Audit: Jeff Davis improving asset system; more work needed

<p class="p1">JENNINGS — Improvements have been made in updating and reconciling the fixed-asset system for the Jeff Davis Parish Police Jury, but more improvements are needed, an annual audit found.</p><p class="p1">“We are recommending that to make sure the fixed-asset system is accurately and timely that it is updated on a monthly or quarterly basis during the year, not right at the end during the audit,” accountant Aaron Cooper told the Police Jury this week.</p><p class="p1">During the audit, he said, some corrections were necessary to reconcile additions to the fixed-asset system to the general ledger.</p><p class="p1">The fixed-asset system includes all the inventory of equipment and buildings. Inaccurate data in the system lead to errors in the financial statements, Cooper said.</p><p class="p1">In a separate finding, a review of cash receipts revealed that Police Jury personnel failed to list several receivables for accrual.</p><p class="p1">“After the end of the year the Police Jury goes through its receipts and identifies those receipts that relate to the prior year and accumulate that so that adjustments can be made to book them into the last year because that is when they bought them,” he said. “We missed a few this year.”</p><p class="p1">Cooper said the Police Jury should require personnel to review subsequent cash receipts to ensure that all receivables are listed for accrual.</p><p class="p1">Additionally, a review of bank reconciliations found that cash in one bank account was understated by $60,078.</p><p class="p1">“We had a deposit that came in at the end of the year and actually hit the bank the end of December, but it was not recorded on the books until the following month,” Cooper. “It should have been recorded in the last year.”</p><p class="p1">All cash receipts should be recorded in the correct accounting period to avoid misstatements, he said.</p><p class="p1">A previous finding from last year concerning the way some purchase orders are handled has been resolved, Cooper said.</p><p class="p1">“For several years we have had expenditures that didn’t have proper purchase orders attached to the voucher,” he said. “During our testing this year, we did not have any of those findings.”</p>

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