4 | Unannounced Audit of Petty Cash and Change Funds February 2022 The objectives of this audit were to determine if (1) internal controls over petty cash and change funds are operating effectively, (2) departments are in compliance with the Accounting Policies and Procedures, and (3) reconciled balance of funds agree to the amount recorded on the Certificate and Receipt of Imprest Funds. To meet the objectives of the audit, the procedures performed included, but were not limited to, the following: • Obtained an understanding of the Accounting Policies and Procedures as they relate to petty cash and change funds. • Performed inquiries of County personnel. • Evaluated internal controls related to segregation of duties and safeguarding the County’s assets, specifically for petty cash and change funds. • Reconciled a random sample of 17 out of 34 imprest funds, which includes only change funds since there are no petty cash funds open, and compared the balance to the amount recorded on the Certificate and Receipt of Imprest Funds. • Review Cash Management training records maintained by Human Resources. • Validated that the electronic document retention system (OnBase) is utilized to archive the approved Certificate and Receipt of Imprest Funds forms. • Identified Opportunities for Improvement.
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