Title
Review of General Government Cash Receipts for Fiscal Year 2007 (B)
Explanation
In accordance with our Annual Audit Plan, we have completed a Review of General Government Cash Receipts for Fiscal Year 2007. Our review was conducted in accordance with Government Auditing Standards issued by the Comptroller General of the United States and focused on cash handling controls, policies and procedures for selected cash collection areas in General Government. Our procedures were designed to provide reasonable assurance to the City Commission and management that cash receipts reviewed were adequately safeguarded and accurately processed in a timely manner.
For fiscal year 2007, we reviewed selected revenues generated at the Downtown Plaza Ice Skating Rink, the 21st Annual Hoggetowne Medieval Faire and Ironwood Golf Course. Total revenues generated at these locations during fiscal year 2007 were approximately $105,000, $271,000 and $1,200,000, respectively. Our procedures included conducting spot checks of cash collections, counting cash on hand, reconciling amounts counted to cash register tapes or other documentation recording actual transactions, and verifying that revenues were properly deposited and recorded. We also interviewed staff, observed operations, reviewed policies and procedures and sampled cash receipts to assess compliance with policies and procedures.
Recommendation
The Audit, Finance and Legislative Committee recommend that the City Commission accept the City Auditor's report.