The Board didn't present satisfactory oversight for money activities. The Board did not involve in its bylaws, or adopt, guidelines and methods for dollars receipts and fundraising routines. Additionally, the Board did not create a code of ethics or on a yearly basis audit the Treasurer's documents. Hence, we verified that all deposits ended up recorded within the month to month Treasurer's stories. We also reviewed dollars receipts regarding the business's two fundraising activities for the duration of 2016.
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We discovered that collections were being accurately recorded and deposited but deposits were not normally well timed. The Justice didn't deposit collections totaling $36,755 in a timely method. The Justice geared up correct month to month lender reconciliations and accountabilities and funds disbursements were being accurate.
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The District Clerk's (clerk) duties usually are not sufficiently segregated since she procedures all non-payroll and payroll disbursements with confined oversight. As an example, the clerk can add distributors, course of action invoices and report disbursements in the computer procedure. The clerk can be answerable for carrying out almost all human source and payroll features, including incorporating and taking away employee data in the payroll system, moving into and adjusting shell out prices and processing payrolls.
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The Board adopted a resolution designating the Board President and One more Board member to audit claims on its behalf and evidence their audit by signing the warrant. The Board President advised us he critiques promises to be certain they incorporate adequate supporting documentation and they are for legitimate purposes, after which indications the warrant to proof his review. He acknowledged, on the other hand, he does not critique each claim. Fairly, the Board President evaluations specific claims only when questions come up for instance unrecognized suppliers or unreasonable or superior greenback quantities as demonstrated to the warrant.
The Board adopted a obtaining policy that expected District officials to ascertain written treatments for procuring goods and services not issue to competitive bidding requirements, including Qualified companies, and officials did so. Nonetheless, the treatments weren't adequately in-depth and didn't present ample guidance for workers or perhaps the obtaining agent. We reviewed the District's procurement of fourteen Experienced assistance vendors which were paid out around $1.forty six million during our audit time period to ascertain irrespective of whether officials made use of a process that ensured the prudent and inexpensive usage of community money, which include aggressive bids, requests for proposals (RFPs) or published/verbal quotations, while buying these companies.
The Board hasn't adopted fiscal guidelines for expenditure, procurement, promises processing or composed techniques about economic recording and reporting. The Board is not really adequately monitoring the District's fiscal functions as regular monthly budget status reports, bank reconciliations, lender statements and cancelled Verify illustrations or photos aren't presented or reviewed. The Board's lack of critique of your Treasurer's documents drastically diminishes its oversight of your District's funds and may lead to problems and misstatements that continue being undetected and uncorrected.
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