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DEFINITIONS: <br />AUDIT <br />00.0033 <br />A. A formal or official verification and examination <br />of Account. <br />B. A final statement of accounts. (w &s7Fr) <br />TYPES OF AUDIT (Minnesota State Statues), <br />a. Current by Officials of the Village <br />b. Jndeoe dent Must be performed by agency outside the <br />control of the Municipality. <br />KINDS OF AUDIT: <br />a. General Complete <br />b. General limited <br />c. Special complete <br />d. Special limited <br />e. Cash complete <br />f. Cash limited <br />Pre audit of disbursements and an internal check of receipts, both <br />by local officials. <br />TYPES OF AUDITS (M.F.O.A. <br />t -t -_c.P. <br />a. Internal Current audit of receipts tL V v' <br />Pre -audit of requisitions <br />b. External Pre -audit of vouchers and warrents (n� c/ [Cr.g t <br />post audit of disbursements and receipts <br />Kit/CIS Qt 4u cSec peeve' <br />Part of the auditing process performed by local officials <br />an internal audit: for example <br />Each disbursement is approved only when it has been <br />authorized by law, supported by approv d invoices. A disbursement# <br />is made in Mounds View when an approve in voice or statement i-s <br />received. This still must be reviewed by the governing_body or <br />audited by the Council. Not only the individual disbursement is <br />audited by each member of the council (the council signs the claim <br />slip) but each check is individually signed by the Mayor, Treasurer <br />and Clerk. <br />A further audit is made of each disbursement at each council <br />meeting, that is the auditing of the list of bills, i.e. Civil Defense, <br />Recreation, Police Department. These are internal audits of all <br />disbursements audits conducted every meeting by your elected officials. <br />