OIO - OFT Proactive Integrity Survey of the District's Gift Card Program
Office of the Chief Financial Officer
Executive Summary for Closed Reports
Report OIO No. 12-02-05 OFT: Proactive Integrity Survey of the District’s Gift Card Program, dated September 20, 2012.
Chief Risk Officer’s Risk Assessment
The Inherent Risk associated with the distribution of gift cards across the District is classified as high risk. The OCFO recognizes the importance of its cash equivalents and places particular emphasis on OIO’s recommendations. It should be noted that several of the recommendations were provided to Program agencies, and they are tracking their own results.
Overview of Recommendations
Four recommendations were provided to the OCFO, and all four have been implemented. Work done to strengthen the existing internal controls included the following:
- The ACFO for the Human Support Services Cluster (HSSC) worked with the Office of Finance and Treasury (OFT) to draft policies and procedures that centralized the distribution of gift cards directly from OFT only. No longer are agency program staff purchasing cards from vendors using SOAR checks. All requests supported by prepayments are purchased and inventories by OFT.
- The agencies’ program staff are providing monthly reconciliations of cards purchased and inventoried by OFT to the OCFO staff that are subsequently forwarded to OFT for review. These reconciliations include beginning balances, purchases, distributions and ending balances.
- The OCFO inventoried all cards held by cluster agencies.
- The OCFO documented and distributed policies and procedures for receipt and distribution of cards.
To view the full report, click: OFT Proactive Integrity Survey of the District's Gift Card Program.