Cash Handling and Risk Management
( display item 3)
PARKS, FORESTRY AND RECREATION DIVISION – CONTROLS OVER FERRY SERVICE REVENUE NEED STRENGTHENING
January 15, 2010 Auditor General’s Office
Jeffrey Griffiths, C.A., C.F.E.
Auditor General City of Toronto
Why we conducted this audit
The Auditor General’s Annual Audit Work Plan included a review of the City’s major revenue billing, collection and related processes.
The intent in including the audit of revenue sources in the work plan was to systematically address various City revenue streams over a period of time. Up to this point, we have conducted audit work on parking tag revenues. A report on parking tag revenues was issued in January 2010. Further work in progress relates to revenue from land transfer taxes. This report will be issued later in 2010.
Included in our work plan is a review of revenue collected in relation to the Toronto Island ferry service. Ferry services are operated by the Marine Operations Unit, a unit within the Parks, Forestry and Recreation Division.
Due to the fact that much of the revenue collected from ferry service is in the form of cash,