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r <br />I' <br /><* <br />a;.ff <br />(! <br />R <br />R <br />R <br />n <br />m <br />M <br />a <br />t.' <br />M <br />»* <br />I P* <br />P*u <br />la <br />M <br />f <br />I •• <br />I i <br />I « <br />Ml <br />•ACK( <br />We have prepared this report at the request of the Orooo City ComicU as approved at the June 27, 1994 <br />Couacil BHctiiy. The pvrpose of the study b to evahiaie the accountinf responsibilities and procedures <br />of the City, and to provide reconnnendatiow for improvement of internal cimtrob. The study focussed <br />specifically on the aegr^ation of duties which covered the following areas: <br />* General cash receipts <br />* Golf course receipts <br />* General check dbburaenns <br />* Payroll <br />* Cross training <br />Thb report snaunariies our findings and recommendations based on interviews of City personnel. <br />rvalion of your operations, and our experience with similar organizations. Many of the conunents <br />and proc edures suggested in thb report are from ideas md feedback received from your finance staff. <br />To best utilize thb retort it b important for the reader to be aware of the basic concepts of imcrnal1,1 <br />controb. Internal controb are safeguards designed within dw accounting procedures to protect the City’s <br />assett from loss, diefr, or misuse and help to ensure accurate financial data. These procedures should <br />be both practical and cost effective in relation to the assets and financul information the controls are <br />intended to protect. <br />A primary goal in the design of accouitting controb b to separate the responsibilities of accounting <br />functions so that an individual diies not have access to both a particular City asset (i.e., cash, checks. <br />equipment, etc.) and the ability to modify the related accounting records (i.e., receipt/dbburse* <br />mentypayrol) joumab, bank reconciliations, etc.) which are intended to keep track of those assets <br />-1-