What Was Performed? An Agreed Upon Procedure of the Office of the State Treasurer Bank Reconciliations for Quarter Ended March 31, 2020. The Office of the State Treasurer’s bank reconciliations team (Reconciliations and Transaction Management) reconcile the collections and disbursements recorded with the banks with what is recorded in our accounting system (First State Financials). The bank reconciliations team ensures that the total amounts are accurately recorded in both systems. Additionally, the team haphazardly1 selected a sample of wire transfers to ensure agreed to 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 Del. C. §2906(b). The State Auditor reviewed the bank reconciliation produced by the Office of the State Treasurer to ensure the reconciliations are accurately stated.The Agreed Upon Procedures of the Office of the State Treasurer Bank Reconciliations for Quarter Ended March 31, 2020, can be found on our website.
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