Internal Audit Checklist

House ___________________________ Date _________

Auditor's Name ___________________________ Quarter __________

This internal audit is designed to be a simple check and balance for the financial manager and the house as a whole. Attached you will find a copy of the new requirements for FMs which went into effect Fall 1998. If you have questions or concerns you may contact Stephenie Petrilla, Assistant Director for Student Management at (650) 723-0778. When you complete this form, please bring it to the Row Office (584 Mayfield Ave, behind Grove-Mayfield House) and make 2 copies. Leave one copy for the Assistant Director for Student Management, post the second in the house and return the original to your Financial Manager. Fall and Winter Quarter Audits are due no later than the 1st Friday of the following Quarter. Spring Quarter Audits are due no later than the Monday following graduation.

Your FM should sit down with you and show you where all their records are. There are five things you should have in front of you when you begin this audit:

1. The house check book
2. The computer where Quickbooks is being used
3. The FMs blue binder (provided by the Row Office in Sept) will 10 tabbed sections
4. The monthly manila file folders (provided by the Row Office in Sept.) which should contain receipts and vendor invoices/statements
5. All bank statements (with cancelled (processed) checks enclosed)

All financial records should be organized and accessible to you. If they are not, please make recommendations below. Use back if necessary.

Bank Statements & Returned Checks

Y / N	Are all monthly bank statements present, starting Sept. 1998? If no, which months should be ordered ______________
Y / N	Are all cancelled checks present and accounted for (cancelled checks should be returned w/ bank statements)? If no, which checks numbers should be ordered? __________________________ Which month did returned checks start? _____________
Y / N	Has anyone beside the FM signed checks? If not, ask the FM if the House and Kitchen managers also have signature authority on the account. Do they? Y / N
Y / N	Does the FM have an ATM card? Is it deposit only? Y / N
Y / N	Are there any ATM or electronic debts appearing on the bank statements?
Y / N	Are there any cash withdrawals appearing on the bank statements?
Y / N	Are receipts and vendor invoices/statements organized and filed in the monthly manila folders?
Y / N	Spot-check receipts/returned checks: Do the amounts and purpose of receipts/checks match what is entered onto the computer?

House Policies

In your FMs, blue FM binder section 5 is for house policies that should have been written up by the staff and inserted here. Please note which of the following are present.

Y / N	Refund policy (including amount to be reserved for fall start up costs)
Y / N N/A	If your house had a surplus over their emergency reserve (look at Sept. bank statement) then there should be a policy about what to do with that money (see requirements sheet)
Y / N	Policy regarding use or requirement of dual signatures on checks
Y / N	If the staff has required dual signatures, is that policy being followed (look at returned checks)

Also in the blue FM binder, the following should be filed. Please note which are present.

Y / N	Section 10: Cook's contract and SOS deposit worksheets (self-ops only)
Y / N	Section 4 or 5: Supplemental Housing Agreement
Y / N	Section 7: Quarterly Board Bills, End Quarter reports from Quickbooks showing budget vs. actual. Note what is missing, or what else you'd like to see included here ________________________________________

Quickbooks

Y / N	Is your FM using Quickbooks to record all financial transactions?
Y / N	Has your FM reconciled the bank statement each month? (When Quickbooks reconciles an account, small black ( check marks appear next to the check amount). Which months need to be done? ______________________
Y / N	Has your FM entered the quarterly budget into Quickbooks? Can s/he produce budget vs. actual reports?
Y / N	Has every resident of your house been entered into Quickbooks as a customer?
Y / N	If so, are board bills being accurately credited to their account?
Y / N	Has everyone in the house paid his or her board bill? If not, does Quickbooks show as outstanding debt? Has the student been placed on hold?

Posting Reports in the House

Y / N

Has your FM posted financial reports in the house?

Any other comments/suggestions for your FM or house staff?

Please email suggestions for improving this form to the Assistant Director of Student Management or to the Row Office (CH.ROW@forsythe).