COM 0623.000 1996-1998 - Laserfiche WebLink

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prepare the budget versus actual comparison reports. If this system fails, the annual audit may not be able to be completed which would affect the County's bond rating. Purchase Orders The system could shut down and the County's employees would have to manually prepare all purchase orders and determine funds to be encumbered. Budget The system could shut down and the County's annual budget would have to be prepared manually. Recommendation: The Mayor or Director of Finance should take immediate steps to ensure that all necessary year 2000 modifications are completed by 1999. Such steps should include setting benchmazks and developing a comprehensive plan that specifically addresses all yeaz 2000 issues for Wang applications and other department applications. For some applications, only 13 months may remain to address and resolve issues because some applications may project year 2000 due dates beginning in 1999. The County Council should require quarterly reports from the Data Processing Manager regarding the status of the implementation. B. INTERNAL AUDIT FUNCTION Observation: The County should consider the benefits of an internal audit function. Background: An internal audit function is generally used throughout an organization to determine that departments have adequately implemented internal controls and have complied with the County's operational and fiscal requirements, as well as those imposed by outside agencies. Examples of internal audit projects would include: audits of the cash functions of satellite finance department offices, and of the golf course, solid waste, cemetery and other special revenue funds. In addition to internal control compliance reviews, an internal auditor could perform special financial projects, such as: • Helping to monitor and follow-up on single audit requirements, such as the Corrective Ac[ion Plan. • Helping to monitor compliance of non-profit recipients of County grants. • Helping to resolve the receivables delinquency issues at the Wastewater and Solid Waste Divisions • Helping to resolve the issue of late filings for grant reimbursements • Helping the Director of Finance investigate potential revenue enhancement projects An internal audit function would show that the County is concerned that policies and procedures are being applied appropriately. -4-