Railroad Retirement Board Bureau of Fiscal Operations Sections' Functions Need Improvement

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Date Issued

Wednesday, September 1, 2021

Submitting OIG

Railroad Retirement Board OIG

Other Participating OIGs

Railroad Retirement Board OIG

Agencies Reviewed/Investigated

Railroad Retirement Board

Report Number

21-08

Report Type

Audit

Agency Wide

Yes

Number of Recommendations

Questioned Costs

$322,502

Funds for Better Use

Open Recommendations

This report has 5 open recommendations.

Recommendation Number	Significant Recommendation	Recommended Questioned Costs	Recommended Funds for Better Use	Additional Details
21-081	No	$0	$0	Management concurred with this recommendation.
The Bureau of Fiscal Operations should develop and maintain comprehensive set of policies and procedures for the Debt Recovery Section, Financial Systems Section, and Treasury Section, using in-house personnel with adequate relevant expertise and experience, or outsource the task to an entity with the relevant expertise and experience.
21-085	No	$0	$0	Management concurred with this recommendation.
The Bureau of Fiscal Operations should maintain documentary evidence of adequate periodic review of control activities performed.
21-086	No	$0	$0	Management concurred with this recommendation.
The Bureau of Fiscal Operations should ensure that the Debt Recovery Section’s policies and procedures include guidance and process for developing and modifying thresholds, including those related to waivers and write-offs.
21-087	No	$0	$0	Management concurred with this recommendation.
The Bureau of Fiscal Operations should maintain documentary evidence of adequate supervisory review of control activities around recording of transactions and reconciliations for the Debt Recovery Section.
21-088	No	$0	$0	Management partially concurred with this recommendation. This recommendation remains open as written because the Office of Inspector General for the Railroad Retirement Board continues to see the need for the entire recommended corrective action.
The Bureau of Fiscal Operations should develop and maintain a comprehensive set of policies and procedures for outsourcing the Financial Systems Section functions.