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Resident questions district cash management, diversification and internal controls; staff outlines SOPs
Summary
During public comment resident Patrick Oates asked whether the district diversifies deposits and whether staff receive certified training on cash management. The Business Administrator said the district maintains an internal control manual updated annually and uses segregation of duties; staff agreed to review diversification options.
A resident raised questions during public comment at the Winslow Township Board of Education meeting about the district’s cash management, investment diversification and internal controls in light of recent bank failures.
Patrick Oates, who identified himself as a resident, asked whether the district was diversifying funds after recent bank closures, whether staff take certified training on cash management procedures and what internal controls are in place. He asked specifically about page 20, item 41 concerning repository funds for investment purposes and about procedures for monthly…
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