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Audit committee hears internal claims review, seeks online-banking policy redline
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Summary
The Port Washington Union Free School District audit committee reviewed the internal claims auditor’s quarterly voucher work, discussed a higher-than-usual count of voided checks, and agreed to redline a draft online-banking (ACH) policy with input from the internal auditor ahead of a recommendation to the policy committee.
Julie Epstein, chair of the Audit Committee, opened the April 15 meeting by introducing Mara Anderson, the district’s internal claims auditor, and asking her to summarize work on voucher packets.
Anderson described the claims review as the weekly examination of voucher packets that include requisitions, purchase orders, invoices and backup documentation. “What it is is all the backup paper requisition that starts if somebody needs to purchase something for goods or service ... So what we call that really is a voucher packet,” Anderson said, explaining that items over $2,000 require multiple quotes and that she verifies approvals and matching documentation before claims are paid.
Epstein noted the scope of Anderson’s most recent review: “She looks at 1,962 total checks reviewed from this October to December [period],” and committee members asked whether that represented the full run or a summarized sample and how samples are selected.
Committee members pressed on a related control issue after Anderson reported 40 voided checks in the quarter—“that’s a little high,” the auditor said—and discussed routine causes (printer errors, remittance-address problems, mistyped amounts). A member warned that absent clear documentation, voided checks could enable misappropriation and urged that copies or clear annotations be retained with each voucher packet; Anderson said most packets include a copy of a voided check, and voids are listed on the warrant with check number, date and amount.
Members also discussed expanding online payment (ACH) use for vendor payments and the cyber controls that must accompany such a transition. Dimitri Vantelestas, the district’s internal auditor, described sample online-banking policies used by other districts and emphasized the need for dual controls, positive-pay measures, and secure wire templates. Epstein asked that the committee receive a draft of the online-banking policy, mark it up collaboratively, and return redlines in advance of the next meeting so the committee can forward a recommendation to the policy committee.
The committee did not take a formal vote on policy language at the session; instead members agreed to receive claim reports more promptly and to review a proposed online-banking policy together before recommending it to the policy committee.
