COM 0942.000 2020-2022 - Laserfiche WebLink

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Condition and Cause There were numerous gaps in taxi coupon consecutive numbering; MTA did not issue written receipts or issued receipts in duplicate/triplicate. Effect of the Condition MTA was unable to determine if all transactions were receipted and revenue was complete. Recommendation 5.2 We further recommend Mass Transit management specifically implement ongoing monitoring procedures of the cash handling process including both comparisons and reconciliations. For example, someone independent of the cash handling process should review and/or reconcile: • The consecutiveness and completeness of manual cash receipts, paratransit coupons, taxi coupons, bus passes, and bus tickets (once pre-numbered) • Voided cash receipts • Revenue receipted and deposited to the general ledger • Outstanding accounts receivable balances from tickets, coupons and passes purchased with a purchase order • Bus trip sheets (ridership) to cash collected and deposited • Recorded over/shorts for patterns or irregularities • Recorded cash to check composition for irregularities • Taxi reimbursements receipts and deposits Agency Action MTA developed and implemented monitoring and oversight over fiscal procedures. Audit Activity To verify status, we reviewed the following processes: • During review of the MTA cash handling reconciliation process, we noted that reconciliation was being performed by the MTA Administrator and partially by the Account Clerks who are a part of the cash handling process. Since account clerks are processing cash, they are not considered independent reviewers • Identified job responsibilities required to perform the work for this recommendation • Verified the consecutiveness and completeness of manual cash receipts, and taxi coupons • Verified cash receipts are being appropriately voided • Verified that a person independent of the cash handling process was ensuring revenue deposits are being correctly reflected in the general ledger • There were no outstanding accounts receivable balances from coupons or taxi licenses purchased through a purchase order • Bus trip sheets (ridership) are collected and tracked • Recorded over/shorts for patterns or irregularities did not occur in the period reviewed • Recorded cash to check composition for irregularities did not occur in the period reviewed • Completeness of bus trip sheets to ensure all trip sheets were tracked and reconciled however differences were noted in ridership amounts between vendor's monthly trip sheet report and MTA's 2022 Monthly summary report • Taxi coupons reimbursements were being tracked when they were exchanged prior to the expiration date shown on the ticket While most items are being appropriately performed, we identified issues during cash handling and trip sheets reconciliation processes. To meet this recommendation, MTA will implement independent cash handling reconciliation processes and trip sheet reconciliation. Status: Partially Implemented 18 1 Implement Monitoring and Oversight