Auxiliar xiliary Operations y Operations Auxiliar Auxiliary Operations Operations The Series: The Series: District Level District Le l Over Ov ersight sight 1. 1. The Bas The Basics cs - - Augus ugust t 20 2012 2. Extrac 2. Extracurricular urricular Activities F ctivities Fees ees Tax x Credits - Credits - October 20 Oct ber 2012 Presented Presen ed By: By: 3. 3. District-le District-level Over el Oversight - sight - Toda oday Cris Cab Cris Cable, Elizab e, Elizabeth Whit eth Whitak aker er, , and and Gret Gretch chen en Gilliam Gilliam Ap April 9, ril 9, 20 2013 Why f Wh y focus on cus on Revie view T w Tool ool Auxiliary Operations? Auxiliar Operations? Designed for Business Managers Increased risk of loss or Increased risk of loss or • Provides an overview misuse due t misuse due to: • Microsoft Word document • Dec Decentrali lized oper zed operation ations Use in parts or all at once • Cash vs. c Cash vs. chec ecks ks Modify sample sizes • Bank accounts Bank accounts Customize to fit your needs • Use anytime or at year-end • Document review by campus • 1
p.2 p.2 Comparisons Comparisons Comparisons Comparisons Prio ior Per erio iod Current ent Per erio iod Are C Are Chan anges ______ ___________ ________ ______ ___________ ________ Re Reason onable? (m (mon onth, ye year) (month, , year ar) $ C Chang ange % C % Chang ange (Ye (Yes/No) Books ookstore Re Reve venues • Assess c Assess changes in anges in data data Sales Sal Fees Fees Donati Do nations ( (tax ax cred edit) fr from period om period to period o period Athlet Ath etic ic P Program R m Revenu nues es Gate ( (tic icket s sales les) Con Concession s sales Fees Fees Bo Bookstor ore Expens e Expenses es Non Nonpayroll Pa Payroll • Small v Small variance riances s are t are to Athlet Ath etic Pro Program Expen m Expense ses Non Nonpayroll -Con Concession ons be expect be e pected -O -Other ther Pa Payroll Inv nvent entor ory o y on n Hand Hand (fisc iscal y l year ear end) end) Book ookstore (F (FY E Y End) Conces essi sions ( s (FY End) Other a r area: _________ ________ __ p.2 p.2 Comparisons Comparisons Comparisons Comparisons Parking Permit Fees ($10 per parking permit) Detect Change, NOT Accuracy of Account Balances Are Chang Ar Changes s Curre urrent nt Ar Are Chang Changes s % % Reas asonab able? Prior P Pri r Peri riod od Pe Period od % % Reas asonab able? Aug ‐ Sept Aug ‐ Sept 2011 2012 Change Chang Change Chang (Y (Yes es/No) FY 20 FY 2011 11 FY 20 FY 2012 $ Change $ Chang Chang Change (Yes (Y es/No) Bookstor Books ore R Revenues Books Bookstor ore R Revenues No Parkin ing S Sales les $1,210 $40 ($1,170) (97%) No Sal Sales $156,000 $143,500 ($12,500) (8%) Yes Books Bookstor ore Expen Expenses # o of permits s is issued sued 121 130 9 7% Yes $100,000 $110,000 $10,000 10% Yes No Nonpayroll No Cha Change for Sa for Sales les = NO NOT Re Reas asona onable le Bala Ba lanc nce = Fr Fraud 2
p.3 p.4 Reve Revenues Tic Ticket/ R / Receipt Sales eceipt Sales List the A List the Auxil xiliary Operat Operatio ions ns activ activiti ties es based on based on the method the method used t used to Activity Description dance ticket and yearbook sales do docume cument s sales ales: Fo For T Ticket Sales Only Only Name Na me o of Issuing tic Issu ing ticket ets s (e.g., sport event admission, dance admission, etc.) Tic Ticket Sales Sal Sel Seller/ Ne Next T Tick cket / / Beginning T nning Ticket Total # of 1. 2. Report Re Re Report Re Receipt ipt Re Receipt # ipt # / Receipt # / R # Tickets Ticket To Total # Date Dat Issu ssuer to to b be Issued Issu ssued Sold Price Sales Sal Issu Issuing re ing rece ceipts ipts without u without using a ing a ca cash re sh regist gister (e.g., fees collected in 5 2/12/13 John M 4029 3876 153 $3 $459 12 2/20/13 the school office or library, yearbook sales, etc.) Donna B 1320 1210 n/a n/a $2,200 • Total sales 1. Sales Report #4 (previous report) 2. • Review & signature Varsity Football Game Next Ticket # to be Issued: 3500 • Overages & shortages resolved Using a Using a ca cash re sh regist gister er to o issu issue re e rece ceipt ipts (e.g., bookstore sales, • Ticket numbers concessions, etc.) Difference • Receipt book = 376 1. 2. p.5 p.6 Cash R Cash Regist egister Sales er Sales Deposits Deposits Select 5 events/dates from the district’s calendar of scheduled events/ Select 5 days and document the following information based on review of the business days and document the following information based on a review of applicable days’ Daily Cash Collection Summaries. the applicable Daily Sales Reports. Deposit is 2 Daily Daily Cash Cash Col Collection n Summar Summary Vali alida dated Depos Deposit R Receip ceipt weeks after Activity Description concession sales Report # Date Total Cash Collected Deposit Date Deposit Amount received Re Regist ster 574 2/18/13 $828.25 3/4/13 $828.25 Da Daily Sa ily Sales les Rep Report To Total Ta Tape Daily Cash Daily Cash Col Collection n Summar Summary R Repor port #574 Sales Report # Date Account Code Description Total Cash Report # Date Cashier Total Sales Tape # Total Sales 1094 2/18/13 1750 JV Football Concession Sales $278.25 57 3/15/13 David $250.00 Z-0651 $298.00 1096 2/18/13 1790 Tax Credit $550.00 = $828.25 65 3/27/13 David $175.00 Z-0660 $175.00 • Review total cash collected Where is sales • Audit tape • Deposited within 7 days report # 1095? • Mathematical accuracy Snow cone sales 3/26/13 = Z-0658 Difference • Accounting records $150 • Total sales = $48 Z-0659 = missing Never deposited! • Over rings/cancelled sales • Daily Cash Collections Summary Report 3
p.7 p.8 Expenditures Expenditures Separation of Responsibilities Separation of sponsibilities Select 5 payments from the District’s auxiliary operations bank Recordke Re keeping Au Authorizat orization ion Cash-handling Cas account check register and document the following information based on review of the check register. Receiving Cash and Recording Transactions in Approving Documentation Preparing Checks the Accounting Records and Signing Checks Check eck # # Dat ate Amoun mount Payee Desc ee Description 3568 1/23/13 $254.28 Staples 3580 2/11/13 $48.57 Jane Smith • Supporting documentation • Purchase order • Check register • 2 authorized signatures • Approved vender • Proper procurement p.8 p.8 Separation of Responsibilities Separation of sponsibilities Separation of Separation of Responsibilities sponsibilities Rev Revenue Assigned Actual Assigned Employee Actual Employee Revenue Reve e Responsibility Employee Employee Sam Sam Issues change fund and verifies change fund upon return Issues change fund and verifies change fund upon return Issues receipt book or tickets, logs numbers, and verifies upon return Sam Sam Same Color= Issues receipt book or tickets, log numbers, and verifies upon return Collects cash and issues receipt/ticket Compatible Counts cash and prepares Daily Sales Report ‐ Cash Collected portion Debbie Debbie Collects cash and issues receipt/ ticket Recounts cash, determines total sales, and completes Daily Sales Report Safeguards cash until deposited Counts cash and prepares Daily Sales Report ‐ Cash Collected portion Debbie Sam Prepares Daily Cash Collection Summary Report Prepares and makes deposit daily if significant or at least weekly Recounts cash, determines total sales, and completes Daily Sales Compares Sales Reports to Daily Cash Collection Summaries and total Sam Sam Report cash collected to the validated deposit documentation Records revenue in the accounting records Sam Sam Safeguards cash until deposited Exp Expendit nditur ure e Assigned Actual Sam Sam Prepares Daily Cash Collection Summary Report Responsibility Employee Employee Different Prepares Purchase Requisition Sam Sam Prepares and makes deposit daily if significant or at least weekly Approves Purchase Requisition Colors= Not Prepares Purchase Order (PO) Compares Sales Reports to Daily Cash Collection Summaries and Compatible Approve PO Joe Joe total cash collected to the validated deposit documentation Places order Sam Sam Receives and verifies items Records revenue in the accounting records Prepares check/ payment (has access to unused checks) 1 st check signer(may record expenditure after 2 nd signature) 2 nd check signer, issues check, and records expenditure 4
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