Insufficient Fidelity Bonds for Accountable Officers
Department of Public Works and Highways · 2024
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe insurance bonds protecting public funds were lower than the maximum amount of cash the officers were responsible for, leaving funds at risk.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Fidelity bonds of AOs were not sufficient to cover their maximum cash accountabilities."