Resource 5
THETA PHI ALPHA
ANNUAL AUDIT
Chapter/Colony:As of:
Instructions: Please write or print legibly using black ink. Make one copy of this report. Email the original to the National Office 30 days after the election of new officers, and retain the copy for chapter records. A knowledgeable alumna must perform the audit following the procedures listed below. If you are unable to complete any step in the audit, please explain on page 2 or attach additional sheets if necessary.
* Explain any NO answers in the space provided on page 2 or attach additional sheets if necessary.
STEPS TO BE PERFORMED / Initials / Performed(Yes or No*)
- CASH (University Accounts Only)
A)Review each month’s bank reconciliation. Check the accuracy of the reconciliations. / Yes No
B)Inquire about any odd or unusual item on the bank reconciliations and resolve them. See above comment. / Yes No
C)Where the reconciliations performed on a timely basis? / Yes No
D)Has any cash been deposited in the account? Does it agree with the cash receipts book?
- ACCOUNTS RECEIVABLE
A)Obtain copies of the Monthly Financial Reports sent to the National Office. Determine if the aging of Accounts Receivable on page 2 appears accurate when compared to the collegian's balances recorded in the detail records on Billhighway. / Yes No
B)Determine whether any account with a large, old outstanding balance has had any action taken, and documentation noted, to collect the amount. Attach a current listing of all balances greater than $100 or over 6 months old / Yes No
- ACCOUNTS PAYABLE
A)Select a sample of canceled checks and payments over $250. Do the payments appear to be properly authorized? / Yes No
B)Has the Billhighway username and password been turned over to the new officers? / Yes No
C)Has the Billhighway administrator status been changed for ALL incoming officers? / Yes No
- GENERAL
A)Does the chapter have a budget? / Yes No
B)Does the chapter use the budget to control costs? / Yes No
C)Does the chapter use Expense Reports as a means for reimbursing collegians? / Yes No
D)Does the chapter use a receipt book for cash received from collegians, pledge sisters, and alumnae? / Yes No
E)Have checks been written in numerical sequence? Are there any checks missing? If yes, have they been voided? / Yes No
F)Are the remaining blank checks in numerical order? Are there any checks missing? If yes, have they been voided? / Yes No
COMMENTARY SECTION (Please refer to step number)
Alumna Name:Title (if any):
Alumna Signature:Phone No.:
E-mail Address: