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Implement Monitoring and Oversight <br /> <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 /> <br />Effect of the Condition <br />MTA is not able to detect irregularities in their normal course of business. <br /> <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 /> <br />Agency Action <br />MTA developed and implemented monitoring and oversight over fiscal procedures. <br /> <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 /> <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 /> <br />Status: Not Implemented <br /> <br /> <br />Implement Monitoring and Oversight 17 <br />