Santa Cruz County June 30, 2004 Report Highlights-Single Audit

Santa Cruz CountyThe County TreasurerREPORTHIGHLIGHTS Needs to Improve itsSINGLE AUDIT Controls over Cash Treasurer's Total Cash and InvestmentsJune 30, 2004and InvestmentsSubject(In Millions)Santa Cruz County spent $8.1million of federal monies and The primary responsibility of the Countyadditional required County- Treasurer’s Office is to manage the $11.5$5.7matching monies this past County’s and political subdivisions’year for 44 programs. The monies. As of June 30, 2004, thelargest federal grants were forTreasurer’s Office held approximately $24airport improvement, jobmillion in public monies. A breakout of thetraining, and education. Inreturn, the County must be Treasurer’s total cash and investments ataccountable for its use of both June 30, 2004, is presented in the figure$6.7federal and state monies, to the right.maintain strong internalcontrols, and comply with CashThe Treasurer’s Office had not Government Securitiesfederal programLocal Gov ernment Inv estment Poolrequirements. As the auditors, established effective control proceduresour job is to determine and had not accurately reconciled itswhether the County met its cash journal to the Treasurer’s Report,responsibilities. • All three authorized signers coulddaily cash reconciliation, bank statement,prepare, approve, and sign checks,or investment ledger. Our report includedOur Conclusion and had access to blank checks.examples of internal control andThe County maintained reconciliation ...