Determine if Company officials ensured that financial activities were properly recorded and reported, and that Company moneys were safeguarded.
- The Board has not provided adequate oversight of financial activity.
- Treasurers did not maintain complete, accurate, and up-to-date accounting records and reports or perform monthly bank reconciliations.
- Company officials did not maintain adequate fundraising documentation.
- The Board should enforce the bylaws and adopted policies and procedures.
- The Treasurer should maintain complete, accurate and up-to-date records and reports, and perform monthly bank reconciliations.
- The Board should develop and adopt policies and procedures for fundraising activities.
Company officials generally agreed with our recommendations and have initiated, or indicated they planned to initiate corrective action.