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Condition and Cause <br /> MTA does not endorse checks until the end of the day. <br /> Effect of the Condition <br /> Policies and procedures that do not require check endorsements immediately upon receipt <br /> increases the risk of fraud. <br /> Recommendation 3.3 <br /> "We further recommend Mass Transit staff restrictively endorse checks immediately upon receipt." <br /> Agency Action <br /> In September and October 2021, MTA developed Mail and Walk-In Sales Procedures to verify: <br /> • Pay to: Director of Finance <br /> • Dollar amount is filled out and written correctly (must match) <br /> • Check is signed <br /> • Once verified, endorse the check by stamping the bank information on the back <br /> Audit Activity <br /> To verify status we verified the following: <br /> • Added procedures for endorsing checks upon receipt <br /> • Observed checks were being endorsed at the time of receipt during site visits <br /> Status: Implemented <br /> Safeguard Assets 1 13 <br />