What Was Performed? An Agreed Upon Procedure of the Office of the State Treasurer (OST) Bank Reconciliations for Quarter Ended June 30, 2020. OST’s bank reconciliations team reconciles the collections and disbursements recorded with banks with what is recorded in the state’s accounting system (First State Financials). The team ensures the total amounts are accurately recorded in both systems.Additionally, the team haphazardly1 selected a sample of wire transfers to ensure they matched the bank statements and occurred within one business day.What was found? All tested samples reconciled correctly.Why This Engagement? This engagement was performed in accordance with 29 Delaware Code §2906(b). The State Auditor reviews the bank reconciliations produced by OST to ensure the reconciliations are accurate.The Agreed Upon Procedures of the Office of the State Treasurer Bank Reconciliations forQuarter Ended June 30, 2020, can be found on our website.1 Haphazard sampling is a sampling method in which the auditor does not intend to employ a systematic approach to selecting a sample
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