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• Several boxes were filled with various unreconciled trip sheets for August, <br />September, and October 2017. We could not determine if this money had been <br />deposited. <br />Based on these results, and the internal controls noted below, we could not determine if all the <br />cash paid by the bus riders was included in our cash count. We were unable to determine if <br />money had been lost or misappropriated. <br />After our surprise cash count, with the assistance of the Department of Finance, the cash was <br />deposited. During our subsequent follow up, only one to two days of cash was stored in the <br />safe. <br />We noted certain issues that we communicated directly to Mass Transit's management. We <br />appreciate their commitment to resolving these matters. <br />Cash was not physically secured <br />Safeguarding of assets is an integral component of internal controls to provide effective <br />stewardship of public resources. When safeguarding of assets and physical controls are <br />designed and implemented appropriately, departments and agencies are more likely to identify <br />and correct systematic problems on a timely basis. The United States Government <br />Accountability Office (GAO), Standards for Internal Control in the Federal Government ("Green <br />Book") states that management should design an internal <br />control structure to include physical controls to secure and <br />safeguard vulnerable assets such as cash. In addition, the <br />Government Finance Officers Association (GFOA) establishes <br />best practices for general revenue controls. These best <br />practices include physical security procedures, especially for <br />funds that are not deposited the same day they are receipted. <br />We identified several safeguarding of assets weaknesses at <br />both the Mass Transit Administrative Office and the Baseyard: <br />Mass Transit Administrative Office: <br />Manual receipts are printed and pre -numbered in- <br />house using a Word document. This increases the <br />risk that receipts could be duplicated and cash <br />misappropriated. In addition, we observed these <br />receipts were sitting on the front counter and easily <br />accessible to the public. Receipts should be pre - <br />numbered, pre-printed, and secured. <br />• Bus tickets and taxi coupons are left in an opened <br />box behind the counter. Bus tickets are <br />Mass Transit Cash Handling Audit Results 19 <br />