Finding Text
FINDING 2022-003 Water and Wastewater Revenue Balancing Procedures Condition: Revenue from the water/wastewater bills were not reconciled on a monthly basis. Criteria: GAAP requires proper internal control and reconciliation procedures be implemented over revenue to insure revenue is recognized timely and accurately. Cause: Procedures were established in prior years, however, they were not being implemented or reviewed, possibly due to a change in accounting personnel. Effect: Without appropriate internal control, reconciliation, and review procedures, misstatement of revenue could go undetected. Repeat Finding: No Recommendation: Implement and review the reconciliation procedures that were established in prior years. Views of Responsible Officials: Shelley McLain is going to train the new personnel on the reconciliation and review procedures that have been implemented.