EisnerAmper Recommendations

Phase I

• Record the LPAC December 2025 interest income and validate recurring interest postings going forward.
  Status: Implemented
   
• Perform a stale-dated check review and take appropriate actions; implement monitoring controls.
  Status: Implemented
   
• Standardize monthly reconciliation procedures with documented review/approval checklists and variance thresholds.
  Status: Implemented
   
• Introduce quarterly analytics for cash flow and investment income.
  Status: In Progress
   
• Establish a separate physical bank account for the debt sinking fund.
  Status: In Progress
   

Phase II

• Implement fund-level cash settlement practices.
  Status: In Progress
   
• Reduce reliance on the General Fund as a cash clearing mechanism.
  Status: In Progress
   
• Improve budgetary controls.
  Status: In Progress
   
• Provide regular budget-to-actual reporting.
  Status: Reinstated
   
• Perform cash reconciliations at both the bank and fund level.
  Status: In Progress
   
• Revise payroll accounting practices.
  Status: In Progress
   
• Restructure Self-Insurance Fund accounting.
  Status: In Progress
   
• Enhance Capital Projects oversight.
  Status: In Progress
   

Phase III

• Establish a Revenue Anticipation Note (RAN) or other credit facility.
  Status: In Progress 
   
• Develop a multi-year compensation framework.
  Status: In Progress
   
• Address the structural revenue-expenditure gap.
  Status: In Progress
   
• Implement fund-level cash reconciliation (Phase II recommendation).
  Status: In Progress
   
• Monitor and validate the non-cash adjustment.
  Status: In Progress
   
• Revise Self-Insurance Fund accounting (Phase II recommendation).
  Status: In Progress