Minutes 11/23/1982 - Laserfiche WebLink

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1,;., .) x \ ~ "--'J NOVEMBER 23, 1982 TUESDAY eliminated the numerous phone calls for information from vendors which previously existed. However, when a vendor had more than ten invoices in the system, the computer program voided the check mechanically by printing asterisks in the dollar position on the check, printed the vendor's name and the phrase "continued on next check". The program then caused the check to skip to the next stub portion and continued to print invoice numbers and dollar amounts per invoice. As an example, if fifteen (15) invoices were in the system, two checks printed--one valid and one mechanically voided. Both checks were then processed through the check bursting/signing machine and mailed to the vendor. Our mistake was not to pull our the mechanically voided check prior to mailing. This is now being done. DORMANT BANK ACCOUNTS The City currently maintains two checking accounts on which no checks have been issued in excess of two years. Out- standing checks on these accounts should be written off and the balances in the accounts transferred to regular checking accounts or interest bearing accounts. One of these accounts is a holdover from the time when the City was responsible for writing various welfare checks, and this account is at Virginia National Bank. When the State began to make welfare payments directly to recipients, the account lapsed into disuse. The second account, with Piedmont Trust Bank, was set up as a special checking account to fund the local tax rebate of 1979. Since that time, the account has been left open to handle the few checks that periodically cleared, even though these checks were clearly marked "to be cashed within 90 days". Although the Finance Department is held as a correspondent for the invest- ment of idle funds, it has no direct control over bank accounts. We will follow up immediately, however, on previous requests to the Treasurer to close the two dormant accounts in question. Summary We generally concur with the recommendations in the auditor's report. Many of these matters have been or are being presently resolved. Other than where noted, we do not anticipate that those concerns within my jurisdiction will persist by the end of the current fiscal year. Response by City Treasurer Bouldin I wish to make the following response to the items you requested, as covered in the current audit report for the fiscal year ending June 30, 1982: With regard to the reconciliation of bank accounts, I have endeavored