Report of Stonewall Democrats of Texas Audit Committee Page: 3 of 8
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"minutes"), the Treasurer presented a Quick Books income statement and
reported the ending cash balance at every Board meeting as required by the
FP&P. The monthly income statements were not reviewed because they
were not provided.
Bank Reconciliations - The Treasurer is reconciling cash timely comparing r
the ending balance per the monthly bank statements to the ending balance per
the Quick Book check register per review of the dates the recons were
printed. Ending balances per bank on the recons agreed to the bank statements
without exception. There were no 2008 reconciling items as of 12/31/2008.
2. Review (bank) account statements and cleared items for compliance
with FP&P and accurate inclusion in Treasurer Reports.
Procedures performed - The audit committee reviewed every check
expenditure cleared during the audit period. All cash and check deposits were
reviewed for timeliness of when deposits were made. Al Daniels, Treasurer of
TSDC, maintains a Quick Books check register that was provided to the audit
committee. Twelve months of deposits and checks from this register were tied
back to the bank statements and no exceptions were noted.
Record Retention - Bank Statements
All original bank statements were reviewed. It was noted that bank
statements were being mailed directly to the Treasurer until August 2008
when statements began to be mailed directly to Mike Agan, Assistant
Treasurer for review.
Two signatures obtained on checks over $500 - there was only one check
for over $500 that was not signed by two approved check signers. Check 2045
for $1,000 to the Texas Democratic Party was the exception. However, It was
noted that this expense was approved in the Minutes of 4/27/2008 for
sponsorship of the state convention.
3. Review GPAC Report filings with the Texas Ethics Commission for
timeliness and accuracy. If any changes to signature authority on the
account(s) have occurred during the previous calendar quarter, review
copies of signature cards to ensure that the changes were made to the
signature card(s) on file with the financial institution in a timely manner.
Background - TSDC is registered as a general-purpose political action
committee with the Texas Ethics Commission ("TEC"). Al Daniels, TSDC
Treasurer, is registered with the TEC as the campaign treasurer and is
responsible for filing accurate and timely finance reports with the TEC
throughout the year.Page 2 of 2
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Report of Stonewall Democrats of Texas Audit Committee, report, February 28, 2009; (https://texashistory.unt.edu/ark:/67531/metadc1452279/m1/3/: accessed June 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Special Collections.