| Whether the Rules and Regulations governing the Company Permit for investments by the company? | |
| 2 | Are there any restrictions or limitations for any of such investments? |
| 3 | Do flowcharts exist that document investment processing and identify control procedures? |
| 4 | Are there written policies and procedures that document the flow of investment processing and identify control procedures? |
| 5 | Are there policies and procedures established to ensure investment certificates are received or appropriately reflected in the custodial accounts? |
| 6 | Are investment purchases recorded in the general ledger on the date traded? |
| 7 | Does the documentation easily accessible to all persons needing it to perform their job? |
| 8 | Are policies and procedures established to ensure the acquisition and disposal of investments are properly recorded? |
| 9 | Are the policies and procedures established to ensure the investment income received is recorded properly? |
| 10 | Does investment income earned get recorded on a timely basis? |
| 11 | Are investment earnings credited to the proper fund? |
| 12 | Is the acquisition and disposal of investments authorized by a person with approval authority? |
| 13 | Are investment guidelines formally established and periodically reviewed? |
| 14 | Have authority and responsibility been established for investment opportunity evaluation and purchase? |
| 15 | Has the level and nature of approval required to purchase or sell an investment been established? |
| 16 | Are the following duties generally performed by different people: |
| · Cash flow management, investment transactions, | |
| safeguarding the investments, responsibility for them and recording them? | |
| · Record-keeping functions for securities and income separate from those having access to physical securities, those authorizing security transactions, and those having duties in the cash area? | |
| · Initiating, evaluating, and approving transactions segregated from those for detail accounting, general ledger? | |
| · Monitoring investment market values and performance from those for investment acquisition? | |
| · Maintaining detail accounting records segregated from those for general ledger entries? | |
| · Custodial responsibilities for securities or for other documents evidencing ownership or other rights assigned to an official who has no accounting duties? | |
| 17 | Does a governing body or statute restrict investments by type and/or amount? Can officials override these restrictions with proper authorization? |
| 18 | Are investment certificates and interest coupons sufficiently safeguarded? |
| 19 | Are securities released from the vault only upon authorization of a person responsible for cash flow and for investment transactions? |
| 20 | Is it necessary for more than one person to authorize the release of a security from safekeeping, or to have access to the safe deposit box or vault? |
| 21 | Are individuals with access to securities bonded? |
| 22 | Are securities transported by armored truck? |
| 23 | Are all securities held or registered in the name of the company or the Treasurer if applicable? |
| 24 | Are detail records maintained that include the following information, if applicable, on each evidence of ownership: |
| · Date of acquisition, identification and purchase amount or cost? | |
| · Physical location of item, i.e., safe deposit box, etc.? | |
| · Interest dividend, or income rates and accrual or receipt dates? | |
| · Ownership by fund? | |
| 25 | Do procedures exist for reconciling the detail accounting records with the General Ledger control? |
| 26 | Do specific procedures exist for tracking maturing investments and interest payments? |
| 27 | Is the investment program integrated with the cash management program and expenditure requirements? |
| 28 | Is cash in excess of operating needs invested in accordance with laws and regulations? |
| 29 | For invested funds, is an approved investment policy followed to ensure a prudent and average return on capital? |
| 30 | Are investment results monitored for compliance with laws and policies? |
| 31 | Are investment managed by expert personnel? |