Untimely Replenishment of Petty Cash Fund
Department of Public Works and Highways · 2024
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Internal Control DeficiencyThe petty cash custodian waited too long to ask for more funds, which can disrupt operations and shows weak oversight.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"The PCF was not replenished in a timely manner due to the failure of the PCF custodian to submit the same for replenishment when the fund was more than 75 percent depleted."