Cleveland County Finance & Purchasing Department

Policies

The intent of written policies is to help all County departments comply with financial regulations and recommendations. The purpose of written policies is to apply consistent principles throughout the County regarding compliance with all financial-related laws, regulations, rules, and other orders from federal, state, and local governments.

County Finance & Internal Control Guidance

Many financial requirements are set by the State of North Carolina in the interest of protecting the public interest. The County intends to comply with all related federal, state, and County requirements to conduct the County's financial business fairly, reasonably, and effectively. Ultimately, it is the responsibility of appropriate elected officials to ensure that the managers who report to them fulfill their responsibility for implementing and maintaining a sound and comprehensive framework of internal control. To verify compliance with all applicable rules and regulations, the County Finance & Purchasing Department follows a number of practices:

• to exercise prudence and integrity in the management of funds and in all financial transactions


• not knowingly sign, subscribe to, or permit the issuance of any statement or report which contains any misstatement or which omits any material fact


• to have a financial reporting system in place that is sufficient to provide reasonable assurance that management can prepare financial statements in conformity with generally accepted accounting principles (GAAP)


• to evaluate whether the County's financial reporting system can detect not only material fraud or abuse, but also any questionable accounting or auditing practices, that could jeopardize the integrity of financial reporting


• to encourage and facilitate the reporting of fraud or abuse and questionable accounting or auditing practices


• to encourage employees to report to the County Finance Director, County Manager, or County Commissioners instances of management override of controls


• to periodically evaluate relevant internal control procedures to verify that those procedures 1) are adequately designed to achieve their intended purpose, 2) have actually been implemented, and 3) continue to function as designed


• to determine what specific actions are necessary to remedy any disclosed weaknesses, in cooperation with appropriate departmental managers or designees, upon completion of any evaluation of internal control procedures

As a rule, a formal internal audit function is particularly valuable for those activities involving a high degree of risk (e.g., complex accounting systems, contracts with outside parties, a rapidly changing environment). The County Finance & Purchasing Department has an internal audit function performed by the Senior Finance Accountant and Finance Accountant. Amongst their many other responsibilities, the two employees assist management in monitoring the design and proper functioning of the comprehensive internal control policies and procedures. In this capacity, the two employees act as an additional level of control and help to improve the government’s overall control environment. The two employees also play a valuable role conducting special investigations and studies.

Telephone: (704) 484-4807

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http://www.ccncgov.com/FinanceD/policies.html
last updated February 6, 2012