NYC Comptroller - Press Releases

New York City Comptroller William C Thompson, Jr., today issued an audit that found that the New York City Department of Finance (DOF) maintains adequate financial controls over cash receipts collected at its six Business Centers.

“Maintaining a system of strong financial controls over cash receipts collected at its Business Centers provides for the assurance that the City assets are adequately safeguarded,” Thompson said. “Strong financial controls also provide assurance for the accurate, timely, and complete recording and reporting of cash receipts in the City’s financial system and records.”

The Finance Business Centers, the Bronx Parking Violations Center provide a variety of services including collecting payments, issuing vehicle tow releases, and holding parking ticket hearings. The Business Centers are located in: Downtown Manhattan; Jamaica, Queens; St. George, Staten Island; Downtown Brooklyn; and East Tremont and Williamsbridge in the Bronx.

The audit – that can be read at www.comptroller.nyc.gov - covered December 1, 2006, through March 31, 2007. Auditors visited the centers from January 17, 2007 to February 7, 2007. On the days that auditors visited the Business Centers, cash receipts totaling $43.1 million were collected by 39 cashiers. Auditors determined the records were appropriately in shape and accurate, timely, and complete. They determined that DOF maintained an adequate segregation of duties over the handling, processing and reconciliation of cash receipts.

"Finance is committed to safeguarding cash receipts and other payments made to the City, and I'm pleased that the comptroller's audit found that we are achieving that result," said Finance Commissioner Martha Stark. "The public must have confidence in our ability to collect money safely throughout the five boroughs, and I want to thank Comptroller Thompson for producing an audit that reinforces people's confidence in the security of their money."

Business Center	Date of Observation	# Cashiers	Payments by Checks	Payment by Cash	Payments by Credit Card	Total Cash Receipts
Manhattan	1/17/2007	10	$32,610,520	$27,083	$42,717	$32,680,321
Brooklyn	1/30/2007	8	$2,745,530	$48,699	$14,643	$2,808,872
Queens	2/6/2007	11	$3,194,008	$67,503	$17,638	$3,279,150
Staten Island	2/6/2007	3	$1,089,953	$7,399	$4,186	$1,101,538
Bronx, Arthur Ave	2/7/2007	2	$3,081,913	$26,000	$1,886	$3,109,798
Bronx, Williamsbridge	2/7/2007	5	$10,823	$79,336	$23,218	$113,376
Total (% of Total)		39	$42,732,747 *(99.2%)*	$256,020 *(0.6%)*	$104,288 *(0.2%)*	$43,093,055 *(100%)*

The audit noted several minor weaknesses: that DOF did not have formal written policies and procedures to cover all aspects of the cash collections and reporting functions and that DOF did not have a formal business continuity and disaster recovery plan

However, Thompson noted that these findings did not detract from the overall positive finding regarding the controls over cash receipts at the Business Center.

The audit made two recommendations based on those findings. DOF agreed with the recommendations and indicated it already has taken steps to address them.