HomeMy WebLinkAboutTR-45-82 CORPORATION OF THE TOWN OF NEWCASTLE
40 TEMPERANCE STREET
BOWMANVILLE, ONTARIO
„ L1C3A6 TELEPHONE 623-3379
REPORT TO THE GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MEETING HELD
SEPTEMBER 13, 1982.
TR-45-82
SUBJECT: REVIEW OF LOCAL BOARDS
RECOMMENDATION:
It is respectfully recommended that this report be received for information.
BACKGROUND AND COMMENT:
In order to review the financial activities of the local community centres,
community parks, and arena boards on an interim basis we requested all boards
to submit their records to May 31st, 1982 for review by Treasury Department
Staff during the months of July and August.
This interim review has now been completed and we have found most community
boards to be most co-operative in this venture. We feel the review has been of
benefit to both the local boards, in that we could assist in improving their
financial management records, and to the Corporation as staff now have an on-going
record to be maintained on the financial activities of each local board. It is
our intention to continue this semi-annual review, as well as have the local
boards with the larger dollar volumnes audited annually by the external auditors.
During the November review we will update our records and review the progress
of the local boards towards the recommendations which have been made.
The areas of concern which this review brought to our attention are outlined
briefly below. All members of Council have received copies of the letters sent
to the various boards, but what we have highlighted here are areas which are of
general concern in many of the boards.
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TR-45-82
BACKGROUND AND COMMENT: cont'd . . .
1 . Budgets were not prepared for the fiscal year ending December 31st,
1982 and therefore, there was no opportunity for comparison of actual
results to budget results.
2. Minute books were not properly kept,recording motions, passing of
accounts, etc. . As a corollary to that comment, voting on items
which may have involved a conflict of interest on the part of a
board member were not recorded in any manner. ie: passing accounts
which included monies paid to a board member's firm, etc.
3. Bank reconciliations had not been prepared and Treasury staff completed
them, in numerous cases, to May 31, 1982. ale, also, sent a bulletin
giving direction on the preparation of bank reconciliations to those
boards concerned.
4. Deposits 'to the bank were made on an irregular basis and the boards were
made aware of the inadvisability of this practice.
5. Receipts books or a master list of receipts were not present among
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numerous sets of records. This presents a problem in that we are not
able to determine that all monies received are deposited, in tact. The
boards have been given instructions to assist in correcting this matter.
6. In paying their accounts numerous boards have issued cheques without
the proper supporting documentation. They have been advised of the
inappropriateness of this action and given direction as to how to
properly cancel invoices, once paid.
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TR-45-82
BACKGROUND AND COMMENTS: cont'd .. .
In conclusion, we feel the exercise has been worthwhile and should
definitely be continued. In reviewing the boards' records on an interim
basis we will be able to keep Council , as a whole, more aware of the various
boards' individual financial activities.
Respectfully submitted,
Kathryn A. Campbell , C.A. , B.Com. ,
Treasurer.
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LB82-HB-14
12.08.82