Each county legislative body shall, with the advice and assistance of the county auditor and county treasurer, implement an internal control structure to ensure, on a reasonable basis, that all valid financial transactions of the county are identified and recorded accurately and timely. The objectives of the internal control structure shall be to ensure:
Terms Used In Utah Code 17-36-45
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Legislative: when used to describe the powers, duties, or functions of a county commission or council, refers to:
(a)
the power and duty to enact ordinances, levy taxes, and establish budgets; and
(b)
those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the legislative branch of government. See Utah Code 17-50-101
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(a)
the proper authorization of transactions and activities;
(b)
the appropriate segregation of:
(i)
the duty to authorize transactions;
(ii)
the duty to record transactions; and
(iii)
the duty to maintain custody of assets;
(c)
the design and use of adequate documents and records to ensure the proper recording of events;
(d)
adequate safeguards over access to and use of assets and records; and
(e)
independent checks on performance and proper valuation of recorded amounts.
(2)
The state auditor shall evaluate procedures implemented to effectuate this section and shall provide advice and consultation in approving and updating these procedures.
