The Organization has addressed the segregation of duties deficiency by increasing administrative capacity and restructu ring financial workflows to strengthen internal controls in accordance with Uniform Guidance (2 CFR §200.303). Since the audit period, the Organization hired a full-time Administra...
The Organization has addressed the segregation of duties deficiency by increasing administrative capacity and restructu ring financial workflows to strengthen internal controls in accordance with Uniform Guidance (2 CFR §200.303). Since the audit period, the Organization hired a full-time Administrative Assistant who is responsible for entering transactions into Quick Books only after expenses and invoices have been approved, maintaining supporting documentation, and preparing monthly grant-specific tracking spreadsheets to monitor expenditures in real time. The Office Manager reviews and approves transactions , the CFO/COO prints checks , performs reconciliations, and provides supervisory oversight, while the President & CEO independently authorizes disbursements by signing checks and reviews monthly financial and grant reports. This separation of authorization, recording, and disbursement functions , combined with management and Board Finance Committee oversight, provides reasonable assurance that financial transactions are properly approved, accurately recorded, and monitored for compliance with grant and Uniform Guidance requirements .