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Lastly, we would like to acknowledge the improvements MTA has made in developing and <br /> implementing the cash handling process. <br /> Did MTA's Policies and Procedures Improve since the 2018 Audit? <br /> Were Policies and Was the actual <br /> Expected Procedure Procedures Complete? Practice <br /> p Performed? <br /> 2018 2022 2018 2022 <br /> 1. Independent Review and Monitoring Inadequate Inadequate No Partially <br /> 2. Segregation of Duties Inadequate Yes No Partially <br /> 3. Physical Security Procedures Inadequate Yes No Yes <br /> 4. Timely Deposit of Receipts No Yes No Yes <br /> 5. Checks Endorsed Immediately No Yes No Yes <br /> 6. Timely Reconciliation of Cash Receipts to No No No Yes <br /> Applicable Ledgers <br /> 7. Receipts are Consecutive and Pre- No Yes No Yes <br /> numbered (including voids) <br /> 8. Taxi Coupons, Bus Tickets, are No Yes No Yes <br /> Consecutive and Pre-numbered <br /> 9. Account for Cash as it is Received (Timely No Yes No Yes <br /> Recognition of Revenue) <br /> 10. Reconciliation of Total Checks, and Cash No No Yes <br /> Over/shorts <br /> 11. Fraud Reporting Yes <br /> Source: Data compiled by the Office of the County Auditor <br /> Executive Summary 1 5 <br />