Marydel Volunteer Fire Company Investigation FY21-FY23

… iscal training for all fire company leadership. Training should include internal control structures, budget and cash accounting, compliance requirements, and asset 3 | Page management to ensure competent and accountable financial steward …

… ocumented business purposes or itemized receipts.  Written Policy and Procedures: The organization lacks formal accounting and financial reporting policies, leaving no documented process to ensure assets are used only for authorized purpo …

… he machine. This practice introduced internal and external risks associated with cash handling. Due to inconsistent accounting documentation, revenue analysis depended on deposit slips and informal notes within the general ledger system. No fo …

… MDVFC used cash from the main account, later moved to the Ways and Means account, to load the ATM. Due to the lack of accounting schedules or process, the auditor was forced to compile ATM activity. Based on the compiled analysis, $1,700 in cash …

… resident. This assessment was limited because the MDVFC did not meet state regulatory requirements or basic internal accounting standards. 9 | Page Allegation #5: Expenditures: Credit Cards and Bank Accounts AOA received reports …

… d usage. The MDVFC President, serving as a cardholder on multiple accounts, recorded the highest transaction volume, accounting for 41% all activity. This represented 526 of the 1,289 total transactions made by the 10 MDVFC cardholders. Furt …

… of assets, potential personal use of company cards, and non-compliance with governing bylaws. Due to the inadequate accounting records AOA was unable to determine the business purpose of such purchases. (see Exhibit 5-2).  Various types …

… e and ambulance company to obtain a minimum Review-level10 report each year issued by an independent certified public accounting firm. Per the Delaware Administrative Code11, the Commission requires the following documentation to be submitted t …