Follow-Up Audit of Sarasota County Area Transit (SCAT) Bus Operations Cash Handling, December 2017

16 | F o l l o w - u p o f S C A T B u s O p e r a t i o n s C a s h H a n d l i n g D e c e m b e r 2 0 1 7 9. Express Service farebox revenue recorded in the County general ledger Current Status, Follow-Up Audit dated August 2017: Procedures were updated to include generating a daily system report that is specific to revenues collected on buses that run the express service routes. This report is used to record cash receipts for express services on the RFDCF, replacing the previous method of allocating receipts based on the number of buses. Audit testing for the month of March 2017 concluded that the process is functioning as intended. Original Audit Observation, Report dated November 2016: The auditor observed that there are two bank deposit slips and two RFDCF forms completed for each daily deposit processed for pick up by the armored car service. This is due to the bank requesting that the currency be deposited separately from the coins. The RFDCF is formatted to automatically allocate ninety percent (90%) of the total currency and coin receipts to the general ledger account for fixed route services, while the remaining ten percent (10%) is allocated to the general ledger account for express route services. It appears that the ten percent (10%) allocation was determined based on the number of buses in the total fleet that are assigned to express route services. During testing of July 2016 farebox receipts, the auditor requested a GFI report for the express routes for that month. This report showed total revenue of $2,495.57, while the corresponding general ledger account showed $9,046.58, which is 362.5% higher than actual receipts per the GFI system report. The allocation method used for reporting farebox receipts on the RFDCF does not accurately reflect activity. Original Recommendations, Report dated November 2016: To ensure that appropriate general ledger recording occurs, revenue posted to the general ledger for express bus services should be based on actual receipts.