Unreconciled Cash Balances in Cash-Treasury/Agency Deposit, Trust
Department of Public Works and Highways · 2023
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Internal ControlSome trust fund deposits have not been matched with records, which means the agency cannot be sure that its cash balances are accurate.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Account represents collections from sale of bid documents, cash bonds, performance/bidders’ bonds and restoration fee. It also includes unreconciled cash balances."