Audit Committee
Report to the Membership
Spring Convention March 2015
Financial Review Procedures:
• Reconcile general ledger to bank statements 
• Confirmation letters to selected members/vendors to
confirm members’ records match CCATO’s 
• Review seven specific recommendations for improvements
in CCATO accounting controls PENDING
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Commitment and Payment approval
Monthly Budgeting
Reconciliation of advertising revenues
Revised bank reconciliation procedures
Handling of fees for CCATO staff
Management of accounts receivable
Analysis of differences between budget and actual
2014 CCATO PRELIMINARY INCOME STATEMENT
Fund Balance 1/1/14
76,861
Revenue
Dues
Spring Convention
PSATS
Fall Convention
Directory Sales
Interest
Misc Income
Total Revenue
46,815
12,230
8,950
14,135
17,040
215
166
99,551
Expenses
Administrative Expenses
Spring Convention
PSATS
Fall Convention
Directory Expenses
Misc Expenses
Total Expenses
19,287
10,841
13,607
14,288
13,684
4,044
75,750
Change in Fund Balance
23,801
Ending Fund Balance 12/31/14
100,661
FINDINGS
• Cash position is strong (~133% of 2014 expenses)
• Minor adjustment (<$2,000) to general ledger necessary to reconcile with
bank statements
• Confirmation emails showed that a sample of affiliates’ records of
expenses matched CCATO’s records of revenues
• Unable to reconcile 2014 directory ad revenue, as most payments for
directory received in 2013, prior to conversion to Quickbooks
WORK LEFT TO DO
• Confirm full implementation of agreed-upon procedures and
management controls.
• Updated findings expected in Spring 2015.