2016 Audit Results. I. Administrative. II. Reporting

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Elijah Hubert Jones
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1 Audit Results This document reports the results of the 2016 audit for the Sun City Festival Softball Club. The audit was performed by Alan Bannatyne and G. O. Jenson in accordance with club bylaws and was performed utilizing an audit plan/procedures and format developed by prior year auditors. I. Administrative A. Review the Sun City Festival Community Association Chartered Club Rules and Procedures Manual, dated October 1, 2013, and the Sun City Festival Softball Club Bylaws, dated September 16, The HOA CCRP and Club bylaws were reviewed for conformance. As a result of this review, we found no issues or concerns B. Update the steps and procedures in this program as deemed necessary to conform to the HOA CCRP and Club Bylaws. No updates deemed necessary at this time II. Reporting A. Determine if the appropriate forms were submitted to the HOA Lifestyle Director at the appropriate times. Summit Form CC-7, "Financial Report-Semi Annual and Annual Reporting" to the Lifestyle Director no later than January 15th and July 15th. Form CC-7 should be certified by the Softball Club President or Treasurer o Required financial reports for 2016 were submitted to the HOA by the required dates. They were certified by the Club Treasurer Submit Form CC-4, "Semi-Annual Membership Roster to the Lifestyle Director no later than January 15th and July 15th o Membership roster reports were submitted to the HOA by the required dates. The Jan 2017 report was signed by the Club President and the July 2016 report was signed by the Treasurer

2 2 Determine if Form CC-5, "New Club Officers was submitted to the Lifestyle Director as appropriate o Form CC-5 was submitted in January 2017 to report the change of officers for the year It was signed by the new president, Dennis Snell. Determine if Form(s) CC-6, "Accident/Incident Report were recorded and submitted to the Lifestyle Director as appropriate. o There were 5 Accident/Incident Reports filed in These were sent to the Lifestyle Director with copies kept by the Safety Manager o Comment: In early 2016 the SCF Softball Safety Manager defined and implemented the guidelines for determining which incidents need to be reported. Any incident that involves contacting Emergency Medical Services (EMS) such as 911 or SCF local Fire department will require that an Accident/Incident report be completed. These new guidelines were effective in B. Determine that an updated copy of the physical asset inventory was completed by the Treasurer and attached to the mid-year and year-end financial report to the Lifestyle Director. This attachment should include the disposition of old equipment and the acquisition cost, physical description and life expectancy estimate of new equipment. Updated inventories were attached to the required financial reports and submitted to the Lifestyle Director, both in January 2017 and July 2016 C. Obtain the most recent physical inventory completed by the Treasurer for the year being audited. Using this work product as a starting point, review the inventory of all assets over $500 in value, with a life longer than one year, to verify the assets are on hand and the inventory used is accurate. The audit team, using the most recent asset inventory, verified that the assets over $500 in value were on hand plus did a spot check of selected other inventory items to ascertain that the inventory used is accurate. D. Verify that a financial audit is completed annually by two Club members, other than officers, with auditors serving two, one-year terms, one rotating out each year; and that audit results are presented to the general membership and recorded in meeting minutes. A financial audit for the year 2016 was conducted by two Club members, other than Club officers, with auditors serving two year terms, one rotating out each year The 2016 audit was conducted by Alan Bannatyne and G. O. Jenson

3 3 Audit results were presented to the SCF Softball Club board and to the general membership at their March 2017 meeting and recorded in meeting minutes for that meeting No concerns E. Verify that the Treasurer provided members with a financial presentation showing revenues, disbursements and bank account information at club membership meetings, and that the presentations were recorded in meeting minutes. Auditors reviewed the general meeting minutes for each of seven general membership meetings conducted in The minutes recorded the fact that the treasurer provided members with a financial presentation showing revenues, disbursements and bank account information at each meeting Comment: In addition to presenting the current account balance, the total revenues & disbursements since the last meeting and are presented at each meeting. Additionally, each month, the Treasurer prepared an Excel spread sheet entitled SCF Software Monthly Treasury Report for all to see.

4 4 III. Disbursements In 2016, the Club spent $18, The following table summarizes all disbursements for 2016 plus presents the same numbers for 2015 for comparison purposes only Non-Resale Supplies $ 4, $ 5, Awards & Prizes Entertainment 4, , Contract Fees Maintenance 1, Other , Equipment Purchases 1, , Resale Supplies , Total Disbursements $ 13, $ 18, A. Review disbursements for individual expenditures in excess of $500 since the last annual audit. The table below presents the Audit Teams review of all disbursements over $200. This table will be used for the audit steps in this section. Check No. Date Amount Purpose Receipts Signatures Approved in Minutes? Receipt Amount Matches Disbursement Softball Bats for /26/16 $ Tournament Raffle /26/16 $ Ea. Tournament Caps Chili Luncheon at January General Membership /17/16 $ Meeting /05/16 $ Banquet Band - "Like Minds" Food from Indigo Grill for Yes 3* 02/16/16 Yes /10/16 $2, Softball Banquet Wine & Beer from Indigo Yes 3* 02/16/16 Yes /10/16 $ Grill for Softball Banquet 1st American Sports /08/16 $ "Summer" Jerseys Tier I WVSSL 'End of Season' /09/16 $ BBQ 30 Dz. Softballs for Yes 3* 09/13/16 Yes /16/16 $1, Season Field strip marker powder, /17/16 $ paint, & gas

5 /20/16 $ Ice, Food & Drinks Ice, Food, Drinks, Condiments & Grill /28/16 $ incidentals 2 ea. Adidas 'Melee' 34"/27 Oz. Softball Bats; /03/16 $ Balanced & 1 - End Loaded 2 ea Softball Bats; "DeMarini" Flipper Aftermath, 34"/27 Oz. End /12/16 $ Loaded & "Miken" Ultra II, 34"/27 Oz. 36"H x 30"W Aluminum /22/16 $ Bulletin Board /02/16 $ Extra 'Umpire' Jerseys /02/16 $ Community League Jersey's/Festival Realty Sponsor Replace 'Musical Chairs' & 'Pepes World' Jerseys + Matching Caps for the 5 Yes 3* 10/18/16 Yes /02/16 $2, WVSSL teams Blue Crown/Red Visor SCF /02/16 $ Softball Caps Chili Lunch, Soda, Water & /18/16 $ Beer 2 Drag Mats for Infield (3'x4' /02/16 $ & 6'x15') Support Activities of Dysart /02/16 $ High School Baseball Team Note: * one signature on check but Expense Authorization Form on file showing two board member approvals 1. Verify that these expenditures were approved by a majority vote of the general membership as recorded in the minutes of the meeting at which the vote occurred The audit team found four (4) disbursements over $500 in All were discussed at general membership meetings, and motions made and approved for the expenditures. Comments. No Concerns 2. Verify that all checks paying for approved expenses over $500 were approved by two Executive Board members Comment. Verified that all approved expenses over $500 were approved. No Concerns. 3. Review the supporting invoice or other documentation and compare the invoice amount and payee information to the check.

6 6 Receipts were available for the four disbursements over $500. Invoice amount matched check amount in each case No Concerns. B. Review a sample of disbursements of $500 or less made since the last audit (at least 10%). The audit team complied / reviewed supporting invoices or other documentation and compared the invoice amount and payee information to checks for each of the items in the table above. All disbursement amounts matched their associated invoice/receipt No Concerns IV. Income The Club had an Income of $17, in The table below presents a summary view. In reviewing total income to total deposits, these two numbers are equal. All income was deposited. Note: As was the case with expenses, we have included 2015 income amounts for comparison only Contributions $1, $0.00 End of Season Party 1, , Dues 3, , Miscellaneous Income Supplies , Sponsors 1, , Tournament 2015(*) 2, Tournament , WVSSL 1, , Total Income $13, $17, Deposits ($ 13,156.15) ($ 17,744.40) * Some of the income for the Feb 2015 tournament was received in Tournament Income includes both team entry fees + other income for activities at show (50/50 raffle, bat raffle, snack sales, etc.) A. Membership Dues Review the financial records and determine that all member dues have been recorded and deposited into the Club s bank account.

7 7 o For 2016/2017 membership dues, the Club had 117 members who paid $30 each for a total of $3, Four former members paid an additional $ This totals to $3,630. In addition, there was a total of $290 paid for 2015 dues. This total of $3,920 is reflected in deposits to the bank account and also matches the total shown in the Financial Report. Compare the list of people that paid membership dues for the relevant year against the Club s membership Master List. Identify any discrepancies and verify accuracy of the membership dues recorded in the Club s financial records o The Audit Team compared the list of people that paid membership dues for 2016/2017 to the Club s membership Master List dated Dec. 31, The following people are in the Master List but appear to have not paid 2016/2017 dues. All others paid and are accounted for in the Treasurer s documentation and the Club s Master List. Joe Glowacki - (Honorary member with no dues assessed) Mike Cahill No dues paid in 2016 Ken Morgan No Dues paid in 2016 o Master List shows 120 members; financial records reflect 117 paid members with the difference accounted for in the above bullets. No Concerns. The Audit Team is confident that all member dues were recorded and deposited into the Club's bank account. B. Other Income Determine that all income received from other sources, e. g. tournament sponsors, tournament entry fees and the sale of club items, have been recorded in the Club's financial records and deposited into the Club's bank account. o The Club received a total of $13, of income from sources other than membership dues. o The Club followed the same process related to income management for all income types. During the month, all income is entered into Petty Cash. All income in Petty Cash is deposited at month s end. These deposits zero-out Petty Cash at the end of the month o After comparing all income data recorded in the 2016 Monthly Income and Expense to scanned deposit slips in the monthly bank statements, the audit team is confident that 100% of all income was deposited Note: The management of all income, petty cash and deposits continues to be extremely sound from year to year

8 8 V. Bank Reconciliations A. Review bank reconciliations to determine if the Club's bank account is reconciled monthly. The Audit Team reviewed all monthly bank statements. These bank statements were compared to information maintained by the Treasurer and to the information reported at the general meetings No Concerns B. Review all reconciliations since the prior annual audit and determine its accuracy. The audit team reviewed bank records of deposits and checks for each month in Bank records matched Club records and worksheets for all deposits and checks written No Concerns C. Trace cash balances to Club financial records. As cash is collected and disbursed, the Treasurer records these transactions in Receipts and Petty Cash and Payments spreadsheets. Each of these two spreadsheets contains income by month and expenditures by month. All 12 months of bank statements were reviewed and compared to these spreadsheets and the results were 100% accurate, i.e. no discrepancies VI. Record Retention Verify that all financial records are retained for a minimum of seven years. All financial records from the Club s start are kept by the treasurer No Concerns

9 9 VII. Summary The Club treasury (net results) Income Contributions $ 0.00 End of Season Party $ 1, Dues $ 3, Miscellaneous Income $ Supplies $ 1, Sponsors $ 2, Tournament 2016 $ 5, WVSSL $ 2, Total Income $ 17, Expenses Non Resale Supplies $ 5, Awards & Prizes $ Entertainment $ 6, Contract Fees $ Maintenance $ Other $ 1, Equipment Purchases $ 1, Resale Supplies $ 1, Total Expenses $ 18, Net Treasury Increase/Decrease Beginning 2016 balance $ 9, Ending 2016 balance $ 9, Decrease ($ ) This $ decrease in the ending cash balance from the prior year satisfies the revised 2014 chartered club rules which allows a maximum $500 increase to avoid any tax-sharing payments.

10 10 Summary of auditor concerns: Administrative No concerns Reporting No concerns Disbursements No concerns Income No concerns Bank Reconciliations No concerns Record Retention No concerns

COOPERATIVE ORGANIZATIONS THE SCHOOL DISTRICT OF LEE COUNTY

COOPERATIVE ORGANIZATIONS THE SCHOOL DISTRICT OF LEE COUNTY TABLE OF CONTENTS Section Page Number Guidelines 1-3 Annual Checklist 4 Forms and Instructions 5-9 Technical Assistance 10-12 (Non Authoritative/Best