07-27-1992 Council Packet - Laserfiche WebLink

Home Browse Search

tor' * * •^' '-^' ■'"• ■<; ^:^V%'.-.' I-if' |r' if- Sfe?;4 ;'?■,' ■^•. ,- jN.> .» * j |fe$- iffc-■ srtirs Ilf; f f ■• V ■'S' j m0'^: ' **=-'W»v ■' ^ ^'i ^ ?k Si*;; s^;- V if \ -i! ■' • • . ■ » '7 V, ^■ # • '7w ' :r fO: FROK: DATE: Ron Moorse, City Administrator Tom Kuehn, Finance Director • V July 24, 1992 80BJBCT: Auditor's Comment Letter Relating to 1991 Audit The attached letter from the City ’s audit firm of Malloy, Karno'««ski, Radosevich & Co., P.A. relates to the 1991 fiscal year audit completed June 1, 1992. The letter is for the purpose of assisting the City with financial planning and improvement of the records. The one area the auditors noted a concern was with regard to the timely depositing of city receipts, referring specifically to one instance where a check for about $17,000 was not deposited for a week and a half. The delay in deposit referred to in the auditor letter was the result of the check being receipted on a Friday, apparently after the cash register was cleared for that week, and being deposited the following Friday. The deposit delivery to the bank was apparently after the bank's time cut-off, thus b-=»ing recorded as a deposit of the following Monday. As a matter of course we deposit at least weekly and if there are large checks, such as tax receipts from the County we deposit on the day received. However, we will review the receipting/depositing procedures and implement such changes as are needed and practical. On tie whole the auditors were very satisfied with the City's financial records and the work papers prepared by the finance department. I would like to note that the assistance provided to myself and the auditors by Linda and Charlotte was vital and very much appreciated. m .r V':, •1 1.1 i