Finding Text
Residual Receipts Condition: Surplus cash in the amount of $77,939 was not deposited into the residual receipts account within 60 days after the end of the fiscal year. Criteria: Surplus cash should be deposited into the residual receipts account within 60 days after the end of the fiscal year. Effect: The residual receipts account was not funded within the 60 days requirement. Context: Surplus cash computation was examined to determine whether surplus cash has been deposited into the residual receipts account within 60 days after the end of the fiscal year. The detail and results of the sample are as follows: Context: Population Size Number: 1 Dollar Amount: $77,939. Sample Number: 1 Dollar Amount: $77,939. Items Not in Compliance Number: 1 Dollar Amount: $77,939. Questioned Costs N/A. Cause: Oversight by management. Recommendation: I recommend that surplus cash be deposited into the residual receipts account, within 60 days after the end of the fiscal year. Views of Responsible Officials and Planned Corrective Actions: Payment in process.