OIO No. 14-01-01 DCLB: Audit of Cash Handling Process Over Promotional Events at the District of Columbia Public Lottery and Charitable Games Control Board
Office of the Chief Financial Officer
Executive Summary for In Progress Reports
Report OIO No. 14-01-01 DCLB: Audit of Cash Handling Process over Promotional Events at the District of Columbia Public Lottery and Charitable Games Control Board, dated February 20, 2014.
Chief Risk Officer’s Risk Assessment
The Inherent Risk associated with the collections of monies across the District is usually classified as High risk because the OCFO recognizes the importance of its cash collections. However, in this instance, it is worth noting that DCLB collections at promotional events for FY 2013 were $23,500. DCLB will implement OIO’s four recommendations.
OIO provided four recommendations, and all four have been implemented in an effort to strengthen internal controls:
- DCLB has reiterated the importance that the Events Manager, Cashier, Dual Controls Person, Vault Count and Reconciliation Reviewer sign the respective supporting documents.
- DCLB has developed and implemented a checklist cover sheet for promotional events cash handling to ensure that all of the required documents are included in the supporting documents package.
- DCLB has enforced the current policy and procedures which require that the settlement reconciliation be performed within 48 hours.
- DCLB has developed and implemented a process to notify the Office of Finance and Treasury (OFT) whenever the contractor is late for pick-up of cash from promotional events so that OFT can ensure that the terms of the contract are met and that the cash is picked up timely by the contractor.
To view the full report, go to: Audit of Cash Handling Process over Promotional Events at the District of Columbia Public Lottery and Charitable Games Control Board.