Answer: Management agrees with the recommendation.
Trend: Procedures are now in place to include June accounts payable transactions in year-end reimbursement requests.
List: Follow up to ensure compliance with the new procedures during the next fiscal year-end.
Finding Text
Management Response: We agree with the recommendation and procedures have been implemented whereas fiscal year-end requests for reimbursements will include June accounts payable transactions.
Corrective Action Plan
Staff will compare all bank account reconcilations against the total compostion of all cash accounts maintained within the general ledger's individual funds.