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3.4 We further recommend Mass Transit management change lock or safe <br />combinations once an employee who had access leaves the organization or is <br />reassigned to another position. <br />3.5 We further recommend Mass Transit management implement a cash receipt <br />log for all incoming revenue including bus fares from contracted bus service <br />providers. <br />3.6 We further recommend Mass Transit management assess the security camera <br />locations, regularly monitor, and limit access to the screen and recordings. <br />3.7 We further recommend Mass Transit staff empty fare boxes frequently to <br />ensure the automatic locking mechanism works. <br />4. Segregate incompatible duties <br />4.1 We recommend that Mass Transit management separate incompatible duties. <br />One individual should not be in charge of all of the cash handling elements: <br />physical custody of cash, depositing cash, recording/adjusting transactions in the <br />system, and reconciling the revenue accounts. If duties cannot be sufficiently <br />segregated, mitigating controls, such as independent monitoring could be <br />implemented. <br />5. Implement monitoring and oversight <br />5.1 We recommend Mass Transit management perform ongoing monitoring of their <br />internal control system as part of the normal course of operations. Ongoing <br />monitoring includes regular management and supervisory activities, daily <br />reconciliation of cash receipts, and other routine actions. <br />5.2 We further recommend Mass Transit management specifically implement <br />ongoing monitoring procedures of the cash handling process including both <br />comparisons and reconciliations. For example, someone independent of the <br />cash handling process should review and/or reconcile: <br />• The consecutiveness and completeness of manual cash receipts, <br />paratransit coupons, taxi coupons, bus passes, and bus tickets (once pre - <br />numbered) <br />• Voided cash receipts <br />• Revenue receipted and deposited to the general ledger <br />• Outstanding accounts receivable balances from tickets, coupons and <br />passes purchased with a purchase order <br />• Bus trip sheets (ridership) to cash collected and deposited <br />• Recorded over/shorts for patterns or irregularities <br />• Recorded cash to check composition for irregularities <br />Mass Transit Cash Handling Audit Recommendations 125 <br />