123-25 Township of West Orange - 12-31-2023 CAP.pdf

Department: Office of the Comptroller Respondent: John Ditinyak, Director of Finance Responsible Employee(s): John Ditinyak, Director of Finance; Melanie Chavez, Assistant Comptroller Finding Number: 2023-4 (Page 160) 1. Condition: The Petty Cash Fund was not closed out at year end. A balance of $84.97 was still being carried in the General Ledger. 2. Auditor’s Recommendation: That proper procedures be followed for the annual approval and closeout of Petty Cash Funds per N.J.S.A. 40A:5-21. 3. Township Response and Corrective Action: There are two action items needed by the Township to implement this recommendation. The first is that a new resolution should be presented to the Council authorizing the updated Petty Cash Custodians and amounts. If that resolution passes, it must be sent to the Division of Local Government Services for their approval. The second action item is that Petty Cash should be closed out to operations at the end of the year and then reestablished at the start of the succeeding fiscal year. 4. Implementation Date(s): Resolution updating the custodians and making application to the New Jersey Division of Local Government Services – May 6, 2025; Close out Petty Cash to Operations – December 31, 2025.