Purchase Solution

Cash Management Controls

Not what you're looking for?

Ask Custom Question

Please respond to the following: For Illinois

Explain three or four state and local cash management controls that are in place in your system.
Do you believe that these controls are necessary? Why or why not?

Purchase this Solution

Solution Summary

The expert examines cash management controls. The four state and local cash management controls are provided.

Solution Preview

1. "The investment officer will maintain a list of financial institutions authorized to provide investment services. The selection process for inclusion on this list will be detailed in the written administrative procedures for investments." - Yes, I believe this control is necessary. The state/city needs to ensure that they are doing business only with banks that meet certain guidelines. This keeps it easier for the government to meet cash management needs in an honest and ethical way.

2. The City of Peoria is empowered to invest in certain types of securities as detailed in 30 ILCS 235/2. Among the authorized investments are:
1. Non-negotiable certificates of deposit and other collateralized evidence of deposits with qualified public depositories
2. Obligations of the U.S. Government, its agencies and instrumentalities. ...

Purchase this Solution

Free BrainMass Quizzes
Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

Operations Management

This quiz tests a student's knowledge about Operations Management

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Introduction to Finance

This quiz test introductory finance topics.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.