INTERNAL COMPLIANCE. Maintaining Financial Control. User Guide for Cobb County Employees 7/17/2014. Created for: The Cobb County School District

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1 Maintaining Financial Control User Guide for Cobb County Employees 7/17/2014 Created for: The Cobb County School District 514 Glover Street Marietta, Ga (770) Created by: CCSD Financial Services Local School Accounting 440 Glover Street Marietta, GA 30060

2 Revision Chart The following chart lists the revisions made to this document. Use this to describe the changes or additions made to the document each time it is re-published (draft or final). The description should summarize the changes as possible. Date Author Description of Changes 4/16/2013 Kim Coonfield Initial Document 5/9/2013 Debbie 6/24/2013 Debbie 7/12/2013 Debbie 10/15/2013 Suzanne Hatfield 2/12/2014 Debbie 7/17/2014 Suzanne Hatfield Changed Department Name from Internal Audit/Local School Accounting to Internal Compliance; Removed Page Numbers Referenced in Sources of Information Changed Contact Information Updated Table of Contents and Department Name in all Sections of Document; Clarified Control Procedures and Scope of Audit; Updated Contact Information Update for Manager contact information Updated Page Titled, Internal Compliance Updated for Change to Use of Discretionary Funds Maintaining Financial Control Page 2 of 6

3 Table of Contents... 1 Revision Chart... 2 Internal Compliance... 4 To Maintain Good Financial Controls... 4 Deposits... 4 Purchasing... 4 Internal Controls... 5 Contracts... 5 Travel... 5 Use of Accounts... 6 Other... 6 Questions... 6 Maintaining Financial Control Page 3 of 6

4 Internal Compliance The Internal Compliance Department is a department established within the Cobb County School District (District) to verify compliance with laws and regulations, Board Administrative Rules and written department procedures. It includes managing the outsourced local school audits, and overseeing the Local School Accounting, Financial Trainers and Property Control functions of the District. The Department also evaluates internal controls, documents financial integrity and recommends improvements to District Administration to enhance the District s financial performance, reduce the risk of fraud and other corrupt/illegal conduct and increase accountability to the public. The Internal Compliance Department also strives to promote efficiency, effectiveness and economy in District operations. To Maintain Good Financial Controls Deposits Deposit all money daily Store any money held overnight in the school safe Deposit all money collected in the school s name in the school s bank account Ensure personnel is available to open safe for armored car driver Report missed armored car pickups to Financial Services Source: Local School Accounting and Procedures Manual Purchasing Complete in its entirety the Local School Check Request (FS-381) for each purchase Document pre-approval for ALL purchases Obtain bids/quotes when required by Purchasing procedures Maintain sufficient documentation (including receipts, invoices, names of meal attendees or gift recipients, packing lists) Pay all bills timely Don t pay sales tax Source: Local School Accounting and Procedures Manual; Purchasing Regulations Maintaining Financial Control Page 4 of 6

5 Internal Controls Update and submit the School Safe Authorization form (FS-339) and Confidentiality Agreements (FS-340) annually and when safe users change Ensure financial records are organized and correctly filed Ensure lunchroom manager properly secures change fund and lunchroom receipts in school s safe Sources: Local School Accounting and Procedures Manual; Food & Nutrition Services, Manual for Cafeteria Manager Contracts Obtain, sign and file picture and vending contracts each year Review picture and vending commissions to ensure amounts received are in compliance with contract terms Complete Performance Contracts for non-employees paid for services with local or county funds The principal must sign all contracts obligating school funds Sources: Local School Accounting and Procedures Manual; CCSD Board Administrative Rule JKA Student Activities: Fundraising Activities Travel Obtain approval before traveling using the Authorization for Out of Town/Overnight Travel (FS-125) Report all travel expenses after the trip using the Employee Expense Statement for Out of Town/Overnight Travel (FS-100) and attach required receipts Only reimburse allowable travel expenses Source: CCSD Travel Procedures Maintaining Financial Control Page 5 of 6

6 Use of Accounts Post transfers, receipts and disbursements in accordance with Chart of Accounts Acknowledge donations each year by reporting to donor how funds were used Use funds for their designated purpose Sources: Chart of Accounts Other Do not collect money in classrooms at Elementary and Middle Schools The Elementary School After School Program should operate as a prepaid program with a positive fund balance; submit ASP monthly reports to Financial Services High Schools should maintain booster club documentation in compliance with District Administrative Rule LEC-R Sources: Local School Accounting and Procedures Manual; After School Program Procedures Manual; District Administrative Rule LEC-R; Questions Contact Internal Compliance Department Deborah, Director Suzanne L. Hatfield, Manager Cathy Strudthoff-Brown, Internal Compliance Technician Maintaining Financial Control Page 6 of 6