Audit Report On The Queens Borough President’s Office’s Cash Controls Over Receipts From Minor Sales
Audit Report On The Queens Borough President’s Office’s Cash Controls Over Receipts From Minor Sales
EXECUTIVE SUMMARY
This audit determined whether the Queens Borough President’s Office (QBPO) is in compliance with Comptroller’s Directive #11, Cash Accountability and Control.
The QBPO 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 QBPO accepts credit cards, certified checks, and money orders as payment for the fees it charges for these services.
According to the City’s Financial Management System, the QBPO deposited a total of $225,730 in revenue generated from sales made by the Topographical Unit.
Results
The audit found that the QBPO generally complied with the cash control procedures set forth in Comptroller’s Directive #11. Our review found that the QBPO adequately segregated duties with the various cash handling processes. The QBPO ensured that the cash receipt amounts agreed with the amounts deposited into the corresponding bank accounts and deposits were entered in to the City’s Financial Management System. All checks received were made payable to the QBPO and a rubber stamp endorsement was placed on the back of all checks. The QBPO 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.
Additionally, the QBPO did not accept cash, personal checks or company checks as payment, a practice that is strongly recommended by Comptroller’s Directive #11. Lastly, the QBPO generally made daily deposits of the funds collected (bank checks and money orders) as required by 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 QBPO stated, “We are pleased that the Comptroller’s Office found that the Queens Borough President’s Office (‘QBPO’) generally complied with the cash control procedures set forth in the Comptroller’s Directive #11 and that no recommendations were made.”