Stake Audit automatic OTHER audit exception

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chriswoodut
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Location: Utah

Re: Stake Audit automatic OTHER audit exception

Postby chriswoodut » Mon Aug 26, 2019 2:01 pm

edbrimhallwilson wrote:I understand that a negative balance should trigger an exception....
i suppose I'm too dim to get why having a few bucks in an "other" account
represents an issue, let alone an exception... Not an accountant.


I'm not the original poster, so not sure about their situation. I'm guessing it is because it was in the top level category and not in a sub category labeled for a specific purpose. Our auditor once said having a balance in an Other account is not an exception. However, we received a letter this week to wards in our area with instructions to use the Other account appropriately. Not sure what people are doing to trigger that letter.

russellhltn
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Re: Stake Audit automatic OTHER audit exception

Postby russellhltn » Mon Aug 26, 2019 2:06 pm

edbrimhallwilson wrote:i suppose I'm too dim to get why having a few bucks in an "other" account
represents an issue, let alone an exception... Not an accountant.

Just being positive isn't an issue. However, if the funds are at the "top level", it means they are not earmarked for a specific activity (scout camp, youth activity, whatever). That would be an exception as it goes against policy. You shouldn't have funds that are not earmarked for a purpose.
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gpolson
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Re: Stake Audit automatic OTHER audit exception

Postby gpolson » Mon Aug 26, 2019 2:16 pm

too dim to get why having a few bucks in an "other" account represents an issue, let alone an exception

The particular top level OTHER account is named Authorized Member-Financed Activities:OTHER . Units of the stake can transfer OTHER funds into it such as those for Girls Camp. Once they arrive, the stake transfers those funds down into the Stake Authorized Member-Financed Activities:OTHER: Girls Camp account Theoretically funds in that top level account are not specifically assigned to a purpose. That is the issue the audit computer software picked up on. In reality they were not unassigned. They were just in transition.


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