Res. #12-010 - Approval of Internal Control Procedures

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in the general ledger. 1. Expense reports for travel related expenses shall be submitted on a timely basis and any mileage claims shall include vehicle odometer readings or Mapquest verification. m. Checks by which claims are paid shall have printed on the reverse side, above the space for endorsement: "The undersigned payee, in endorsing this check declares that the same is received in payment of a just and correct claim against the City of Centerville, and that no part of it has heretofore been paid." n. In accordance with M.S. 471.425, subd. 2, claims of the city shall be paid within 35 days from the date of receipt, or as otherwise stipulated by the terms of a contract. Claims not paid within this time frame may be subject to penalty and interest charges assessed by the vendor, as provided for in M.S. 471.425, subd. 4. o. Disallowed claims shall be so marked and kept in a file for an appropriate time period. II. Payroll Procedures 1. Segregation of Duties Payroll checks should be written in keeping with the procedures for all other cash disbursements as noted above. Additional requirements related to the payroll function to be performed by persons who are not payroll check signers are as follows: a. The Account Clerk shall hold unclaimed paychecks. b. The Finance Director shall review the payroll register and the Account Clerk will post payroll to the general ledger. c. The Finance Director will review payroll- related tax withholding, deposits and reporting and prepare reports of same for the council. d. The Account Clerk shall prepare year -end W -2's to employees and respond to inquiries regarding the same. e. The Administrator shall review time sheets for compliance with policies and that they have been signed by the employee and approved by the employee's supervisor. The Administrator shall periodically verify that rates of pay for each employee is correct 3