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I <br /> 30 Evaluation of Actions Taken on Colorado Water Conservation Board as of December 1999 1 <br /> Recommendation No. 17 (September 1998): I <br /> The Water Conservation Board should work with the Department of Natural Resources' Accounting <br /> I <br /> Section to improve its accounting procedures and strengthen internal controls. This should include: <br /> • Strengthening management controls over the processing and review of payment vouchers to <br /> ensure proper processing. <br /> • Reassigning various cash receipt-related responsibilities to ensure adequate segregation of <br /> duties and establishing procedures to ensure that cash receipts are properly recorded and <br /> deposited. <br /> Working with the Department to identify and correct loan balance information. The Board <br /> I <br /> • g p Y B <br /> should also communicate the results of its periodic loan review process (see <br /> Recommendation No 12) to the Department to ensure that loan information remains up to <br /> date and accurate. <br /> Water Conservation Board's Report Response p p <br /> (September 1998): <br /> I <br /> Agree. The assignment of cash receipt-related responsibilities and stronger accounting <br /> controls are already in place. These procedural corrective measures will be documented and <br /> reported to the Board by February 1, 1999. Loan balances will be reconciled in cooperation I <br /> with the Department's Accounting Section staff by June 30, 1999. <br /> Implementation date: July 1999. 1 <br /> Water Conservation Board's Update (October 1999): <br /> I <br /> In progress. Since the time of the audit, the CWCB has hired an accountant and is in the <br /> process of hiring a contract compliance officer. The duties identified in the audit report are <br /> I <br /> currently allocated between the accountant,a data entry position,and the contract compliance <br /> officer. All cash receipts and payout vouchers are currently approved in the Department's <br /> Accounting Section which lends itself to another level of review prior to payments being <br /> I <br /> deposited or warrants being issued. Process reviews will continue as duties continue to be <br /> reassigned. Finally,both the CWCB and the Department's Accounting Section are working <br /> on reconciling the loan balances on COFRS. 1 <br /> I <br /> I <br /> I <br />