Financial Review Meeting

Financial Review Meeting ______

LASFAA Spring 2015 Conference Alexandria, LA March 26, 2015

Minutes by Stephanie Battaglia

Audit Review Period: The audit review period covered January 2014 to December 2014 which fell under the tenure of Past President Jacqueline Lachapelle. Lynette Viskozki was Treasurer.

Reviewers: Lauren Jackson, Lisa Pickering, Stephanie Battaglia, Shannon Guillory, Jackie Lachapelle, Anna Daigle

Audit Procedure for Cash Receipt: See chart

Audit Procedure for Disbursements: See chart

Bank Statement Review: Chase 2014 bank statements were received and reviewed timely.

Reserve Funds: Year to date reserve funds on Chase bank statement show CD’s and earnings were renewed.

Credit Card: Review of all 2014 Chase statements showed interest earned was $.14. There were no cash advances or late fees. A random selection of credit card charges show all expense forms attached with appropriate signatures and all receipts located.

Other: Willie Pappas scholarship no longer paid out and excess funds were transferred into the Mildred D. Higgins scholarship account.

Recommendations:

1. In order to show proof of inadvertent delays between check dates and deposit dates a suggestion was made to copy the postmark on envelopes received. 2. All stipend requests should be signed by the Treasurer as well as the President.

1 Spring 2015 Financial Review January 2014 to December 2014

DATE TRANSACTION AMOUNT DESCRIPTION RESULT TYPE

All checks date stamped 6/10/14. Deposit date is 6/12/14. Timely deposit reflected in bank statement. Excessive amount of time between check date and received date. Bank statement 3 checks: BRCC, check date 4/24/14 date ending 6/30/14 does indicate a deposit on 6/12/14 for $470. $30, LSUE, check date 4/3/14 $90 We cannot confirm the date a check was mailed nor when conference fees, UNO, check date received by LASFAA. 6/12/14 Deposit $470.00 3/26/14 $350 institutional fee. Recommendation is to copy the envelope postmark date.

Check is date stamped 9/23/14, deposit was next day so within Check from LSUE dated 9/12/14, the 10 day time frame Timely deposit, bank statement ending 9/24/14 Deposit $3160.00 $300 Fall conference registration 9/30/14 reflects deposit of $3160 on 9/24/14.

Expense report submitted by Allison Dering for lodging. Signed by Jackie on 10/10/14. Copy of invoice from Lafayette Hilton Lodging reimbursement for Allison submitted. Bank statement ending 10/31/14 shows check 10/7/14 Check #1298 $54.50 Dering. number 1298 in the amount of $54.50. Timely.

Invoice dated 10/8/14 and signed by Shannon on 10/8/14, Travel expense claim form for credit purchase shows on credit card statement dated 10/12/14. card charge at LA Hot Stuff (state gift Payment by check shows as cleared on bank statement dated for SWASFAA and speaker gift). Two 10/31/14. Per credit card statement purchase shows as paid on 10/8/14 Credit card $164.70 items totaling $82.35. 10/30/14. All timely.

Expense form, letter to school and copy of check were all 9/24/14 Expense Form $500.00 ULL MDH Scholarship attached. No findings for scholarship fund.