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WHEREAS, the New Jersey Department of Community Affairs, Division of Local Government Services Notice #92-15 requires that a Corrective Action Plan for the 2005 Municipal Audit be completed and filed with the Clerk or Secretary of the local unit 60 days from the date the audit is received by the Governing Body (October 4, 2007); and

WHEREAS, the Acting Chief Financial Officer has completed and submitted a Corrective Action Plan with the assistance with other Municipal officials affected by the audit recommendations. The Corrective Action Plan is therefore being submitted to the Township Council for their review and approval.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Jackson, County of Ocean, State of New Jersey as follows:

1. That the annexed Corrective Action Plan as prepared by the acting Chief Financial Officer is hereby approved and authorization warranted to submit same to the State of New Jersey-Division of Local Government Services, Federal Clearing House, County of Ocean (Re: CDBG Grant) National Recognized Municipal Repository Facilities and other interested parties.
2. This resolution shall take effect upon majority affirmative vote of the Jackson Township Council members.
3. Copies of this executed resolution to the Administrator, Chief Financial Officer and Municipal Auditor.

NEW JERSEY DEPARTMENT OF COMMUNITY AFFAIRS

DIVISION OF LOCAL GOVERNMENT SERVICES

CORRECTIVE ACTION PLAN AUDIT YEAR ENDING DECEMBER 2006

AS PER NJ LOCAL FINANCE NOTICE 92-15 ATTACHED PLEASE FIND THE CORRECTIVE ACTION PLAN AS PREPARED FOR THE 2006 AUDIT

JACKSON TOWNSHIP OCEAN COUNTY DATE: November 8, 2007

6-01 That court increase internal control procedures.

ANALYSIS: Deposit transactions were not efficiently maintained regularly in a manner in which discrepancies with the deposit would not be detected until a later date.

CORRECTIVE ACTION: Deposit slips will be verified immediately following each deposit. Also, the deposit process involves 2 people.

IMPLEMENTATION DATE: Has already been implemented.

6-02 That all interfunds be liquidated prior to year-end.

ANALYSIS: Due to bank interest adjustments some interfunds receivable and payable showed balances at year-end. Interfund balances principally originate from interest earned in other accounts obligated to the Current Fund. Advice of interest earned from year-end accounts for the month of December was not available until the receipt of bank statements occurring in January.