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File #: 190087    Version: 0 Name:
Type: Resolution Status: ADOPTED
File created: 2/7/2019 In control: CITY COUNCIL
On agenda: Final action: 2/7/2019
Title: Recognizing the City Treasurer's Office under the leadership of City Treasurer Rasheia Johnson and the Reconciliation Task Force for thes reconciliation of the City's Bank accounts.
Sponsors: Councilmember Reynolds Brown, Councilmember Domb, Councilmember Green, Councilmember Blackwell, Councilmember Parker, Councilmember Johnson, Councilmember Quiñones Sánchez, Councilmember Greenlee, Councilmember Gym, Councilmember Taubenberger, Councilmember Bass, Councilmember Oh
Attachments: 1. Signature19008700
Title
Recognizing the City Treasurer's Office under the leadership of City Treasurer Rasheia Johnson and the Reconciliation Task Force for thes reconciliation of the City's Bank accounts.
Body
WHEREAS, Following his 2016 inauguration, Mayor Jim Kenney promptly appointed a new City Treasurer, Rasheia Johnson. Two months into her tenure, Treasurer Johnson hired a new accountant to work on the City's backlog of unreconciled accounts. In November 2016, the City Treasurer's Office (CTO) began a contract with a temporary staff accountant to review the reconciliation process and assist with the reconciliation of the Consolidated Cash account. Thanks to the work that began in November 2016, the Treasurer resumed monthly reconciliations of the Consolidated Cash account for the first time in three years; and

WHEREAS, In August 2017, an unreconciled balance of $40 million was found in the City's Consolidated Cash account, the City's largest bank account. The unreconciled balance was discovered due to the newly implemented reconciliation process. Within three months, a Request for Proposal was circulated for an external accounting consultant. In 2018, CTO engaged Horsey Buckner and Heffler, a nationally recognized accounting firm, to assist the reconciliation process across seven accounts, as well as to develop additional internal controls for the reconciliation process; and

WHEREAS, Additionally, the City formed the Reconciliation Task Force to oversee the reconciliation of City accounts in June 2018. Co-chaired by Treasurer Rasheia Johnson and former Controller Johnathan Saidel, the task force held its first meeting in July 2018 to coordinate the reconciliation plan and to ensure that it was executed in a responsible and expeditious manner. Other members of the Task Force announced at the time of its launch included Jane Slusser, Mayor Kenney's Chief of Staff; Rob Dubow, City of Philadelphia Finance Director; Eric Siegel, Senior Investigator in the Office of the Inspe...

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