Page 369 - Fort Worth City Budget 2019

Revenue Receipting

Policy

XIV. Liability for Loss

Departments performing payment receipting activities retain the ultimate liability for
misappropriation and loss or theft of payment until such time as the custody of cash is
transferred to the Armored Car service or the FMS department for deposit pick up staging.

XV. Monitoring Performance

Departmental controls shall include a practical means for employees to report instances
where system controls, processes and/or procedures are overridden that could increase the
City’s risk exposure. Department Directors, Assistant Directors, and
Managers/Supervisors shall monitor and annually assess any risk areas and adopt
appropriate strategies to manage these functions, thereby minimizing loss opportunities.

XVI. Audits

The Revenue Office of FMS will perform Cash/Change Drawer audits to determine
whether each Cash/Change Drawer and Imprest Fund balance is in agreement with the
associated balance on the City’s General Ledger.

The operational department(s) are responsible for auditing and validating all Cash/Change
Drawer and Imprest Fund balances on a quarterly basis and providing authorized FMS
Revenue Office personnel full access to all funds at all revenue collecting locations.

The FMS department is responsible for notifying the operational department(s), within a
reasonable lead time, to ensure the person with authority is available during the audit. At
the conclusion of each Cash/Change Drawer and Imprest Fund audit, the FMS department
will provide a memo detailing the results of the audit which will include instruction
for how to handle identified discrepancies.

For additional information or questions concerning this policy, please contact the FMS Treasury
Office at (817) 392-8500.

9 | P a g e

369