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1. Cash and Investments <br />Will adjust the bank reconciliation process to have the City Administrator sign off on it <br />once it is complete each month. The current City Administrator has been involved in the <br />bank reconciliation process in the past and would have sufficient knowledge to review the <br />work. City Administrator already signs off on investment purchases. <br /> <br />2. Revenue/Receivables – Taxes/Special Assessments/Other <br />Finance Director will need to train the Accounting Analyst on taxes and special assessments <br />so that one can prepare the entry and one can review and approve it. Would also need to <br />determine how comfortable the Accounting Analyst is with any other journal entries she <br />may need to review and approve, and train as necessary. <br />Finance Director needs to add a process to look for write offs not approved. This would <br />most likely involve creating a new report to pull adjustments made to accounts and <br />reconciling them against approved adjustments. <br /> <br />3. Revenue/Receivables – Utility Funds <br />The majority of this work is completed by the Accounting Clerk and reviewed by the <br />Finance Director. Will need to set up a new process for the Accounting Analyst to regularly <br />reconcile the aging report to the general ledger. <br /> <br />4. Accounts Payable and Prepaid Items <br />Currently the Finance Director prepares these work papers. Need to train the Accounting <br />Analyst on preparing them and only have the Finance Director review them. Looking at <br />expanding the positive pay program to include matching of the vendor name. Should checks <br />be put in mail by someone not involved in the payable process to ensure vendor names <br />match the check proof list? <br /> <br />5. Payroll, Pensions, OPEB <br />Review access permissions for Springbrook. Only allow VIEW permissions for employees <br />needing access but not involved in processing, such as the City Administrator. The auditors <br />currently assist to develop the entries needed for pensions and OPEB and I don’t see how <br />this can be changed. <br /> <br />6. Inventories <br />The City only carries an inventory for water meters on its books. The amount is not <br />significant enough to warrant any changes. <br /> <br />7. Capital Assets <br />This is an area where the City would probably need additional staffing or to contract out for <br />someone to prepare the year end work papers and then have the Finance Director review <br />them. This is not recommended by staff. <br /> <br />8. Interfund Transactions and Balances <br />The auditor is comfortable with the City process. <br /> <br />9. Debt and Debt Service <br />Currently the Finance Director prepares these work papers. Determine the feasibility of <br />training the Accounting Analyst on preparing them and only have the Finance Director <br />review them.