Was classified and recorded in accordance with the entity’s chart of accounts and policies and procedures, GAAP, and State/Federal policies as applicable. If the entity uses credit cards or purchasing cards, for each card used, ALL select one month during the period and determine whether card purchases were reconciled to receipts monthly by someone other than the card holder. ALL Through inquiry with management and scanning receipt records, determine what restricted revenue is received by the entity funds, impact fees, B&C road funds, etc.). Select the lesser of 10% or 5 disbursements from restricted funds and determine whether the disbursements were in compliance with restrictions placed on the funds. CASH ALL For each depository account, obtain the year-end bank reconciliation and one additional month’s bank reconciliation and perform the following: Trace the bank balance on the reconciliation to the balance per the bank statement. Trace the reconciled book balance to the general ledger and the amount reported on the Financial Survey. Test the clerical accuracy of the reconciliation. For reconciling greater than 5% of annual revenues, inquire of management and review applicable supporting documentation to determine that the items are consistent with the entity’s policies and procedures, GAAP, and State/Federal policies. Trace the lesser of 10% or five reconciling items to a subsequent bank statement. Trace the lesser of 10% or five deposit transactions and 10% or five disbursement transactions to the general ledger. For each depository bank reconciliation selected above, through ALL inquiry of management and review of the reconciliation, determine whether the bank reconciliation is performed by someone who does not have access to receipts or disbursements. If the individual does have access to receipts or disbursements (including direct access to perform withdrawals/transfers in the bank accounts), determine whether a separate individual reviews the completed bank reconciliation.
Was classified and recorded in accordance with the entity’s chart of accounts and policies and procedures, GAAP, and State/Federal policies as applicable. ALL If the entity uses credit cards or purchasing cards, for each card used, select one month during the period and determine whether card purchases were reconciled to receipts monthly by someone other than the card holder. ALL Through inquiry with management and scanning receipt records, determine what restricted revenue is received by the entity funds, impact fees, B&C road funds, etc.). Select the lesser of 10% or 5 disbursements from restricted funds and determine whether the disbursements were in compliance with restrictions placed on the funds. ALL CASH For each depository account, obtain the year-end bank reconciliation and one additional month’s bank reconciliation and perform the following: Trace the bank balance on the reconciliation to the balance per the bank statement. Trace the reconciled book balance to the general ledger and the amount reported on the Financial Survey. Test the clerical accuracy of the reconciliation. For reconciling greater than 5% of annual revenues, inquire of management and review applicable supporting documentation to determine that the items are consistent with the entity’s policies and procedures, GAAP, and State/Federal policies. Trace the lesser of 10% or five reconciling items to a subsequent bank statement. Trace the lesser of 10% or five deposit transactions and 10% or five disbursement transactions to the general ledger. ALL For each depository bank reconciliation selected above, through inquiry of management and review of the reconciliation, determine whether the bank reconciliation is performed by someone who does not have access to receipts or disbursements. If the individual does have access to receipts or disbursements (including direct access to perform withdrawals/transfers in the bank accounts), determine whether a separate individual reviews the completed bank reconciliation.
2016-Guide-for-AUP-for-Local-Govs.docx