Nashville, TN
United States
Ensure that the proceeds of the property sold in 2018 for which LSC held a full reversionary interest are properly classified as LSC derivative income in accordance with LSC guidance.
Ensure that all checks outstanding for more than six months are investigated and cleared per the grantee’s written policy and LSC guidance.
ensure that investment and client trust accounts are reconciled at least once annually if the account activity is minimal, and the payroll account is reconciled monthly.
Ensure that the grantee’s policies are followed, and bank reconciliations are performed timely each month.
Ensure that operating account reconciliations are reviewed, and that such review is documented.
Update the user rights for both the accounting system and cash receipts log so that the accounting staff have access based on their roles and responsibilities.
Ensure that the arrangement with the accounting system support provider is formally documented in a contract.
Ensure that evidence of contract competition or sole-source justifications are maintained in a central file. Additionally, contracts should be re-bid or re-evaluated every three to five years.
Ensure that the recently initiated practice of establishing contracts with janitorial service providers is implemented in all applicable offices.
Ensure that purchase orders are used for all applicable cash disbursements, and that approval is documented for all disbursements prior to payment.
Ensure that LAS’ written policies are updated to reflect the current practices in place over cash disbursements, including the Litigation Approval Form and the non-requirement of check requests for recurring invoices.
Ensure that the grantee’s written policies are followed, and that voided checks are filed with appropriate forms and documentation.
Ensure detailed written procedures over the allocation of indirect costs, including the calculation and application of occupancy costs are included in the grantee's Accounting & Financial Policies and Procedures Manual.
Ensure the Accounting & Financial Policies and Procedures Manual is updated to provide clarity on the allocation of administrative costs, including the allocation base and how allocations are calculated.
Develop a credit card user agreement form for authorized credit card holders and users to read, acknowledge and sign. The agreement may include, but not be limited to, repayment terms and conditions for personal use or misuse of the card. The signed…
Review all credit card statements before they are submitted to the Director of Finance for final transaction review and recording into the General Ledger.
Ensure that a physical inventory is conducted in 2020 and in subsequent two-year cycles, and that the Accounting & Financial Policies and Procedures Manual is updated to reflect the two-year inventory requirement.
Recommend the grantee either eliminate the cell phone reimbursement policy or update the policy to include details concerning the specific procedures to be followed to request reimbursements, the required supporting documentation, and the amount to be…