6/28/2019 4:50:11 PM
Reply
or ReplyNewSubject
Section 5: OPA Board Subject: Fines and Legal Fees Msg# 1050423
|
||||||
I'd suggest full time to launch, and to follow up for all the Mendelsohn recommendations to be implemented, and achieving some consistency. Also to establish coverage of depts which Mendelsohn omitted -- for example memberships and recreation depts.
This could take 6 months or perhaps a year. After that, i suggest part time. Even a variable schedule so there's no pattern of presence and absence. You realize that large organizations like BGE have multiple checking-up kinds of personnel. In addition to the central auditing dept, BGE has extensive checking up going on throughout the departments. There was a Cash Mgmt section of Finance doing its own check-ups, internal checking in the Payroll Unit and the Accounts Payable unit. Cashiers adjacent to appliance sales locations have individual and supervisor balancing of cash drawers. The warehouses have auditors, both on-site, & central. In addition there's internal security employees, including at warehouses. Also clerical personnel in transportation and shops depts. do balancing & control. And there's veery intensive controls and checking at the Calvert Cliffs nuclear generating station. I took helicopter rides there, while doing an audit there. Yes OP is quite different, very much smaller, less elaborate than a large organization. A single position for OP internal auditor should be OK. And there should also be some review with OP supervisors to make sure they are on board with things they can do regarding exercising and maintaining internal controls. I'm not sure whether Mendelsohn did any of such kinds of briefings. Virtually all OC hotels have a night auditor, some even two or more. Balancing everything overnight, 365 days/yr. Tom
|
||||||
|
||||||
For reference, the above message is a reply to a message where: Tom, would this be a full-time position dedicated to internal auditing or could it be part of another finance position that could be justified. Your argument for the need for internal auditing makes sense if you believe that years of unattended to processes will continue as long as OPA hires GMs on a short-term basis. Could you make a case for a position that includes auditing but is not dedicated to it full-time? After all, OPA is not BG&E. Would it be prohibitively expense to hire part-time auditing from a public accounting firm? Just throwing out some ideas for the Budget and Finance Committee, John Viola and the board to consider. |
Calendar |
Special Board Meeting - Board Room
11/21/2024 - 7:00 P.M. 3 days or less away! |
OPA Board Meeting - Golf Clubhouse
11/23/2024 - 9:00 A.M. 3 days or less away! |
OPA Board Meeting - Golf Clubhouse
12/21/2024 - 9:00 A.M. |
OPA Board Meeting - Golf Clubhouse
1/25/2025 - 9: A.M. |
OPA Board Meeting - Golf Clubhouse
2/22/2025 - 9:00 A.M. |