Library gets good audit report
But note of caution added
Thursday, June 20, 2013
Missouri River Regional Library (MRRL) received a clean 2012 audit, but auditor recommendations included MRRL board oversight of the library’s finances.
The MRRL board approved the audit at its monthly meeting Tuesday.
Evers and Company, the auditor, suggested that because of the small size of MRRL’s accounting staff, the board should remain “involved in the financial affairs of the Organization to provide oversight and independent review functions.” The CPA also found that MRRL “has deposits at Bank of St. Elizabeth for which there are no securities pledged.” According to the CPA, it is a requirement that municipalities have pledged securities for deposits in excess of normal FDIC insurance coverage.
Evers recommended MRRL address this issue with its financial institutions to comply with state statute. The CPA also recommended that MRRL tag all fixed assets, such as desks and computers, so that they may be easily inventoried. Finally, the CPA recommended the library have a formal accounting manual “to ensure that transactions are treated in a standardized manner and that proper internal control exists in the accounting system.”
In other action at its monthly meeting, the board was told:
• Sandy Daniels, MRRL’s administrative assistant, is retiring. Judy Speidel, a new hire, will replace her.
• Renee Struemph, MRRL’s new public information coordinator, started at the library May 28.
• There was a large turnout for the Summer Reading Kickoff on May 31.
• Staff is dealing with loiterers and what seems to be an increase in homeless visiting the library’s park.
• The board’s capital facilities committee has chosen an engineering firm, with which the committee will negotiate a study to look at the needs of the aging MRRL facility.
• The library foundation will host a bocce ball tournament from 10 a.m. to 5 p.m. July 20 at Prison Brews. The cost is $25 per person and teams are made up of four people.
• The library’s planning committee has approved a strategic plan and the board will vote on the plan at next month’s meeting.
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