2022-001: Segregation of Duties Views of Responsible Officials and Planned Corrective Actions: Management concurs with the finding. The Organization?s Executive Office Staff are responsible for the financial transactions and communicate frequently and dependably about transactions, receipts, and ...
2022-001: Segregation of Duties Views of Responsible Officials and Planned Corrective Actions: Management concurs with the finding. The Organization?s Executive Office Staff are responsible for the financial transactions and communicate frequently and dependably about transactions, receipts, and accounting issues. In this way, a segregation of duties is maximized given the small staff and limited ability of the Organization to expand staff. The Organization has two Office Assistant Managers. The first is the assistant to the CFO. This assistant is responsible for weekly payroll, reviewing client file completions after the first assistant reviews them, assisting with expense reports, and assisting in quarterly and yearly reports. She has Board of Directors approval to sign checks and approve bills on an as-needed basis in the event that other authorized signors are unavailable. This ensures that all checks and payments have dual signatures, as required. In the absence of the CFO or CEO, the checks and bills approved by the assistant are subsequently reviewed. She also is the supervisor of the second Office Assistant Manager. The second assistant is responsible for entering receipts/bills on a daily basis, printing, and balancing accounts payable and checks, and provides the first review of client file completions. This assistant has no check-signing or bill approval authority. She also has no access to payroll, journal entries, or bank information. The CEO also believes that distributing monthly financial reports to Wyoming Weatherization Services? Board of Directors creates transparency that compensates for this deficiency in segregation of duties. Anticipated Completion Date - Ongoing, see corrective action plan above. Contact Person - Janelle Anderson, Chief Financial Officer