Contract Compliance at Red Rocks
Our audit did, however, identify several areas for improvement regarding internal controls surrounding event user agreements. Specifically, we noted that management is not always ensuring that all contracts are executed before the events take place. Second, we found that not all invoiced amounts are being properly supported with authorizing documentation. Third, the exclusive ticketing agent has not provided assurance that its system provides reliable ticket sales information. Fourth, Denver Arts & Venues is not using electronic funds transfer for venue use payments. Finally, Denver Arts & Venues personnel are not documenting management decisions when interest penalties are waived.
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