FAC Explorer

Audit 31293

FY End
2022-06-30
Total Expended
$48.76M
Findings
78
Programs
20
Organization: Prince George's Community College (MD)
Year: 2022 Accepted: 2022-12-13
Auditor: Sb & Company LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
28529 2022-001 Significant Deficiency - P
28530 2022-001 Significant Deficiency - P
28531 2022-001 Significant Deficiency - P
28532 2022-001 Significant Deficiency - P
28533 2022-001 Significant Deficiency - P
28534 2022-001 Significant Deficiency - P
28535 2022-001 Significant Deficiency - P
28536 2022-001 Significant Deficiency - P
28537 2022-001 Significant Deficiency - P
28538 2022-001 Significant Deficiency - P
28539 2022-001 Significant Deficiency - P
28540 2022-001 Significant Deficiency - P
28541 2022-001 Significant Deficiency - P
28542 2022-001 Significant Deficiency - P
28589 2022-001 Significant Deficiency - P
28590 2022-001 Significant Deficiency - P
28591 2022-001 Significant Deficiency - P
28592 2022-001 Significant Deficiency - P
28593 2022-001 Significant Deficiency - P
28594 2022-001 Significant Deficiency - P
33945 2022-001 Significant Deficiency - P
33946 2022-001 Significant Deficiency - P
33947 2022-001 Significant Deficiency - P
33948 2022-001 Significant Deficiency - P
33949 2022-001 Significant Deficiency - P
33950 2022-001 Significant Deficiency - P
33951 2022-001 Significant Deficiency - P
33952 2022-001 Significant Deficiency - P
33953 2022-001 Significant Deficiency - P
33954 2022-001 Significant Deficiency - P
33955 2022-001 Significant Deficiency - P
33956 2022-001 Significant Deficiency - P
33957 2022-001 Significant Deficiency - P
33958 2022-001 Significant Deficiency - P
33959 2022-001 Significant Deficiency - P
33960 2022-001 Significant Deficiency - P
33961 2022-001 Significant Deficiency - P
33962 2022-001 Significant Deficiency - P
33963 2022-001 Significant Deficiency - P
604971 2022-001 Significant Deficiency - P
604972 2022-001 Significant Deficiency - P
604973 2022-001 Significant Deficiency - P
604974 2022-001 Significant Deficiency - P
604975 2022-001 Significant Deficiency - P
604976 2022-001 Significant Deficiency - P
604977 2022-001 Significant Deficiency - P
604978 2022-001 Significant Deficiency - P
604979 2022-001 Significant Deficiency - P
604980 2022-001 Significant Deficiency - P
604981 2022-001 Significant Deficiency - P
604982 2022-001 Significant Deficiency - P
604983 2022-001 Significant Deficiency - P
604984 2022-001 Significant Deficiency - P
605031 2022-001 Significant Deficiency - P
605032 2022-001 Significant Deficiency - P
605033 2022-001 Significant Deficiency - P
605034 2022-001 Significant Deficiency - P
605035 2022-001 Significant Deficiency - P
605036 2022-001 Significant Deficiency - P
610387 2022-001 Significant Deficiency - P
610388 2022-001 Significant Deficiency - P
610389 2022-001 Significant Deficiency - P
610390 2022-001 Significant Deficiency - P
610391 2022-001 Significant Deficiency - P
610392 2022-001 Significant Deficiency - P
610393 2022-001 Significant Deficiency - P
610394 2022-001 Significant Deficiency - P
610395 2022-001 Significant Deficiency - P
610396 2022-001 Significant Deficiency - P
610397 2022-001 Significant Deficiency - P
610398 2022-001 Significant Deficiency - P
610399 2022-001 Significant Deficiency - P
610400 2022-001 Significant Deficiency - P
610401 2022-001 Significant Deficiency - P
610402 2022-001 Significant Deficiency - P
610403 2022-001 Significant Deficiency - P
610404 2022-001 Significant Deficiency - P
610405 2022-001 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $8.75M Yes 1
84.002 Adult Education - Basic Grants to States $1.24M - 1
84.007 Federal Supplemental Educational Opportunity Grants $607,235 Yes 1
84.048 Career and Technical Education -- Basic Grants to States $547,357 - 1
84.042 Trio_student Support Services $415,280 - 1
84.425 Education Stabilization Fund $311,912 - 1
84.047 Trio_upward Bound $270,763 - 1
84.031 Higher Education_institutional Aid $204,484 - 1
93.566 Refugee and Entrant Assistance_state Administered Programs $190,597 - 1
84.116 Fund for the Improvement of Postsecondary Education $137,965 - 1
84.033 Federal Work-Study Program $102,194 Yes 1
12.903 Gencyber Grants Program $85,496 - 1
20.235 Commercial Motor Vehicle Operator Training Grants $59,280 - 1
12.560 Dod, Ndep, Dotc-Stem Education Outreach Implementation $40,734 - 1
43.008 Education $36,747 - 1
47.076 Education and Human Resources $35,667 - 1
21.009 Volunteer Income Tax Assistance (vita) Matching Grant Program $12,000 - 1
10.574 Team Nutrition Grants $9,710 - 1
84.063 Federal Pell Grant Program $6,943 Yes 1
10.559 Summer Food Service Program for Children $4,864 - 1

Contacts

Name Title Type
LRWAWWNQKR66 Natsha M Walker Auditee
3015467422 Stephen MacKall Auditor
No contacts on file

Notes to SEFA

Accounting Policies: All Federal grant operations of Prince Georges Community College (the College) are included in the scope of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single Auditor or Uniform Guidance). The Single Audit was performed in accordance with the provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance testing of all requirements subject to audit, as described in the Compliance Supplement, was performed for the grant programs noted below. These programs represent Federal award programs for fiscal year 2022 with cash and non-cash expenditures to ensure coverage of at least 20% of Federally granted funds. Actual coverage was 90% of total cash and non-cash Federal award program expenditures. Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The College has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.
Finding 2022-001
Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During the audit, we noted additional time needed by management to draft the financial statements and complete year-end journal entries. There was also a significant audit entry identified after the draft financial statements were provided to us. Criteria: Entities must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Cause: The College experienced transition in a key management position at the end of fiscal year 2022. Effect: A significant adjusting entry was recorded to accurately state the financial statements, and there was a delay in completing the audit. Questioned Costs: None. Recommendation: We recommend that the College review its year-end closing process used for fiscal year 2022. This review would include reviewing the level of detail of the procedures and the roles of those responsible, considering expanding the steps in the checklist for clarity and ease of monitoring, as well revisiting the timeline and management of the timeline during the close process. Management?s Response and Corrective Action Plan Management agrees with the finding. See schedule of corrective action.