Ordinances 2016 - Laserfiche WebLink

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• A reconcilement between the disbursement ledger and the debits to the bank account is completed periodically by an individual separate of the disbursement process. • The monthly reconcilement between the cash balance and the bank balance is thoroughly reviewed and approved by the governing body. • Disbursements from and reimbursements to petty cash funds are periodically reviewed by an individual other than the one responsible for maintaining the petty cash fund. Credit Cards Transactions • A designated official or employee oversees the issuance and use of the credit cards. • An ordinance or resolution specifically states the purposes for which the credit card may be used. • A designated person separate from disbursement process reviews transactions listed on the credit card statements for sufficient documentation and inclusion in claim to the Board. Principle 11: Management designs the political subdivision's information system and related control activities to achieve objectives and respond to risks. The Clerk -Treasurer, Town Council and Department Heads will work with the Information Technology Department to ensure that information technology is used as an integral part of the internal control system. This may include, but not be limited to: • Setting permission such that only certain users may perform certain tasks. • Using technology to accomplish segregation of duties by forcing duties to be completed by different users. • Automating certain processes and calculations. • Limiting the authority to access different components of various software to employees with duties specifically related to that component. • Prohibiting user ID and password sharing among employees. • Restricting the authority to correct or make adjustments to records to key employees. • Requiring the use of prescribed forms or the approval of alternative forms.