nor intended to be a detailed study of every relevant system, procedure, or transaction. As a result of the audit, observations and recommendations identified below are related to Standards: International Professional Practice Framework Standards (2017) • (Standard 2110) Communicating risk and control information to appropriate areas of the organization, and • (Standard 2130.A1) The effectiveness of controls related to operations and programs, reliability and integrity of financial and operational information, and compliance with laws, regulations, policies, procedures, and contracts. Global Internal Audit Standards (2024) • (Standard 9.1) Communicates risk and control information throughout the organization. • (Standard 9.1) To understand risk management and control processes, the chief audit executive must consider how the organization identifies and assesses significant risks and selects appropriate control processes. This includes understanding how the organization identifies and manages the following key risk areas: Effectiveness and efficiency of operations and programs, Reliability and integrity of financial and operational information, Safeguarding of assets and Compliance with laws and/or regulations. The Opportunities for Improvement presented in this report may not be all-inclusive of areas where improvement may be needed. There were five (5) Opportunities for Improvement identified as a result of the audit: 1. Non-Compliance with County Resolution No. 2022-185, Order Adopting and Ratifying Water, Wastewater, Reclaimed Water, and Other Utility Rates, Fees, and Charges for the Sarasota County Utilities System, regarding security deposit fees with one (1) instance of an incorrect security deposit charged to a customer 2. Non-Compliance with Standard Operating Procedure 520.56.1, Setting Up New Commercial Account, regarding attaching required documentation in the billing system and inconsistency with Standard Operating Procedures for creating new customer accounts
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