citywide cash handling - october 2022
Citywide Cash Handling
Released October 2022
Download the audit report here
Download the report highlights here
We undertook this audit to review the cash handling practices within city departments. Handling cash, including checks and money orders, poses inherent risks. This audit will assess controls in place to collect and record payments and safeguard assets.
- The Department of Finance does not maintain a list of cash collection points in the city and does not monitor whether departments have controls in place to safeguard collections from theft or fraud.
- Twenty one of the 44 business units collecting cash did not have written cash handling procedures.
- Some city employees transport payments to the bank without having appropriate protocols to ensure the safety of those employees.
- Three business units improperly recorded revenue collections in expense accounts rather than revenue accounts.