Yes
No
Is there a receipt to verify collections for loan repayment and remaining cash were deposited with the implementing agency or the appropriate
commercial bank in a timely manner? (All moneys should be deposited
within 48 hours of collection.)
ο
ο
Is there is a clear separation of duties among village bank management committee members? (For example, treasurer counts and safeguards cash,
secretary/accountant prepares passbook and journal entries, president
reconciles cash and account journal balances.)
ο
ο
Are there two signatures of the management committee on the following:
ο
ο
Reconciliations
ο
ο
Accounting journal
ο
ο
Financial statements
ο
ο
Commercial bank account (if applicable)
ο
ο
Does the management committee receive, sign and date prenumbered receipts each time funds are received from and repaid to an institution?
ο
ο
Does the committee maintain a copy on file?
ο
ο
From a sample of transactions in the bank book and registers, is there proper documentation to support the transaction (receipts, bank statements, passbooks)?
ο
ο
Is ink used?
ο
ο
Are errors struck once through and corrections noted above?
ο
ο
Answer questions in the following section based on a review of village bank bylaws and a sample of internal account loan activity (including loan contracts, passbooks, internal account disbursement forms, individual internal account loan records, and payment activity summary forms).
Tool Set: Agency Audits
311