6 | Unannounced Audit of Petty Cash and Change Funds November 2024 1. Receipts for Deposit of County Funds and Deposit Ticket Processing Observation Starting from the date that each sampled fund's unannounced cash count was conducted, the Internal Audit Department, IAD, obtained the previous two weeks of Receipt for Deposit of County Funds forms that were for cash deposits only. If a fund had not made any cash deposits within the 14-day time frame, the 3 most recent Receipt for Deposit of County Funds forms, with cash deposits, were utilized for testing. In total, there were 39 Receipt for Deposit of County Funds forms that were identified and analyzed for the 17 sampled Imprest Funds. During the review and testing of the Receipt for Deposit of County Funds (RFDCFs), IAD noted various deviations comprised of: • 1 sample with a deposit ticket that included two separate cash amounts received on different dates, leaving the deposit ticket to not be completed until four (4) business days after the first deposit was received, and • 3 samples, all at the same location, had RFDCFs that were "received/uploaded" to the Finance Department more than 6 business days from when the custodian first received the cash for deposit Accounting Policies and Procedures Chapter 9.2, Business Center Receipt, Balance, and Deposit of Cash, lists that "management is responsible for ensuring cash and checks are deposited daily" (Policy 4) and that the Receipt for Deposit of County Funds should be prepared "no later than the next [business] day" (Procedure 7). Chapter 9.2 also requires that each Receipt for Deposit of County Fund form be submitted with a completed bank deposit ticket and supporting documentation related to the cash deposit, like receipts, system generated reports, and/or cash register tapes. Compliance is required unless instructed otherwise by department operating procedures approved by OFM and the Finance Department. Recommendation IAD recommends to review and closely adhere to Chapter 9.2 of the Accounting Policies and Procedures with each fund. • Preparing the Receipt for Deposit of County Funds form "no later than the next [business] day" from when the cash deposit is received • Ensuring the RFDCFs are submitted to the Finance Department within a timely manner. Management Response We are in agreement with the recommendations. Results of findings have been communicated to the management team and staff where adherence to policies and procedures were not followed. We will continue to emphasize the annual Cash Management training, which includes the timing requirements as specified within Accounting Policies and Procedures Chapter 9.2, Business Center Receipt, Balance, and Deposit of Cash.
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