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Implement Monitoring and Oversight <br /> Condition and Cause <br /> Independent monitoring was insufficient, it is important the cash handling process to be <br /> independently reviewed and monitored regularly, when duties are not adequately segregated. <br /> Effect of the Condition <br /> MTA is not able to detect irregularities in their normal course of business. <br /> Recommendation 5.1 <br /> We recommend Mass Transit management perform ongoing monitoring of their internal control <br /> system as part of the normal course of operations. Ongoing monitoring includes regular <br /> management and supervisory activities, daily reconciliation of cash receipts, and other routine <br /> actions. <br /> Agency Action <br /> MTA developed and implemented monitoring and oversight over fiscal procedures. <br /> Audit Activity <br /> To verify status, we observed the following: <br /> • Ongoing monitoring by regular management and supervisory activities related to reconciliation <br /> of cash receipts are not occurring regularly <br /> • We noted that until an Administrative Services Assistant or equivalent is hired, supervisory <br /> activities (i.e. daily/weekly/monthly) related to cash handling will not be appropriately <br /> reconciled <br /> Since reconciliation of the cash handling process is not being performed by MTA management <br /> regularly ((i.e. daily/weekly/monthly) we determined that the status for this recommendation is <br /> not implemented. <br /> Status: Not Implemented <br /> Implement Monitoring and Oversight 1 17 <br />