tailieunhanh - State of Illinois ILLINOIS POWER AGENCY FINANCIAL AUDIT For the Year Ended June 30, 2009 And For the Year Ended June 30, 2010_part3

NHÀ NƯỚC Illinois Illinois ĐIỆN CƠ QUAN HIỆN KẾT QUẢ CHÍNH PHỦ AUDITNG TIÊU CHUẨN Đối với năm kết thúc ngày 30 tháng Sáu, 2010 05/10 Tìm kiếm: Thiếu Quy trình ngân sách chính thức (tiếp theo) Cơ quan đáp ứng cơ quan đồng ý với phát hiện. Để đảm bảo tất cả các quỹ được chi tiêu và quản lý một cách tài chính chịu trách nhiệm và tất cả các nguồn kinh phí thu thay mặt cho Cơ quan được nộp và gửi vào Kho bạc Nhà nước Quỹ. | STATE OF ILLINOIS ILLINOIS POWER AGENCY CURRENT FINDINGS-GOVERNMENTAL AUDITNG STANDARDS For the Year Ended June 30 2010 10-5 Finding Lack of Formal Budgeting Process continued Agency Response The Agency agrees with the finding. To ensure all funds are spent and managed in a fiscally responsible manner and that all funds collected on behalf of the Agency are remitted and deposited into a State Treasury Fund the Agency has hired a Chief Financial Officer. The Agency hired a Chief Financial Officer who started working at the Agency in January 2011 with primary responsibilities of managing Agency Budgeting Accounting and Financial Reporting functions. The CFO is supported in her work by the Administrative and Regulatory Shared Services Center through an interagency agreement entered into in December 2010. Additionally the CFO has contacted CFO s in other Agency s to request information regarding best practices with regard to Budgeting and fiscal controls. The Agency will enhance its current financial reporting arrangements with the assistance of the Office of Accountability which will assist in the creation of audit compliant processes that support budgeting and reporting. This is trial version STATE OF ILLINOIS ILLINOIS POWER AGENCY CURRENT FINDINGS-GOVERNMENTAL AUDITNG STANDARDS For the Year Ended June 30 2010 10-6 Finding State Funds Improperly Held Outside the State Treasury The Illinois Power Agency Agency improperly allowed State funds to be held in accounts outside the State Treasury without proper statutory authority. In order to determine the activities conducted by the Agency outside of the State treasury we requested information from the Procurement Administrators and the Utilities. As a result we determined as instructed by the Director an estimated 490 000 or more of State funds were held by a Procurement Administrator as of June 30 2010. As of June 30 2009 an estimated 986 000 or more of the State s funds were held by the two Procurement