2024-002 During our testing, we noted there was a lack of approval prior to submission to the funding agency for five financial and three performance reports tested during the audit. Recommendation: We recommend that the organization implement a formal review and approval process for all financial a...
2024-002 During our testing, we noted there was a lack of approval prior to submission to the funding agency for five financial and three performance reports tested during the audit. Recommendation: We recommend that the organization implement a formal review and approval process for all financial and performance reports submitted to the funding agency. This process should include clear guidelines and training for staff to ensure that all reports are reviewed and approved by the designated authority before submission. Additionally, regular audits should be conducted to verify compliance with the documentation requirements. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Formal review and approval process has been created and implemented: Invoicing 1. Accounting Team completes month-end close process 2. Associate Director, Fiscal Grant Management creates monthly expense report in alignment with approved budget and statement of work and submits to Director, Proposal Management 3. Director, Proposal Management reviews, approves, and submits report to Executive Director 4. Executive Director reviews, approves, and submits report to agency for reimbursement Performance reports 1. Director, Proposal Management requests reporting period performance data from Program Operations, Data & Analytics Team and submits report to Executive Director 2. Executive Director reviews, approves, and submits report to agency Name(s) of the contact person(s) responsible for corrective action: Amy Chen, VP, Finance Planned completion date for corrective action plan: Implemented 8/28/2025 The planned corrective action will be completed by 8/28/2025.