Fair and Expo Cash Handling 2022

Published February 5, 2024

As a money-making County enterprise, Fair and Expo has a higher revenue-related risk- profile than other County departments.

What was found:

We found that Fair and Expo did not have complete policies and procedures to ensure that revenue due to the organization was received and deposited. Fair and Expo had not conducted assessments to document risks in areas such as:

• overall fraud risks,
• segregation of duties within financial processes,
• risks associated with using separate financial information systems, and
• information system user access and transaction authority.

Despite a vulnerable control environment, we did not observe any instances of fraud or theft.

What was recommended:

We recommended that the Fair and Expo Center:

• conduct a fraud risk assessment and implement procedures to address risks.
• outline major financial processes and determine whether any roles are conflicting.
• design efficient reconciliation processes between financial systems.
• document security controls for all financial information systems.

Recommendation update:

At the time of the follow-up, Fair and Expo planned to document a fraud risk assessment and update fiscal procedures. Progress was made on documentation of roles, creating a process to reconcile across financial systems, and improving information security controls including no longer sharing passwords.