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093273 1 (1972-10-05)

handle is hein.gao/gaobacxcu0001 and id is 1 raw text is: ii UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON REGIONAL OFFICE FIFTH FLOOR 803 WEST BROAD STREET FAL.s CHURCH, VIRGINIA 22046 OCT 5 1972 Dear Mr. Kirby: We have examined selected aspects of the accounting system in operation at the Extension Service (ES), Department of Agriculture. Our examination included an evaluation of the adequacy and effectiveness of the accounting procedures and internal controls relative to the receipt and disbursement of funds. In addition, we tested financial transactions and records in fiscal year 1972 as we considered appropriate. We found the procedures and internal controls generally effective and selected transactions normally processed in a satisfactory manner. We found, however, that there has been a lack of internal audit attention directed at evaluating the adequacy and effectiveness of procedures and controls over the receipt and disbursement of ES administrative funds. This matter is the subject of a separate letter to the Department of Agriculture's Office of the Inspector General. Other matters noted during our review are summarized briefly below for your use and information. Need for improved accounting control over cash receipts The General Accounting Office Policy and Procedures Manual for Guidance of Federal Agencies (2 GAO 12.2) provides that all moneys received should be placed under appropriate accounting control promptly upon receipt. We noted that receipts were not placed under accounting control by ES until a Treasury Department certificate of deposit was prepared which was usually once a week We brought this matter to the attention of ES officials who agreed to make arrangements to have cash receipts put under accounting control on a daily basis. Need to verify imprest fund more often Department of the Treasury Circular No. 1030 requires agencies to make unannounced audits of imprest funds, including the verification of cash balances, not less frequently than once each quarter. We found that only one such verification was made at ES in fiscal year 1971 and although four were made in fiscal year 1972, two were made in the same quarter. While ~~fr~q 73i 931 2 :

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