The STO continued its proud tradition of conducting quality education programs with a cash management conference April 15-17 at The Resort at Glade Springs near Beckley.
State Treasurer John D. Perdue welcomed more than 100 attendees to this year’s conference titled Derby Days: A Run for the Money.
“We were proud to provide state financial professionals with this unique learning opportunity to become more familiar with the guidelines for the state’s cash handling processes,” said Treasurer Perdue. “I also hoped they embraced our Derby Days theme and had some fun while taking part in this important training.”
The conference is designed to introduce best practices and review guidelines for staff members in state government who handle cash or collect revenue. More than 55 state agencies, including colleges and universities, were be represented at the conference.
One of the most important sessions dealt with Payment Card Industry (PCI) compliance, which ensures that state employees have procedures in place to protect financial data.
“I can’t stress enough the importance of frequent and complete PCI compliance training,” said Misty Price, Deputy Treasurer for Cash Management. “We feel it’s our responsibility to help state financial professionals be as prepared as they can be in this area.” Other conference areas:
· Imprest funds vs. petty cash
· Electronic payment options
· Alternative collections processes
· The wvOASIS enterprise resource planning system
· Unclaimed property reporting procedures
· Fraud protection
· Audit preparedness
· Banking industry trends
In 2011, the West Virginia State Treasurer’s Office took the lead to create and publish a Cash Receipts Handbook for West Virginia Spending Units, after a legislative audit found many West Virginia agencies lack proper internal controls regarding cash handling. Since then, Treasurer Perdue has actively worked with state agencies to improve cash handling procedures.
This is the second Cash Handling Conference hosted by Treasurer Perdue. The first was held in March 2012 at the Waterfront Place Hotel in Morgantown.
A new wrinkle to this year’s event was a mobile application that allowed for instant communication regarding room changes, scheduling updates and other noteworthy information.