Cape Girardeau County, Missouri Transit Authority

Federal Program: Federal Transit Cluster. Criteria: Separating the ability to write checks, sign checks, and full access to the accounting software decreases the risk of loss or misuse of the Authority's funds and increases the likelihood that misstatements would be prevented or detected and corrected on a timely basis. Condition: The Authority has an employee that has full access to the accounting software, can write checks, and is an authorized signor. Cause: The Authority has incurred turnover in management functions and limited number of employees were available to separate these duties. Effect: An incomplete separation of duties increases the risk of loss or misuse of the Authority's monies and increases the liklihood that misstatements would not be prevented or detected and corrected on a timely basis. Questioned Costs: None. Context: The finding is inr egards to the disbursement cycle. Cash disbursements for the fiscal year totaled $4,470,279. Repeat Finding: No. Recommendation: The Authority should separate an employee's ability to write checks, sign checks, and having full access to the accounting software. Views of Responsible Officials: The Authority agrees that separation of duties, within ability, is essential to robust fiscal internal controls. During the fiscal year the Authority experienced a turnover in administrative staff which resulted in a limited number of staff for a period to distribute duties, and there were limitations on the security functions o f the accounting software. . The Authority did maintain a separate individual, without signature authority, to perform bank reconciliations during this period. The Authority has updated the accounting software and reorganized the organization chart which will allow for enhanced controls.

GSA_MIGRATION