Determine whether water and electric cash receipts were recorded and deposited in a timely and accurate manner.
- We reviewed 1,963 water and electric cash receipts totaling $184,500 and found that they were properly recorded and deposited in a timely manner. However, the Board has not established adequate controls over these receipts.
- Village officials did not adequately segregate the Deputy Clerk-Treasurer’s (Deputy) water and electric financial duties or provide oversight of her work. As a result, the Deputy had complete control over water and electric cash receipts and was able to make adjustments to customer accounts and delete transactions without proper oversight.
- Segregate the Deputy’s financial duties or establish compensating controls, such as providing additional oversight of the Deputy’s work.
Village officials generally agreed with our recommendations and indicated that they have initiated or planned to initiate corrective action. Appendix B includes our comment on an issue raised in the Village’s response.