District Resource Guide - Polk County School District
District Resource Guide - Polk County School District
District Resource Guide - Polk County School District
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III.<br />
RMC and/or Official Receipt written in pencil. The obvious<br />
problem here is that dollar amount can be changed after the<br />
amount was agreed to and signed off by both parties.<br />
2. Pre-numbered Documents<br />
Report of Monies Collected forms (RMC) and Official Receipts (OR) are the<br />
two kinds of pre-numbered documents discussed here. Any lost Official<br />
Receipts or Reports of Monies Collected must be reported to Internal<br />
Accounts, and any void pre-numbered receipts must be turned in to<br />
Internal Accounts in accordance with Internal Accounts policies 1.121 and<br />
1.122 (4).<br />
a. Lost or unaccounted for RMC’s and/or OR’s. Pre-numbered<br />
documents are a crucial part of internal control. In order for this<br />
control function to work, all RMC’s and OR’s must be accounted for.<br />
Internal Accounts tracks all RMC’s and OR’s issued. They also track<br />
every RMC and OR that are attached to your school’s deposit report.<br />
b. Not all copies of voided RMC’s and/or OR’s are submitted to Internal<br />
Accounts. All copies of Report of Monies Collected forms and the<br />
white original and blue copies of Official Receipts must be turned<br />
into Internal Accounts.<br />
c. If a RMC is lost by a teacher, they must send a letter to the principal<br />
explaining that the document was lost, date and sign it and then that<br />
letter is sent to Internal Accounts.<br />
d. The financial secretary must keep a log of all RMCs that she issues so<br />
that she can account for all RMCs. If a financial secretary looses a<br />
RMC or OR, she needs to do the same.<br />
e. We all know that mistakes can happen. Internal Audit is concerned<br />
when these “mistakes” happen too often.<br />
What Can Go Wrong?<br />
a. Anyone with access to an RMC and/or OR can collect money, give out one<br />
or both of these forms as a receipt, and then pocket the money. The<br />
person who gave them the money got a receipt and thinks all is fine. They<br />
do not know that this person is destroying the receipt and keeping the<br />
money. If we don’t account for every RMC and OR, we would never know<br />
that this had happened. We have discovered numerous frauds where this<br />
method was used.
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