Audit 349331

FY End
2024-06-30
Total Expended
$1.07M
Findings
12
Programs
4
Year: 2024 Accepted: 2025-03-27
Auditor: Gilbert CPAS

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
538286 2024-002 - - ABFGHIM
538287 2024-002 - - ABEGMN
538288 2024-002 - - ABEGMN
538289 2024-002 - - ABFGLMN
538290 2024-002 - - ABFGLMN
538291 2024-002 - - ABFGLMN
1114728 2024-002 - - ABFGHIM
1114729 2024-002 - - ABEGMN
1114730 2024-002 - - ABEGMN
1114731 2024-002 - - ABFGLMN
1114732 2024-002 - - ABFGLMN
1114733 2024-002 - - ABFGLMN

Contacts

Name Title Type
R8PTHRL12R62 Megan Lao Auditee
9164335058 Sarah Ellis Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying schedule of expenditures of federal awards of UCSC is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: UCSC allocates certain costs of administration and operations to programs based on Indirect Cost Rates approved by California Department of Education, specific to each of its charters. Accordingly, the UCSC has elected not to use the 10% de minimis indirect cost rate for federal programs for the year ended June 30, 2024.

Finding Details

2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.
2024-002 – IMPROPER CODING AND IDENTIFICATION OF FEDERAL AWARDS Criteria: §200.302 of the Uniform Guidance states that "The financial management system of each non-Federal entity must provide for the following: Identification, in its accounts, of all Federal awards received and expended and the Federal programs under which they were received." Additionally, §200.400 of the Uniform Guidance states that “the accounting practices of the recipient and subrecipient must be consistent with these cost principles and support the accumulation of costs as required by these cost principles, including maintaining adequate documentation to support costs charged to the Federal award.” Finally, §200.508 of the Uniform Guidance states that the auditee must "Prepare appropriate financial statements, including the schedule of expenditures of Federal Awards." As such, it is the auditee's responsibility to identify all federal funding received and is tracked sufficiently to ensure completeness and accuracy of the Schedule of Expenditures of Federal Awards (SEFA). Condition: The SEFA prepared by UCSC was incomplete and inaccurately reported expenditures of federal awards. Additionally, federal expenditures relating to one federal program were coded to the unrestricted resource code. Cause: The SEFA was not sufficiently prepared and reviewed by personnel with adequate knowledge of the requirements of the Uniform Guidance. Effect: The result was that the SEFA was understated by a net amount of $85,363. Additionally, a $218,000 expense reclassification entry identified during the audit was necessary to properly track expenditures of federal awards under a federal resource code. Recommendation: We recommend that UCSC enhance its tracking of federal expenditures within the general ledger and ensure personnel receive frequent Uniform Guidance training to ensure proper tracking and reporting of all federal awards. UCSC’s Corrective Action Plan: Management agrees to enhance the tracking of federal expenditures in the general ledger, conduct frequent Uniform Guidance training for finance personnel, and implement monthly reconciliations of federal grants. A tracking system will be implemented within the general ledger to ensure accuracy and compliance, with monthly reconciliations conducted to align grant expenditures with reporting requirements. Finance personnel will receive ongoing Uniform Guidance training on federal grant coding and SEFA preparation, while the back-office provider will perform monthly reviews to prevent misclassification. Key milestones include implementing the tracking system by March 31, 2025, and initiating monthly expenditure reviews starting April 1, 2025.