YES          NO          N/A

PART A: This Section to be completed by all applicable agencies.

CASH - Statutory References - CGS Sections 3-17, 3-112, 3-114, 4-32, 4-33, 4-37  
              and 4-69 to 4-107a

Receipts

Segregation of Duties

1.    Are the employees who perform collection and deposit preparation functions different  
       individuals than those responsible for recording cash receipts and general ledger entries?

 2.    Is incoming mail opened and are receipts listed by persons that have no access to cash  
        receipts or accounts receivable records?

3.    Are responsibilities for cash receipts functions separate from those for disbursements?

4.    Are responsibilities for entries in the cash receipt records segregated from those for 
       general ledger entries?

5.    Is there segregation of duties within processing activities?

Procedural Controls

  Collections

6.    Are all receipts deposited in a timely manner, preferably daily? (Pursuant to CGS 4-32).

7.    Are the collection, deposit, and recording of receipts in the accounting records 
       segregated at each collection point?

8.    Are prenumbered cash receipts prepared and customers' remittance data and other 
       support attached?

9.    Do adequate physical controls exist over cash receipts from opening mail to bank deposit?

10.  Is there timely remittance of cash receipts from collection points to general accounting
       unit?

11.  Is a comparison of daily reported receipts conducted on a test basis to bank statements to 
       verify timeliness of deposits?

12.  Are receipts deposited intact on a daily basis and are collection documentation totals 
       compared to bank deposits and postings to cash receipts journals?

13.  Is a restrictive endorsement placed on incoming checks as soon as they are received?  

14.  Are "not sufficient funds" (NSF) checks delivered to someone independent of processing       
       and recording of cash receipts?

15.  Do procedures exist for follow-up of NSF checks?

16.  Are post-dated checks, disputed items, unidentified receipts, NSF checks, checks charged
       back by banks, and similar items subject to normal receipts controls, and received and
       investigated by persons independent of preparation of deposits and posting of accounts
       receivable detail?

17. Do controls exist to ensure that checks are returned promptly for deposit if checks received    
      are used as a source document to post taxpayer or customer accounts?
      (Note: OSC and OPM do not  recommend using checks as a source document.)

 

        YES          NO          N/A

 18.   Are over the counter receipts controlled by cash register, prenumbered receipts, or other
         equivalent methods?

 19.   Are such receipts accounted for and balanced to collections on a daily basis? 

 20.   Do facilities exist for protecting undeposited cash receipts?