Gas Money
1 day from receipt
What is the time frame available per policy for depositing funds received?
This statewide standard ensures that agencies have internal controls to manage risk and comply with laws.
What is ARMICS (Agency Risk Management and Internal Controls Standards)?
Accurate account coding ensures that financial transactions are posted to this correctly.
What is the general ledger?
A strong vision provides this for an organization, helping guide decisions and priorities.
What is direction?
This word describes when team members work well together, combining strengths to achieve a common goal.
What is collaboration?
Federal, State, and Local
What are the categories of bank accounts for depositing funds?
This foundational component of internal control includes the agency’s tone at the top and ethical values.
What is the control environment?
Using the wrong account code may result in overspending or noncompliance with this.
What is the college budget?
Setting clear, measurable goals helps teams do this with their efforts and resources.
What is focus or align?
Strong teams use this skill to share ideas, solve problems, and avoid misunderstandings.
What is communication?
Required method to secure funds until they are deposited
What is a locked cash drawer, safe, or other secure space?
Agencies must submit this annually to certify compliance with ARMICS standards.
What is the ARMICS Certification Statement?
Proper account coding supports this external function used by auditors, oversight agencies, and stakeholders.
What is financial reporting?
A compelling vision can inspire this in team members, encouraging engagement and persistence.
What is motivation?
Teamwork helps align individual tasks to support this broader organizational direction.
What is a common goal or mission?
All state funds must be deposited into this entity unless otherwise authorized
What is the State Treasurer's account?
This is the written evidence internal controls and risk assessments have been performed
What is ARMICS documentation?
Correct account coding helps maintain this principle by ensuring expenditures align with authorized purposes.
What is internal control?
Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound are known by this acronym.
What is SMART?
When team members trust and rely on each other, it builds this key element of a healthy workplace.
What is a positive team culture or trust?
Agencies must retain deposit documentation for this minimum number of years
What is three years?
This ongoing process ensures that internal controls continue to operate effectively over time.
What is monitoring?
Financial data coded accurately allows managers to perform this activity to make informed decisions.
What is financial analysis or budget monitoring?
Without goals, it’s difficult to do this, which is essential for improvement and accountability.
What is measure progress or evaluate performance?
Teamwork can improve this aspect of work by reducing duplication and using strengths wisely.
What is productivity or efficiency?