the municipal secretary desktop reference manual - Southwestern ...

DO insist the real estate tax collector settles the prior year's duplicate prior to being
furnished with the current year's duplicate
DO have all tax and utility rolls regularly reviewed to be certain that all taxables or users
are on these rolls
Fiscal Management Control Policies
DO have bank statements promptly reconciled every month
DO have journals and ledgers promptly posted
DO deposit receipts intact on a regular basis - preferably daily
DO use prenumbered receipts and keep the blank ones under tight security
DO have the governing body authorize the opening of all bank accounts
DON'T sign checks in advance
DON'T draw checks to the order of “cash”
DO have interim audits made whenever anyone who has handled finances retires, resigns,
dies, or otherwise vacates that position
DO be certain that the bonds on officials with access to cash and fiscal records are
sufficient
DO establish and maintain an accounting system which is capable of revealing the
municipality’s true fiscal position
DO have an independent public accounting firm perform the annual audit in accordance
with generally accepted auditing principles and standards
DO take corrective actions or modify the budget when revenue flows are not going as
planned when the budget was prepared and adopted
DO make federal, state and local tax withholding payments promptly to appropriate
officials
DO study the jurisdiction's Social Security contract with the Department of Labor and
Industry and follow it
DON'T forget actuarial studies for the public employee pension trust funds
DO determine the least costly financing method for all new projects and major equipment
acquisitions
VIII-7