Reference	Recommendation	Management Response	Responsible Person	Estimated Completion	Comments
B.4.6	Request that Datatel integrate the credit card machine with the student payment to eliminate duplicate data entry.	Information Technology will discuss this integration process with Datatel.	Bill Carter	December 2000 (discussion)	Change in date
B.4.7	Establish a policy to limit the amount of time a reconciliation item can be carried.	Part of the staledate rules have been written.	Kathy Dinse Leslie Sabin	March 2001	Change in date. Some rules still need to be finalized and put in writing.
B.6.3	Replace the manually intensive requisition process with a purchasing card program.	An RFP has been prepared for distribution to purchasing card vendors in December 2000.	Gilbert Rodriquez	March 2001	Change in date
B.7.1	Financial statements should be prepared and published on a quarterly basis. This task should be reassigned to a general ledger accountant and the controller, rather than the Vice President.	Quarterly financial statements for the Board will continue to be published on a quarterly basis. Transition for the reassignment of this duty to the controller began with the third quarter report in June 2000.	Jerry Miller Leslie Sabin	January 2001

The following items have previously been reported as 'Completed' or 'Rejected.'

B.2.1	Restructure bank accounts to achieve additional interest income.	A new bank account structure has been designed and implements and Chase Bank is sweeping funds nightly into an interest bearing account.		COMPLETED
B.2.2	Reduce chargeback processing fees.	Chase Bank has eliminated all chargeback fees.		COMPLETED
B.2.3	Assign one person to monitor and process chargebacks.	A full-time staff in Student Accounting is assigned this duty.	Cheryl Coe	COMPLETED
B.2.4	Store the image of checks on CD ROM providing access electronically to all staff.	All cancelled checks have been imaged and placed on a CD-ROM. Software has been installed in the Business Office to access the CD-ROM check data.	Kathy Dinse	COMPLETED
B.3.1	Appoint one person to monitor the collateral position on a daily basis.	The Revenue Accounting Manager has been assigned this duty.	Cheryl Coe	COMPLETED
B.3.2	Negotiate with the bank to accept a surety bond in lieu of securities.	Chase Bank agreed to provide a surety bond for collateral in the amount of $5 million.		COMPLETED
B.4.1	Reconcile all bank statements within fifteen days of receipt.	This has been performed monthly since the July statement.	Kathy Dinse	COMPLETED
B.4.2	Develop the automated tools necessary to streamline the bank reconciliation process.	This has been implemented and in operation since April 2000.		COMPLETED
B.4.3	Network business services staff, backup computer files and equip the reconciliation staff with current hardware.	A LAN was installed in May 2000 and is backed up as a segment of the IT college-wide back-up procedures. Reconciliation staff received upgraded computers in July 2000.		COMPLETED
B.4.4	Train the cashier staff and hold them accountable for the money and records they produce.	Cashiers have been trained to read the credit card transmission reports.	Cheryl Coe	COMPLETED
B.4.5	Require the cashiers to validate the Datatel entry against the credit card processor report to ensure accuracy in both systems.	Cashiers complete a reconciliation sheet daily to tie credit card and cash activity to data contained in Datatel system.	Cheryl Coe	COMPLETED
B.4.8	Develop an automated tool to streamline the credit card reconciliation effort.	A program was written allowing for direct download into Excel.		COMPLETED
B.4.9	Download the Datatel session data and process against the bank statements to identify differences.	Session data is downloaded twice weekly. This has reduced reconciliation process.		COMPLETED
B.4.10	No longer accept American Express for charges.	Because American Express refused to change their method of charging fees, the decision was made to stop accepting American Express cards, effective July 10, 2000.		COMPLETED
B.4.11	Ask Discover to assess their merchant discount fees monthly using a separate transaction.	Discover has agreed to process fees monthly instead of daily.		COMPLETED
B.5.1	Write detailed procedures to reconcile general ledger accounts monthly.	Procedures have been developed and implemented.		COMPLETED
B.5.2	Setup a payroll offset account for erroneous entries that will not impact the payroll cash account.	A payroll clearing account was created in July 2000.		COMPLETED
B.5.3	Establish a general ledger closing policy and procedure.	A policy of closing books within two months has been instituted. Back posting to the general ledger is no longer allowed.		COMPLETED
B.6.1	Take cash discounts from vendors when offered.	Accounts Payable staff is aggressively taking cash discounts when offered.		COMPLETED
B.6.2	Transfer the vendor setup process to purchasing.	Purchasing and Accounts Payable have implemented this change.		COMPLETED