Audit Report on the Bronx Borough President’s Office’s Cash Controls over Receipts from Minor Sales
Audit Report on the Bronx Borough President’s Office’s Cash Controls over Receipts from Minor Sales
EXECUTIVE SUMMARY
This audit determined whether the Bronx Borough President’s Office (BBPO) is in compliance with Comptroller’s Directive #11, Cash Accountability and Control.
The BBPO has a Topographical Unit that, for a fee, supplies the public with street maps, grade studies, and certifications related to building and development, and issues new or alternative street addresses. The BBPO accepts certified checks and money orders as payment for the fees it charges for these services. It only accepts cash for the reproduction of maps because those fees are nominal.
According to the City’s Financial Management System, the BBPO deposited a total of $42,275 in revenue generated from sales made by the Topographical Unit during Fiscal Year 2014.
Results
The audit found that the BBPO generally complied with the cash control procedures set forth in Comptroller’s Directive #11 for its Topographical Unit sales. Our review found that the BBPO adequately segregated duties with the various cash handling processes. The BBPO ensured that the cash receipt amounts agreed with the amounts deposited in bank accounts and deposits were entered in to the City’s Financial Management System. All checks received were made payable to the NYC Department of Finance and a rubber stamp endorsement was placed on the back of all checks. The BBPO also maintained copies of bank deposit slips as well as pre-numbered customer receipts. The daily cash receipts were stored in the agency safe when the deposits could not be made.
The BBPO only accepted certified checks and money orders for grade studies, certifications related to building and development and issuance of new or alternative street addresses. Additionally, the BBPO accepted cash for nominal fees charged for the reproductions of maps. Comptroller’s Directive #11 states that “the acceptance of currency or other types of negotiable or bearer instruments should be avoided wherever practical.” Lastly, BBPO deposited $3,400 of the $3,700 collected during November 2013 on the same day it was collected. The remaining $300 was deposited the next day. Thus, the BBPO complied with Comptroller’s Directive #11,which states, “generally, all funds received must be deposited in the bank on at least a daily basis.”
In its response, the BBPO stated, “We are pleased to inform you that we do not have any comments since we agree with your findings.The lack of recommendations from your agency clearly support that this agency generally complies with the cash control procedures set forth in the Comptroller’s Directive #11.”