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<br />Findin~ <br /> <br />2005-1 <br /> <br />2005-2 <br /> <br />CITY OF CENTERVILLE, MINNESOTA <br />SCHEDULE OF. FINDINGS <br />DECEMBER 31,2005 <br /> <br />Descrlption <br /> <br />Segregation of Duties <br /> <br />Our study and evaluation disclosed that because of the limited size of your office staff, the City bas limited <br />segregation of duties. A good internal control structure contemplates and adequate segregation of duties so that <br />no one individual handles transactions from inception to completion. While we recognize that the City is not <br />large enough to permit an adequate segregation of duties in all respects, it is important that you be aware of this <br />reportable condition. <br /> <br />Mll1Iagement Response <br /> <br />Management bas implemented specific internal control policies to address segregation of duties issues. The City <br />Council approved a resolution in 2005 that addressed some llJ'eas of1imi1ation. The City will continue to review <br />its systems annually to try to improve internal control. <br /> <br />Broker Certifications <br /> <br />Minnesota statute I 18.A04 subdivision 9, requires the City to obtain broker certification from investment <br />brokers annually. The 2005 broker certifications were not completed. <br /> <br />Management Response <br /> <br />This was an oversight, and will be monitored more closely in the future. <br /> <br />-57- <br />