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DATE: August 10, 2011 FROM: Heather Kinney TO: Christina Rodriguez, Faculty Internship Coordinator SUBJ: Summer

MGMT 575 Internship with San Bernardino County Auditor-Controller Treasurer/Tax Collector Heather Kinney 909-742-2522 Heatherakinney@yahoo.coom

Currently, I am interning with the San Bernardino County Auditor-Controller Treasurer/Tax Collector (ATC). This government agency provides information in regards to county financial activities as well as managing the county treasury pool, collecting and distributing property taxes and other obligations owed to the county. ATC is dedicated to its taxpayers by providing cost-effective services. There are seven divisions within ATC. I as well as Tobi Babalola, are assigned to intern for Reimbursable Project Section (RPS) which falls under the Auditor Division of ATC. RPS performs internal service and enterprise fund accounting services including annual rate studies, financial reports, and financial statement analysis. Our supervisor, Wayne Shimbaukuro, is the manager of RPS. His staff consists of five accountants who are responsible for preparing the year-end financial statements for various enterprise funds within San Bernardino County. The accountants we work closely with are: Mary-Anne Eliasz, Jai Prasad, Gloria Vasquez, Jim Gillam, and Paul Chapman. Orientation was held on July 7th and was extremely informative. ATC provided each intern with a folder containing all necessary information relevant to the agency. On July 8th, all interns joined for computer training on the financial accounting systems used Mr. Shimbaukuro and I discussed what projects I was expected to have completed within the next 10 weeks. I am to prepare the year-end financial statements for two enterprise funds, Printing Services and 800MHz. I will prepare the Accountants Reports, Notes to the Financial Statements, the Comparative Statement of Net Assets, the Comparative statement of Revenues, Expenses, and Changes in Fund Net Assets, Statement of Cash Flows, and the Schedule of Operations by Cost Center. I expressed my goal for this internship is to take my knowledge of accounting practices and procedures learned through my accounting classes at CSUSB and prepare complete and accurate financial statements. Listed below are my objectives: Objective 1: I will prepare the Accountants Report and the Notes to the Financial Statements using my knowledge from the accounting classes I completed thus far. Objective 2: I will prepare the following financial statements: Comparative Statement of Net Assets, Comparative statement of Revenues, Expenses, and Changes in Fund Net Assets, Statement of Cash Flows, and the Schedule of Operations by Cost Center. I will apply my knowledge of GAAP as well as Governmental Accounting Procedures to help aid me. Objective 3: I will use my work ethic and knowledge there of to ensure all information is complete with accuracy. I have been using my knowledge of accounting procedures and GAAP to help aid me. Both of my intermediate Accounting classes are extremely useful to help guide me in preparing the financial statements. Through these classes I learned how to prepare and present financial statements, how to account for the accruals, deferrals, depreciation, capitalization, and inventory. So far, I have completed auditing and preparing the journal entries for year-end accruals and preparing the journal voucher summaries. Within a week, I will prepare the journal vouchers for the capital assets, depreciation, compensated absenses, and capitalization. Once that is complete I will provide RPS with the working trial balance and then prepare the accountants report which will then be reviewed and approved. I have attended two RPS employee staff meetings. I was amazed at how beneficial this was to the RPS team. During both meetings, each employee discussed how their work was coming along. This ensured to keep everybody up to date and clear on the RPS deadlines and work load. ATC holds meetings and events with all seven divisions. These divisions, as a whole, work closely together but on an individual level, not as much. By

holding these meetings and events, it promotes positive team work and unity to all employees. Through these meetings I have had a chance to network with other employees and managers. My experience interning so far has been satisfying. I am truly grateful to have the opportunity to get hands-on financial reporting experience before I graduate to help prepare me for career.