The Clinton Herald, Clinton, Iowa

Clinton

June 28, 2012

‘Clean’ audit issued for gaming board

CLINTON — The Clinton County Development Association received a “clean” audit this year, but the group will be paying more attention to further internal controls following a suggestion from the organization’s 2011 financial audit.

Jill VanRoekel from Winkel, Parker & Foster, PC, presented the audited 2011 financial statements to the CCDA on Wednesday. She said the audit received a clean, unqualified opinion.

“It is the best opinion you can receive,” she said. “We don’t issue an opinion on internal controls, but do want to bring to the attention.”

The controls are routine procedures used to ensure money is being handled properly.

The CCDA is responsible for more than a million dollars in grants and scholarships from Iowa gaming facilities revenue, which is distributed twice a year through two gaming funds. The Fund A grants and scholarships have already been awarded. The Fund B applications are due July 10.

One section VanRoekel focused on was the need for duties to be segregated.

“You obviously have a small number of people employed in administration functions which makes it hard to ideally segregate duties,” VanRoekel said.

The first means of segregating duties VanRoekel suggested was modifying the bank reconciliation process.

The audit noted that bank reconciliations are prepared on a monthly basis but there’s no formal review process. According to VanRoekel, the CCDA could tighten their controls by having another person with the proper skill set review the documents and sign off on them.

“It’s a good place to see if there’s something going on that you wouldn’t be aware of,” VanRoekel said.

The second means of strengthening internal controls VanRoekel suggested was instituting a system to monitor transfers made monthly from the organization’s money market to the checking account to cover expenses.

“We recommend somebody approve those or sometimes if a transfer is initiated maybe an e-mail be sent to somebody else other than who made it because those transfers can be rather large,” VanRoekel said.

Additional suggestions offered by the audit included having accounts payable checks mailed by a person other than the one who prepares them.

While there is an authorized signer separate from the preparer, a third person could be inserted in the process, VanRoekel said.

Finally, financial journal entries should be more closely monitored.

“With one person having a lot of control over the general ledger they could manipulate that quite a bit,” VanRoekel said.

After VanRoekel delivered the audit, CCDA vice-president Tom Fullerton suggested a committee fix some of the internal control gaps WFP reported.

“Let’s...see how we can close some of these doors. It sounds like other non-profits have found a way to do it using board leadership,” Fullerton said.

1
Text Only
Clinton
  • JUST IN: Local 888 files for arbitration with the city

    AFSCME union is the second this summer to file for arbitration against Clinton.

    July 21, 2014

  • Fire causes Vitale's closure

    Vitale's restaurant closed this afternoon, according to the business's Facebook page, citing a small fire for the cause of the closing.

    July 21, 2014

  • kyle.jpg Voices lifted for Habitat (with VIDEOS)

    CLINTON — Members of the community came out in droves Sunday afternoon to attend a Concert for a Cause, a first-time event benefiting Habitat of Humanity of Clinton County.More than 70 voices joined together in the Vernon Cook Theater for the CHS Alu

    July 21, 2014 5 Photos

  • GM looks to combat decreasing revenue CLINTON — The new general manager of the Clinton Wild Rose Casino and Resort hopes to utilize programs and giveaways to counteract decreasing revenue.During the Clinton County Development Association meeting last week, General Manager Travis Dvorak r

    July 21, 2014

  • Showboat 'Wonderful Town' performance to begin CLINTON — The Clinton Area Showboat Theatre will showcase its fourth production of the summer this week.The Leonard Bernstein musical "Wonderful Town" will begin its run on the Showboat stage at 7:30 p.m. Thursday. A reception will follow the perform

    July 21, 2014 1 Photo

  • Talent Show secondary art Two move on to State Fair DEWITT — Want a free bid to the Iowa State Fair? A few girls in the Clinton County Fair’s Bill Riley Talent Show figured out that one way to punch that ticket is to get on the stage.Participants age 7 to 16 did so on Sunday, showcasing their gymnasti

    July 21, 2014 2 Photos

  • Eight dead people still registered to vote

    CLINTON — The Iowa Secretary of State’s office found that 1,234 presumed dead people are still registered to vote in Iowa, including eight in Clinton County.The state uncovered the names by cross referencing with the Social Security Death Index. The

    July 21, 2014 1 Story

  • Kinser salary increase on the agenda

    CLINTON -- Seven months into the new term, the Clinton City Council has avoided closed session. Tuesday’s regular meeting, however, features two topics that likely will move into a closed meeting.First, city leaders will discuss “pending or imminent

    July 21, 2014 1 Story

  • L'Kings barely miss weekend sweep LANSING, Mich. -- The Clinton LumberKings were one strike away from their fifth win in six games, another road series victory and a one-run triumph. But closer Emilio Pagan allowed a game-tying infield single in the ninth inning, and Aaron Brooks all

    July 21, 2014

  • Jhanson Calling America home CLINTON — Born in Russia, Natasha Jhanson now considers the United States her home.When the 41-year-old was born in Russia, the Soviet Union was still intact. When Natasha was 14, the area split into multiple countries. At that point, her family move

    July 19, 2014 1 Photo

Clinton Herald Photos


Browse, buy and submit pictures with our photo site.

Facebook