7 | Unannounced Audit of Petty Cash and Change Funds February 2022 2. Certificate and Receipt of Imprest Fund. Observation Accounting Policies and Procedures, Chapter 9.5 Change Fund states: • “Submit the completed Sarasota County Certificate and Receipt of Imprest Funds form to the Director of Finance or the Accounts Payable Manager, to establish and authorize the amount of the change fund. The form must be submitted by the Executive Director and must designate who will be the custodian of the fund.” During review of the Certificate and Receipt of Imprest Funds form for the 17 sampled funds, the following instances of non-compliance was observed: • Two Certificate and Receipt of Imprest Fund forms indicated that the custodian took receipt of the funds prior to approval by the department director’s signature. Recommendation To ensure approval of fund custodians by the Departmental Director or Manager occurs prior to transfer of the funds, mandate compliance with the Accounting Policies and Procedures, Chapters 9.5. Management Response Provide management’s response here.
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