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Condition and Cause <br />MTA did not deposit cash within two business days as required by County procedure. <br /> <br />Effect of the Condition <br />Depositing cash within two business days is not addressed in MTA cash handling policies and <br />procedures which increases their risk exposure. <br /> <br />Recommendation 3.2 <br />"We further recommend Mass Transit management ensure deposits are made timely, both for <br />contracted bus services and cash received by Mass Transit. Ideally, deposits should be made <br />within 24 hours, but at least within two business days." <br /> <br />Agency Action <br /> • Implemented dual control over cash counting and over reconciliation processes <br /> • Used a courier service to ensure cash was picked up daily or within two business days <br /> <br />Audit Activity <br />To verify status, we compared 18 bank deposit slips to Treasury receipts and found no exceptions. <br />MTA made all deposits within two business days as required by County procedure. We also <br />reviewed updated cash handling policies and procedure and found two-day deposits were <br />addressed. MTA staff followed and enforced two-day deposits. <br /> <br />Status: Implemented <br /> <br /> <br />12 Safeguard Assets <br />