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

5 |  A u d i t 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  N o v e m b e r 2 0 1 6 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 :   (Standard 2120.A1) Risk exposures related to the organization’s operations,  particularly the safeguarding of assets, and   (Standard 2130.A1) Adequacy and effectiveness of controls, particularly the reliability  and integrity of financial information, the effectiveness and efficiency of operations,  and the safeguarding of assets.  The Opportunities for Improvement presented in this report may not be all‐inclusive of areas  where improvement may be needed. There were nine (9) Opportunities for Improvement  identified as a result of the audit:  1. Safeguarding of the secondary collection receptacle  2. Authorized vault access   3. Security equipment controls  4. Departmental Policy and Procedures for reconciliation   5. Monitoring reports that log vault access activity 6. Monitoring of over/short detected by the bank   7. Timely submission of deposit documentation   8. Supporting documentation with deposit form  9. Express Service farebox revenue recorded in the County general ledger