Finding Text
Criteria –As per GASB Statement No. 84, Fiduciary Activities, the County is required to maintain a
complete and accurate schedule of Fiduciary Funds (agency and trust funds) from the various elected
officials.
Condition – Each elected official is currently monitoring trust and agency accounts and not sending this
information to the auditor to record in the centralized accounting system. The County was unable to
provide a summarized schedule of Fiduciary Funds at year end. In addition, there were two Special
Revenue Accounts that were not included in the financial accounting software and current year activity
was not recorded.
Effect – Misappropriation of assets could occur as well as inaccurate information provided in the
financial statements.
Cause – The elected officials are not providing timely information to the County Auditor’s office and the
County Auditor’s office is not following up on the missing information. Additionally, the information is
not recorded in the centralized accounting system.
Recommendation – Information from the various elected officials bank accounts for such things as
commissary funds, trust accounts, hot check funds, etc. should be provided to the County Auditor’s
office on a monthly basis. Activity for these funds should be included in the accounting software. A
complete and accurate schedule of Agency Funds and Special Revenue Funds should be maintained. In
addition, all special revenue activity should be recorded in the accounting software system. Although,
improvement has been made, improvement is still necessary.