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I . .1VILLAGE OF TEQUESTA
Z .•` ' Post Office Box 3273 • 357 Tequesta Drive
'4i' — Tequesta, Florida 33469-0273 • (407) 575-6200
1 , � FAX: (407) 575-6203
MEMORANDUM:
TO: Village Council
FROM: Thomas G. Bradford, Village Manager
DATE: April 19, 1990
SUBJECT: April 26, 1990 Agenda Item VIII F;
Fiscal Year 1988/89 Comprehensive Annual Financial
Report
Attached is your copy of the Village of Tequesta
Comprehensive Annual Financial Report for the fiscal year ending
September 30, 1989. Also, attached is our reply to the Auditor
General, State of Florida, regarding our independent auditor' s
comments and recommendations for improving financial procedures
and controls reported in Appendix A of the CAFR.
In order for the CAFR to be officially accepted, the
Village Council should formally accept the same by motion.
TGB/jmm
Enclosure - 2
�, .,,:• VILLAGE OF TEQUESTA
41 .•• �• Post Office Box 3273 • 357 Tequesta Drive
• ` -��,•` " Tequesta, Florida 33469-0273 • (407) 575-6200
FAX: (407) 575-6203
April 27, 1990
State of Florida
Office of the Auditor General
Tallahassee, Florida 32304
Attention: Mr. Sid Torbit
Dear Mr. Torbit:
Enclosed are two copies of the "Comprehensive Annual
Financial Report" for the Village of Tequesta, Florida, for the
fiscal year ending September 30, 1989, which was accepted by the
Village Council at their April 26, 1990 Village Council Meeting.
With regards to the independent auditor' s comments and
recommendations for improving the financial procedures and
controls contained in Appendix A on pages 99 and 100 of the CAFR,
we submit the following comments directed to alleviate conditions
cited or improve upon the areas specified:
Segregation of Duties
During the year, various processing procedures were revised
within the Finance and Administrative Departments of the Village
to improve the accounting control cycles. However, in accordance
with our external auditor' s recommendations a staff level
employee, not associated with the Finance Department, will be
assigned the task of performing periodic tests of the Finance
Department to determine compliance with prescribed policies and
procedures.
Building Department Revenues
Building Department receipts are remitted to the Finance
Department daily for deposit. This item was addressed upon
notification from our external auditors. Also, departmental
receipts are monitored by the Finance Department to insure
compliance with Statutory requirements.
Accounts Receivable
The cash receipts of the Water Department are currently
recorded as the date received. This item surfaced during a
reorganization change of office billing personnel and has been
corrected.
State of Florida
Office of the Auditor
April 27, 1990
Page 2 -
Authorized Signature
This matter was corrected immediately upon notification from
our external auditors, by the reissuance of current authorized
signatory cards with the Village depository bank and the removal
of outdated signatory cards from our bank' s files.
Procedural Manual
The Village Finance Director is currently in the process of
revising the Village Financial Procedural Guide. The procedural
guide will be completed this fiscal year and will be used in the
process of conducting procedure compliance tests of financial
administration activities. The Financial Procedural Guide will
also be revised on a continuous basis to enable continuity of the
document.
Sincerely,
Thomas G. Bradford
Village Manager
TGB/BCK/mk
Enclosure - 2
cc: Bill C. Kascavelis, Finance Director
Nowlen, Holt & Miner, CPA' s