Keefe, McCullough & Co. - Laserfiche WebLink

Home Browse Search

II I I ,I I I I I I I I I I I I I I I I CITY OF WESTON, FLORIDA INTERNAL CONTROL COMMENTS AND RECOMMENDATIONS September 30, 2006 CURRENT YEAR INTERNAL CONTROL COMMENTS AND RECOMMENDATIONS (continued): Site plan and other deposits held During our audit, we noted that various deposit accounts contain transactions that in certain cases date back several years. We recommend that the City's engineers periodically review the lists of deposits held and determine which projects/jobs have been completed so that appropriate action may be initiated by the accounting department to collect additional funds, refund unused monies or mark the project/job as completed in the City's database. Management Response: The City will review the status of all site plan and other deposits recorded on the City's database. In addition, the City has implemented procedures to ensure communication with the City engineers to periodically review the outstanding projects and to undertake the appropriate action as required. Accounting department staffing We recommend that the City establish procedures to cross-train employees. Cross-trained employees should be sufficiently trained to perform all accounting and recordkeeping functions to allow for improvements in the following areas: Adjust encumbrances on a monthly basis in order to provide an accurate picture of expenditures versus budget. Journal entries, accompanied by a full explanation and supporting documentation, should be initialed by the preparer and reviewer and stored in a journal entry book. Bank reconciliations should be signed and dated by both the preparer and reviewer. Every invoice accompanied by a purchase order, resolution and/or additional documentation, should be reviewed and initialed by a designated individual for properfund/expense coding before being recorded into the City's accounting system. Management Response: The City has employed an additional accountant and intends on implementing for fiscal year 2006- 2007 the recommendations noted. In addition, both City accountants will be trained in all aspects of the City's recordkeeping, accounting and financial reporting to obtain assurance that the accounting function is adequately staffed.