FAC Explorer

Audit 343951

FY End
2024-06-30
Total Expended
$5.96M
Findings
2
Programs
15
Organization: Penns Grove-Carneys Point Regional School District (NJ)
Year: 2024 Accepted: 2025-02-26
Auditor: Ardito and Company LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
524544 2024-001 - Yes N
1100986 2024-001 - Yes N

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $2.72M Yes 0
10.555 National School Lunch Program $1.08M - 1
84.010 Title I Grants to Local Educational Agencies $1.07M - 0
10.553 School Breakfast Program $368,105 - 0
84.027 Special Education_grants to States $246,387 Yes 0
84.367 Improving Teacher Quality State Grants $165,548 - 0
84.365 English Language Acquisition State Grants $85,388 - 0
84.424 Student Support and Academic Enrichment Program $77,444 - 0
93.778 Medical Assistance Program $53,344 - 0
10.582 Fresh Fruit and Vegetable Program $35,481 - 0
10.558 Child and Adult Care Food Program $31,909 - 0
84.173 Special Education_preschool Grants $23,925 Yes 0
10.559 Summer Food Service Program for Children $10,241 - 0
10.185 Local Food for Schools Cooperative Agreement Program $3,422 - 0
10.649 Pandemic Ebt Administrative Costs $3,256 - 0

Contacts

Name Title Type
KF6VTC3BFN31 Christopher Destratis Auditee
8562994250 Anthony Ardito Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Federal Awards are reported using the current financial resources measurement focus and the modified accrual basis ofaccounting. Under this method, revenues are recognized when measurable and available. Measurable means the amount of the transaction can be determined and available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the related fund liability is incurred. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2024-001
Criteria or Specific Requirement: United States Department of Agriculture (USDA) requires that net cash resources for the Child Nutrition Program not exceed three months average expenditures in the food service fund. Condition: Net cash resourses exceeded three months average expenditures. Questioned Costs: N/A Context: Net cash resources of $113,506 exceeded three months average expenditures of $36,122 by $77,384. Effect: Excess profits retained in the food service fund. Cause: Low levels of capital investment over the past four years, increased subsidy rates at the "free" rate of reimbursement for all meals for all children under the age of 18 during COVID-19, additional COVID-19 assistance funds, and supply chain restraints for capital investment. Recommendation: The District should reduce net cash resources by purchasing needed equipment, improve food quality, or take other actions to eliminate the excess cash resources in the food service fund. Views of management and planned corrective actions: The District plans to reduce net cash resources by investing in capital equiment where necessary and allocating direct cost overhead expenditures.
Finding 2024-001
Criteria or Specific Requirement: United States Department of Agriculture (USDA) requires that net cash resources for the Child Nutrition Program not exceed three months average expenditures in the food service fund. Condition: Net cash resourses exceeded three months average expenditures. Questioned Costs: N/A Context: Net cash resources of $113,506 exceeded three months average expenditures of $36,122 by $77,384. Effect: Excess profits retained in the food service fund. Cause: Low levels of capital investment over the past four years, increased subsidy rates at the "free" rate of reimbursement for all meals for all children under the age of 18 during COVID-19, additional COVID-19 assistance funds, and supply chain restraints for capital investment. Recommendation: The District should reduce net cash resources by purchasing needed equipment, improve food quality, or take other actions to eliminate the excess cash resources in the food service fund. Views of management and planned corrective actions: The District plans to reduce net cash resources by investing in capital equiment where necessary and allocating direct cost overhead expenditures.