HomeMy WebLinkAboutDocumentation_Regular_Tab 7D_4/25/1991 V
v111 VILLAGE OF TEQUESTA
Post Office Box 3273 357 Tequesta_Drive
3 , Tequesta,Florida 33469-0273 • (407) 575-6200
' ° FAX: (407) 575-6203
B,CMI COU$ 4
MEMORANDUM:
TO: Village Council
FROM: Thomas G. Bradford, Village Manager
DATE:
. April 19, 1991
SUBJECT: Fiscal Year 1989/90 Comprehensive Annual Financial
Report; April 25, 1991 Agenda Item VII E
Attached is your copy of the Village of Tequesta Comprehensive
Annual Financial Report for the fiscal year ending September 30,
1990. 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/j mm
Enclosures - 2
Recycled Paper
4
VILLAGE OF TE UESTA � '
,,CC�� o ini Post Office Box 3273 • 357 Tepnquesta Drive -�., . , 4r „
'-i 4 Tequesta,Florida 33469-0273 • (407)575-6200 '` x, , „... , V a te . rl
of*,N,�--.E FAX: (407)575-6203 * •L • z� FSt.
Cj COUNS
April 26, 1991
State of Florida
Office of the Auditor General
Tallahassee, Florida 32304
Attention: Mr. Sidney H. Torbit, C. P. A.
Director, Administrative and Support Services '
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, 1990, which was accepted by the
Village Council at the April 25, 1991 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 104 and 105 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 a staff level employee, not associated with
the Finance Department performed test checks of payroll
processing procedures. Test checks of other financial procedures
could not be performed until the Finance Director revised the
"Financial Procedural Guide" of finance operations. Such
document was completed prior to the close of the fiscal year and
will be used to perform periodic test checks of compliance to
prescribed policies and procedures in the future.
Accounts Receivable
This item occurred when Accounts Receivable collections
received the last business day of the fiscal year were processed
and posted to the customer accounts the first business day of the
new fiscal year which was necessitated because a monthly utility
billing was processed the same day. To correct this situation a
manual entry was made to record the cash received to Accounts
Receivable the last business day of the current fiscal period,
and a reversing entry was posted to Accounts Receivable. for the
new accounting period.
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State of Florida
Office of the Auditor
April 26, 1991
Page 2 —
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Payroll
The contractural secretarial position within the Building
Department was discontinued upon notification of our external
auditors opinion that the position constituted an employer—
employee relationship.
Accounting System
The audit trail of Water Department transactions and
computer reporting capabilities referred to were in the process
of being corrected during this fiscal year. Items 1, 2 and 4
were corrected prior to the close of the fiscal period. Item 3,
( written procedural guide of all phases of Water Department
transactions) is currently being drafted by our Finance Director
to reflect the revised financial procedures resulting from the
revised computer program changes. These revisions will be
included in the revised Village Financial Procedural Guide.
Sincerely,
Thomas G. Bradford
Village Manager
TGB/at
Enclosures ( 2)
cc: Bill C. Kascavelis, Finance Director
Nowlen, Holt & Miner, CPA' s