INTERNAL COMPLIANCE. Maintaining Financial Control. User Guide for Cobb County Employees 7/1/2016. Created for: The Cobb County School District

Transcription

1 Maintaining Financial Control User Guide for Cobb County Employees 7/1/2016 Created for: The Cobb County School District 514 Glover Street Marietta, Ga (770) Created by: CCSD Financial Services Auditing & Assurance 440 Glover Street Marietta, GA 30060

2 Revision Chart The following chart lists the revisions made to this document. Use this to describe the changes or additions made to the document each time it is re-published (draft or final). The description should summarize the changes as possible. Date Author Description of Changes 4/16/2013 Kim Coonfield Initial Document 5/9/2013 Debbie Randazzo Changed Department Name from Internal Audit/Local School Accounting to Internal Compliance; Removed Page Numbers Referenced in Sources of Information 6/24/2013 Debbie Randazzo Changed Contact Information 7/12/2013 Debbie Randazzo Updated Table of Contents and Department Name in all Sections of Document; Clarified Control Procedures and Scope of Audit; Updated Contact Information 10/15/2013 Suzanne Hatfield Update for Manager contact information 2/12/2014 Debbie Randazzo Updated Page Titled, Internal Compliance 7/17/2014 Suzanne Hatfield Updated for Change to Use of Discretionary Funds 7/14/2015 Suzanne Hatfield Updated for Changes to Various Manuals, Contact Information and Restructuring of Internal Compliance Department 7/27/2016 Suzanne Hatfield Updated for Changes to Various Manuals, Contact Information and Restructuring of Internal Compliance Department Maintaining Financial Control Page 2 of 7

3 Table of Contents... 1 Revision Chart... 2 Internal Compliance... 4 Tips for Maintaining Good Financial Controls... 4 Deposits... 4 Purchasing... 4 Internal Controls... 5 Contracts... 5 Travel... 6 Use of Local School Activity Accounts... 6 Other... 6 Contact Information... 7 Maintaining Financial Control Page 3 of 7

4 Internal Compliance The Internal Compliance Department is an independent auditing and assessment function established within the Cobb County School District (District) to document financial integrity and to promote efficiency, effectiveness and economy in District operations. The Department verifies compliance with laws and regulations, Board Policies, District Administrative Rules and written departmental procedures. It includes managing the outsourced local school audits, reviewing results and outcomes, and overseeing the Local School Accounting, Financial Analysis and Training, Auditing and Assurance as well as Property Control functions of the District. The Department also evaluates internal controls, and recommends improvements to District Administration to enhance the District s financial performance, reduce the risk of fraud and other corrupt/illegal conduct and increase accountability to the public. Tips for Maintaining Good Financial Controls Deposits Deposit all money daily into bottom compartment of school safe. Store any money held overnight in school safe. Deposit all money collected in school s name into school s bank account. Ensure personnel is available to open school safe for armored car driver. Report missed armored car pickups to Financial Services. Verify daily deposits picked up by armored car service have been credited to school s bank account. After School Deposits (ASP) deposits must be made daily. Sources: Local School Accounting Standard Operating Procedures; After School Program Standard Operating Procedures Purchasing Complete, in its entirety, the Purchase Requisition/Local School Check Request, FS- 381 for each purchase, including procurement card purchases, purchase orders and performance contract payments. Document pre-approval for ALL purchases. Obtain bids/quotes when required by Purchasing Regulations. Maintain sufficient documentation, including receipts, invoices, names of meal attendees or gift recipients, packing lists, if available, documentation related to bids or quotes for all purchases. Maintaining Financial Control Page 4 of 7

5 Pay all bills timely. Sales tax is not paid to vendors for all instructional purchases; however, food items consumed off campus may be subjected to sales tax. Sources: Local School Accounting Standard Operating Procedures; Purchasing Regulations Internal Controls Update and submit the School Safe Authorization & Confidentiality Agreement, FS- 339 annually at the beginning of the school year and any time changes are made to safe access. Ensure financial records are organized and correctly filed. Ensure Lunchroom Manager properly secures change fund and lunchroom receipts in school s safe. Verify daily disbursements posted in Local School Accounting software have been debited to the bank account. Ensure control documents, including but not limited to, Master Receipts, Student Receipt Books, Classroom Remittance Report Books and Local School Purchase Orders, as well as checks inventory and procurement cards are stored in secured locations. Request District reimbursements on a timely basis. Sources: Local School Accounting Standard Operating Procedures; Food & Nutrition Services, Manager Manual Contracts Complete Performance Contract, FS-213 for non-employees paid services with local or county funds. Ensure either the Contractor Affidavit, FS-214 or Subcontractor Affidavit, FS-215, as well as the Affidavit of Number of Employees, FS-216 are completed, as applicable, in their entirety, signed and notarized to ensure compliance with Official Code of Georgia The Principal must sign all contracts obligating school funds. Sources: Local School Accounting Standard Operating Procedures; CCSD Board Administrative Rule JHA-R, Student Activities Fundraising Maintaining Financial Control Page 5 of 7

6 Travel Obtain approval before traveling using the Authorization for Out of Town or Overnight Travel, FS-125. Report all travel expenses after the trip using the Employee Expense Statement for Travel, FS-100 and attach required receipts. Only reimburse allowable travel expenses. Travelers should submit reimbursable expenditures within 30 calendar days of trip completion or event. Reimbursable expenses submitted more than 60 calendar days after completion of trip or event will be included as taxable income. Sources: Travel Regulations and Procedures; Internal Revenue Code Use of Local School Activity Accounts Post transfers, receipts and disbursements in accordance with Chart of Accounts. Ensure Class and Clubs Request for Transfer, FS-116 is completed for all transfers from class and club accounts. All donations must be used as specified by donor. Unspecified donations should be used for instructional program, student recognition, or other school needs (excluding hospitality). Sources: Local School Accounting Standard Operating Procedures; Chart of Accounts Other The After School Program should operate as a prepaid program with a positive fund balance. Principal must complete ASP Funds Usage Request Form, FS-426 for approval of non-operational expenditures using ASP funds. High Schools should maintain Booster Organization documentation in compliance with Board Administrative Rule LEC-R. Monthly and annual closing forms should be completed, approved by Principal and submitted timely to Local School Accounting. o After School Program Month End Requirements, FS-423 o School Month End Requirements (Elem and Middle Schools), FS-172a o School Month End Requirements (High Schools), FS-172b o Closing Information Update, FS-224 Maintaining Financial Control Page 6 of 7

7 Sources: Local School Accounting Standard Operating Procedures; After School Program Standard Operating Procedures; Board Administrative Rule LEC-R Booster Organizations Contact Information Deborah Randazzo, Director Suzanne L. Hatfield, Manager Rochelle Gross, Accountant Kyle Matthews, Customer Service Specialist Laura Hough, Technician Maintaining Financial Control Page 7 of 7