C2069—Cash receipts (restricted revenue) are deposited in separate A/CL bank accounts when legally or contractually required. C2070—The government has a formal deposit policy that limits the A/CL government’s allowable deposits and addresses the specific types of risk to which the government is exposed. C5032—Bank reconciliations are prepared and reviewed in a timely E/O, C, fashion. V, R/O, A/CL, CO is adequate segregation of duties among those who: E/O, C, Authorize rates, fees, fines, or assessments. V, R/O, Prepare tax bills, assessments, permits, license renewals, A/CL, notices, etc. CO Deposit cash receipts. Reconcile bank accounts. Investigate discrepancies or issues related to cash. Maintain access to cash. Post journal entries to the general ledger. C2118—Bank statements are received, downloaded, or accessed E/O, C, online, and reviewed by a responsible person other than the person V, R/O, who reconciles the bank account before being submitted for A/CL, reconciliation. CO Estimating the Allowance for Uncollectible Accounts and Bad Debt Expense C1000—Management reviews the entity’s financial statements on a E/O, C, periodic basis and investigates significant variances from budgets and R/O, V, expected results. A/CL, CO C2026—Accounting policies and procedures specify the correct V, A/CL treatment for estimating the allowance for uncollectible accounts and bad debt expense.
C2069—Cash receipts (restricted revenue) are deposited in separate bank accounts when legally or contractually required. A/CL C2070—The government has a formal deposit policy that limits the government’s allowable deposits and addresses the specific types of risk to which the government is exposed. A/CL C5032—Bank reconciliations are prepared and reviewed in a timely fashion. E/O, C, V, R/O, A/CL, CO is adequate segregation of duties among those who: Authorize rates, fees, fines, or assessments. Prepare tax bills, assessments, permits, license renewals, notices, etc. Deposit cash receipts. Reconcile bank accounts. Investigate discrepancies or issues related to cash. Maintain access to cash. Post journal entries to the general ledger. E/O, C, V, R/O, A/CL, CO C2118—Bank statements are received, downloaded, or accessed online, and reviewed by a responsible person other than the person who reconciles the bank account before being submitted for reconciliation. E/O, C, V, R/O, A/CL, CO Estimating the Allowance for Uncollectible Accounts and Bad Debt Expense C1000—Management reviews the entity’s financial statements on a periodic basis and investigates significant variances from budgets and expected results. E/O, C, R/O, V, A/CL, CO C2026—Accounting policies and procedures specify the correct treatment for estimating the allowance for uncollectible accounts and bad debt expense. V, A/CL
ALG%20CX%205%209%20Revenues%20Receivables%20Recpts%20Govt%20Funds.docx