Common Audit Recommendations—Disbursement & Purchasing
- Assign to separate people the duties of entering purchase requisitions online and reconciling transactions to the Budget Activity Reports (BARs).
- Purchase must be approved by an authorized individual
- Ensure disbursements are supported by appropriate documentation which includes purchase authorization, original invoices, and evidence that goods and services were received prior to payment.
- Do not use signature stamps to authorize transactions
- Monitor procard transactions to ensure users do not split purchases to avoid exceeding the transaction limits and competitive bid requirements.
- Establish procedures for issuing and cancelling procards.
- Monitor procard transactions to ensure appropriate use.
Petty Cash and Revolving Funds
Separate the custodian’s duties so that no one person has custody of the fund, approves reimbursements, and reconciles the bank statement.Retain voided or cancelled checks.
- Perform annual unannounced fund verifications.
- Obtain separate UWATS authorization codes for each employee
- Promptly activate and deactivate UWATS authorization codes.
- Review billings to ensure long distance system is used for University business only.
- Ensure that travel expense reports are approved by supervisors or a designee who does not report to the claimant..
- Ensure that out-of-state and foreign travel is properly authorized in advance when required.