Finding Text
Condition: During our testing of the general ledger, we noted the general fund checking account was not reconciled to the balance sheet on a monthly basis.
Criteria: Internal controls should be in place that provide reasonable assurance general fund checking account is reconciled to the balance sheet on a monthly basis.
Cause: The District does not agree the cash reconciliation with the balance sheet.
Effect: District financial statements could be misstated according to accounting principles generally accepted in the United States of America.
Recommendation: Procedures should be implemented requiring monthly reconciliations of general fund cash reconciliation to the balance sheet.
Views of Responsible Officials and Planned Corrective Actions: School District Borough of Brentwood agrees with the finding and the recommended procedures have been implemented