Purpose of Audit

The purpose of our audit was to evaluate the Authority’s cash receipts process for the period October 1, 2013 through June 11, 2015.

Background

The Geneva Housing Authority is located in the City of Geneva, Ontario County. The Authority, which maintains 247 low-cost rental units, is governed by a seven-member Board of Commissioners. The Authority’s low-income housing program’s operating budget for the 2014-15 fiscal year totaled approximately $3.2 million.

Key Findings

• Cash receipt duties were not adequately segregated and compensating controls were insufficient.
• The Authority does not follow procedures for depositing cash that exceeds the policy’s overnight cash level.
• Access rights to the housing software and accounting system are not properly restricted.

Key Recommendations

• Adopt written procedures for cash receipts that properly segregate job duties or provide additional management oversight of the process.
• Update the overnight cash level policy to clearly define the maximum amount to be held before deposit or require daily deposit of all receipts.
• Ensure that user access rights in the accounting system and housing software are limited to only those functions necessary for employees to perform their job duties.