What Was Performed? The Auditor of Accounts (OAOA) performed an Agreed-Upon Procedures engagement on bank reconciliations prepared by Office of the State Treasurer (OST) for the Quarter Ended September 30, 2020. Why This Engagement? The Auditor of Accounts is mandated to arrange this engagement in accordance with 29 Del. C. §2906(b) to determine that the books and records maintained by the office of the Secretary of Finance are kept in accordance with generally accepted accounting principles and are reconciled with the various bank accounts. The Office of Auditor of Accounts reviewed the bank reconciliation produced by the Office of the State Treasurer to ensure the reconciliations are accurately stated. Agreed-Upon Procedures: The OAOA performed specific procedures agreed to be appropriate for the purpose of representing those records maintained by the office of the Secretary of Finance are kept in accordance with generally accepted accounting principles and are reconciled with the various bank accounts. What Was Found? The General Fund/Special Fund cash balance of $3,854.2 million noted in the Department of Finance’s monthly Financial Report, as of September 30, 2020, did not agree to thecash total of $3,850.3 million recorded in First State Financials for a difference of $3.9 million. This difference was reported to OST for follow up. The Agreed Upon Procedures report on the OST bank reconciliations for quarter ended September 30, 2020, can be found on our website: click here. For any questions regarding the attached report, please contact State Auditor Kathleen K. McGuiness at Kathleen.Mcguiness@delaware.gov
DE
United States
