FAC Explorer

Audit 345377

FY End
2022-06-30
Total Expended
$20.55M
Findings
36
Programs
8
Organization: State Education Resource Center (CT)
Year: 2022 Accepted: 2025-03-10
Auditor: Whittlesey PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
526433 2022-001 Material Weakness - P
526434 2022-001 Material Weakness - P
526435 2022-001 Material Weakness - P
526436 2022-001 Material Weakness - P
526437 2022-001 Material Weakness - P
526438 2022-001 Material Weakness - P
526439 2022-001 Material Weakness - P
526440 2022-001 Material Weakness - P
526441 2022-001 Material Weakness - P
526442 2022-002 Significant Deficiency - P
526443 2022-002 Significant Deficiency - P
526444 2022-002 Significant Deficiency - P
526445 2022-002 Significant Deficiency - P
526446 2022-002 Significant Deficiency - P
526447 2022-002 Significant Deficiency - P
526448 2022-002 Significant Deficiency - P
526449 2022-002 Significant Deficiency - P
526450 2022-002 Significant Deficiency - P
1102875 2022-001 Material Weakness - P
1102876 2022-001 Material Weakness - P
1102877 2022-001 Material Weakness - P
1102878 2022-001 Material Weakness - P
1102879 2022-001 Material Weakness - P
1102880 2022-001 Material Weakness - P
1102881 2022-001 Material Weakness - P
1102882 2022-001 Material Weakness - P
1102883 2022-001 Material Weakness - P
1102884 2022-002 Significant Deficiency - P
1102885 2022-002 Significant Deficiency - P
1102886 2022-002 Significant Deficiency - P
1102887 2022-002 Significant Deficiency - P
1102888 2022-002 Significant Deficiency - P
1102889 2022-002 Significant Deficiency - P
1102890 2022-002 Significant Deficiency - P
1102891 2022-002 Significant Deficiency - P
1102892 2022-002 Significant Deficiency - P

Programs

ALN Program Spent Major Findings
84.425R Education Stabilization Fund $9.41M Yes 2
84.027A Special Education Grants to States $7.58M - 2
84.425V Education Stabilization Fund $1.34M Yes 2
84.425U Education Stabilization Fund $1.21M Yes 2
93.788 Opioid Str $620,879 Yes 2
84.184F School Safely National Activities $181,673 - 2
84.424 Student Support and Academic Enrichment Program $181,450 - 2
10.560 State Administrative Expenses for Child Nutrition $8,842 - 2

Contacts

Name Title Type
SCJ6ANVTELE8 Jim Fried Auditee
8606321485 Thomas Goldfuss Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures 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. De Minimis Rate Used: N Rate Explanation: Under agreement with the State of Connecticut Department of Education, SERC applies a restricted indirect cost rate of 29.00% to restricted programs and 25.14% unrestricted indirect cost rate to other programs. cost rate. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federalaward activity of State Education Resource Center (“SERC”) under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of SERC, it is not intended to and does not present the net position, changes in net position, or cash flows of SERC. Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Under agreement with the State of Connecticut Department of Education, SERC applies a restricted indirect cost rate of 29.00% to restricted programs and 25.14% unrestricted indirect cost rate to other programs. cost rate.

Finding Details

Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-001
Financial Reporting – Material Weakness Criteria An accounting system and effective internal control environment should support the preparation of the financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”) and grant reports in accordance with Federal and State compliance requirements, including a robust financial close process at year end. Condition In fiscal year 2022, SERC’s accounting processes and internal controls over financial reporting were not functioning timely to support generating complete and accurate financial information. The books and records were not closed and finalized timely. Numerous adjustments to the trial balances were made, necessitating revisions to account reconciliations, and grant schedules. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. Effect The books and records were not closed and finalized until many months after year end. Context SERC’s accounting processes and internal controls over financial reporting were not functioning properly. Recommendation We recommend that SERC maintain appropriately trained and experienced personnel. This will help ensure that the accounting processes and internal controls over financial reporting will function properly, and that the financial close process will be complete, accurate, and timely. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.
Finding 2022-002
Annual Audit Submission – Significant Deficiency Assistance Listing Program Title and Number: All Federal Agency: All Criteria As per the Code of Federal Regulations, Section 200.512 - Report Submission, the audit must becompleted and the Data Collection Form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditors’ report, or nine months after the end of the auditperiod. The due date for the audit and reporting package submission was March 31, 2023. Condition The audit, Data Collection Form and reporting package were not submitted by the due date March 31,2023. Cause SERC experienced staffing shortages and related difficulties during the fiscal year. As such, SERCwas not able to timely prepare for the audit in order for the Uniform Guidance, Data Collection Formand reporting package to be filed by the due date. Effect The audit, Data Collection Form and federal reporting package were not filed on time. Questioned Costs Unknown Context SERC was unable to complete the financial statements and Federal Single Audit by the due date. Recommendation We recommend that all necessary efforts be taken to ensure timely submission of the audit, DataCollection Form and reporting package. Management’s Response/View of Responsible Officials Management agrees with this finding, see the Corrective Action Plan.