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Ulrich & Associates flags reconciliation discrepancies; Rush Valley plans tighter controls
Summary
The Town reviewed its annual accountant's report from Ulrich & Associates, which noted reconciliation discrepancies, outstanding old checks and a budget hearing notice timing issue; Clerk Patty Rowe told the council staff are implementing improved reconciliations, clearing old transactions and drafting a policy manual and fraud reporting hotline.
The Rush Valley Town Council reviewed an annual accountant's report from Ulrich & Associates at its May 27 meeting that identified several internal-control weaknesses and bookkeeping issues.
The report noted reconciliation discrepancies caused by transactions posted after reconciliations were completed, several old outstanding checks and a timing issue with a prior budget hearing notice. Clerk/Recorder Patty Rowe told the council that staff have started corrective steps, including tightening reconciliation procedures, mailing checks to recipients to reduce outstanding items, clearing old transactions and drafting a policy manual and a fraud reporting hotline intended to improve the town's fraud risk assessment score.
Council discussion included development of a policy manual and the proposed fraud reporting process. No formal motion was required; the council reviewed the report and accepted the recommended corrective measures for staff to implement.
The town will monitor progress on corrective actions and report back as requested by the council.
