HomeMy WebLinkAboutgr00090_000014_pg33DEFINITIONS:
AUDIT
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A. A formal or official verification and examination
of Account.
B. A final statement of accounts. (wi& 7r€r)
TYPES OF AUDIT (Minnesota State Statues)/
a. Current - by Officials of the Village
b. Independent - Must be performed by agency outside the
control of the Municipality.
KINDS OF AUDIT:
a. General - Complete
b. General - limited
c. Special - complete
d. Special - limited
e. Cash - complete
f. Cash - limited
Pre -audit of disbursements and an internal check of receipts, both
by local officials.
TYPES OF AUDITS - (M.F.O.A.)
a. Internal - Current audit of receipts
- Pre -audit of requisitions
b. External - Pre -audit of vouchers and warrents
_ - post audit of disbursements and receipts
!< wc/S Q %vC/"l i (Sec Atcle)
Part of the auditing process performed by local officials -
an internal audit: for example -
Each disbursement is approved only when it has been
authorized by law, supported by approv d invoices. A disbursement*
is made in Mounds View when an approve in voice or statement is
received. This still must be reviewed by the governing body or
audited by the Council. Not only the individual disbursement is
audited by each member of the council (the council signs the claim
slip) but each check is individually signed by the Mayor, Treasurer
and Clerk.
A further audit is made of each disbursement at each council
meeting, that is the auditing of the list of bills, i.e. Civl Defense,
Recreation, Police Department. These are internal audits of all
disbursements - audits conducted every meeting by your elected officials.