Internal Controls & Financial Accountability
January 2018
The Ohio County Public Library Board of Trustees has developed the following policies and procedures to provide reasonable assurance to stakeholders regarding its accounting system that:
- Adequate separation of financial duties
- Documents and records are properly maintained and safeguarded
- Physical control over assets and records are limited to appropriate personnel
- Transactions receive proper authorization prior to being completed
The Library Director, Treasurer and Board of Trustees will abide by the Uniform Internal Control Standards for Indiana Political Subdivisions as set by the State Board of Accounts by Indiana Code 5-11-1-27 and to continue ongoing training as necessary.
The Treasurer is bonded.
The Treasurer will provide each month to every board member and will review at the board meetings:
- Monthly signing of claims
- Financial Report of all funds
- Monthly Bank Reconciliation Report & Bank Balance Report
The Treasurer is also responsible for preparing vouchers and checks. They prepare the payroll. They are the custodian of the check stock, preparation, and signing with the Library Director and the Board of Trustees. Designated board member may also sign checks if an emergency should arise.
The Library Director oversees and reviews all timecards before submitting them to the Treasurer for payroll.
Office staff open the mail. The Treasurer will review invoices and enter in the accounting system.
Staff members will handle the intake of money for fines, fees, and donation at the circulation desk. The funds will go into the cash drawer. The Treasurer is responsible for counting the cash drawer and making deposits when necessary.
