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Publié par | Aprea |
Nombre de lectures | 18 |
Langue | Español |
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Town of Nantucket
Audit Committee Meeting
thMinutes – Audit Committee Meeting October 8 , 2008
Approved November 5, 2008
Present: Mr. Jim Kelly, Mr. Michael Kopko, Ms. Patricia Roggeveen, Ms. Connie Voges,
Mr. Bob Dickinson, and Mr. Malachy Rice
Absent: Ms. Libby Gibson
Also present: Mr. Whiting Willauer, and Mr. Craig Abernathy
1. Call to Order:
Mr. Kopko called the meeting to order at 9:00 AM.
2. Announcements and Updates:
Mr. Rice stated the Ms. Gibson was unable to attend the meeting due to a
scheduling conflict. He said that he would like to begin the meeting with a brief update
of the Abrahams Group Study. In the past few weeks, Mr. Rice said that he, Ms. Gibson
and Ms. Voges met with the School and Enterprise funds. On the Thursday and Friday
before the meeting, Mr. Rice said that the Abrahams Group had been in Nantucket to
work on the development of the implementation plan with Ms. Voges and the Finance
Department. He added that he expected to have an outline of the implementation plan
in mid‐October, and then have a fully vetted plan in mid‐November.
In another update to the Abrahams Group process, Ms. Voges said that in the
last week Kathy Griffin and Mark met with key lead Finance Department staff.
The Abrahams Group also introduced David Wilkerson, Controller for the City of
Newton. Ms. Voges said the primary focus of the meetings was the last quarter of the
calendar year, October through December. She noted that a few changes were needed
after talking through ideas about implementation, and in the end it was a fruitful
meeting.
Minutes – Audit Committee
thOctober 8 , 2008 Page 2 of 6
On the status of cash reconciliations for FY 2009, Mr. Dickinson stated that he
thmet with Renee Davis from Powers and Sullivan on September 30 , 2008. He said that
he went through the process of reconciling from bank statement, to cash book, to the
general ledger. Mr. Dickinson said that all reconciliations for July were complete, and
that he is now finishing August and working on reconciliations for September. He added
that there was much work to be done, but in terms of transactions reconciliations have
been performed to the penny for July and August.
Mr. Dickinson then presented members of the Committee with a brief summary
of reconciliation procedures. In listing items that affect the Town’s cash, Mr. Dickinson
cited cash receipts, payroll, disbursements and journal entries. Mr. Dickinson stated
that using a new format he and Treasurer Deborah Weiner could look at what is in the
general ledger compared to Treasurer’s Cash and then find any discrepancies. Mr. Kelly
asked if the Mr. Dickinson had begun to identify opportunities for improvement after
documenting the reconciliation process. Mr. Dickinson answered that he had identified
a lot of problems with the way the Town takes cash. He noted that one problem with
cash receipts was that sometimes cash codes post to incorrect accounts.
Mr. Kopko asked where the Town receives cash. Mr. Dickinson replied that most
Town departments receive cash, listing the School, Building Department, Marine
Department, and Parking as examples. Ms. Voges said that each type of receipt has a
different code to direct it to the proper place in the general ledger. These codes vary
between three and five digits, and they tie the receipts to anywhere from two to six to
twelve accounts. As an example Ms. Voges cited the Boat Excise fund, as its proceeds
are split between the general ledger and the Waterways Improvement Fund.
Mr. Dickinson said that this process has helped identify a lot of the problems
with how the system actually works. He stated that he is working on an operating
procedure for handling cash. Mr. Dickinson said that receivables that are generated by
a separate system are handled in several different ways. He stated that he and Ms.
Larivee are looking at methods of standardizing cash receipts.
Recalling the Abrahams Group Report, Mr. Kopko asked if these problems had to
do with the Enterprise funds and the School. Ms. Voges answered that Mr. Kopko was
correct. She added that there are also areas where there is job specific software that
performs much better than MUNIS, the software used for Town accounting. In these
cases, she said the departments have to adapt data and pull it into MUNIS. In speaking
with the Abrahams Group the week before, Ms. Voges said it was interesting to talk with
Mr. Wilkerson about Newton’s software usage. In that case, MUNIS is only used for
receivables, while Pentamation is used for all other purposes. She said that
Pentamation was used in this manner because it was a far better system for processing
everything except receivables.
Minutes – Audit Committee
thOctober 8 , 2008 Page 3 of 6
Mr. Kelly praised the cash reconciliation plan. Mr. Dickinson said that he is
implementing daily reconciliation of cash receipts that are received by the Treasurer’s
office. He said that looking at receipts with