FINDING - The District did not comply with Federal regulations by maintaining property records to identify the location of equipment funded by the ESF Program, resulting in questioned costs totaling $2,186,066. CRITERIA - Title 2, Section 200.313(d)(1) and (2), Code of Federal Regulations (CFR), requires that property records for equipment be maintained that include various details, such as a descriptions of the property; an identification number; the source of funding for the property (including the Federal award identification number); the location, use, and condition of the property; and any ultimate disposition data including the date of disposal and sales price of the property. Additionally, a physical inventory of the property must be conducted and the results must be reconciled with the property records at least once every 2 years. Title 2, Section 200.1, CFR, defines equipment as tangible personal property, including information technology systems, having a useful life of more than 1 year and a per-unit acquisition cost which equals or exceeds the lesser of the capitalization threshold established by the District or $5,000. According to Board Policy 7450 - Property Inventory, the Superintendent must maintain an adequate and accurate record of all tangible personal property with a value or cost of $1,500 or more. CONDITION - During the 2020-21 through 2023-24 fiscal years, District ESF Program expenditures totaled $14,293,633, including $2,186,066 for capitalized equipment with a value or cost of $1,500 or more. Although we requested, District personnel could not provide any property records that identified the equipment identification number, source of funding, condition, location, or otherwise properly account for the items. Moreover, the District did not conduct physical inventory procedures during the 2022-23 or 2023-24 fiscal years. CAUSE - According to District personnel, due to staff turnover, the property records were not consistently maintained and the physical inventory was not recently conducted. EFFECT - Without effective accountability over equipment purchased with Federal funds, including the maintenance of appropriate property records and periodic physical inventories, there is an increased risk that the equipment may be used for unauthorized purposes. Absent required property records, ESF Program moneys for equipment acquisitions totaling $2,186,066 represent questioned costs. RECOMMENDATION - The District should establish effective accountability over equipment purchased with Federal funds. Such accountability should include the maintenance of required property records based on Federal equipment acquisitions, the conduct of a physical inventory of the equipment, and a reconciliation of the inventory results with the property records at least once every 2 years. In addition, for any unlocated ESF Program equipment items, the District should restore to the FDOE the related questioned costs and contact applicable law enforcement agencies regarding necessary actions to help recover the unlocated equipment. DISTRICT RESPONSE - The District has designated a team from the finance department and operations/maintenance to review and update procedures to account appropriately for the equipment/inventory. These procedures will include a comprehensive inventory count no less than every two years that will be reconciled to records maintained within the District's financial management software.
Information on the federal program: Subject: Education Stabilization Fund – Internal Controls Federal Agency: Department of Education Federal Program: COVID-19 – Education Stabilization Fund Assistance Listing Number: 84.425D, 84.425U Federal Award Numbers: S425D210013, S425U210013 Pass-Through Entity: Indiana Department of Education Compliance Requirement: Equipment and Real Property Management Audit Findings: Material Weakness Criteria: 2 CFR 200.313(d) states in part: "Management requirements. Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. . . ." Condition: An effective internal control system was not in place at the School Corporation in order to ensure compliance with requirements related to the grant agreement and the Equipment and Real Property Management Requirements compliance requirements. Cause: The School Corporation's management had not developed a system of internal controls to ensure compliance with the compliance requirements listed above. Effect: The failure to establish an effective internal control system placed the School Corporation at risk of noncompliance with the grant agreement and the compliance requirements. A lack of segregation of duties within an internal control system could have also allowed noncompliance with the compliance requirements and allowed the misuse and mismanagement of federal funds and assets by not having proper oversight, reviews, and approvals over the activities of the programs. Questioned Costs: There were no questioned costs identified. Context: For two sample items tested, we noted the School Corporation expended approximately $63,000 on roof replacement and $10,000 on an air conditioning unit for the server room, which were all charged to the ESSER II (84.425D) and ESSER III (84.425U) grant awards. It was noted these capital asset acquisitions could not be traced to the capital asset listing for the School Corporation as of June 30, 2024. We noted the acquisitions were properly approved by IDOE in the grant application, management completed a physical inventory in the 2-year audit period, and the assets were properly maintained and safeguarded. Identification as a repeat finding: Yes. See Finding 2022-006 in the prior period audit report. Recommendation: We recommend the School Corporation update the capital asset listing at least annually to include all equipment and real property acquisitions and review for potential capital asset dispositions. The capital asset listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding and has prepared a corrective action plan.
Information on the federal program: Subject: Education Stabilization Fund – Internal Controls Federal Agency: Department of Education Federal Program: COVID-19 – Education Stabilization Fund Assistance Listing Number: 84.425D, 84.425U Federal Award Numbers: S425D210013, S425U210013 Pass-Through Entity: Indiana Department of Education Compliance Requirement: Equipment and Real Property Management Audit Findings: Material Weakness Criteria: 2 CFR 200.313(d) states in part: "Management requirements. Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. . . ." Condition: An effective internal control system was not in place at the School Corporation in order to ensure compliance with requirements related to the grant agreement and the Equipment and Real Property Management Requirements compliance requirements. Cause: The School Corporation's management had not developed a system of internal controls to ensure compliance with the compliance requirements listed above. Effect: The failure to establish an effective internal control system placed the School Corporation at risk of noncompliance with the grant agreement and the compliance requirements. A lack of segregation of duties within an internal control system could have also allowed noncompliance with the compliance requirements and allowed the misuse and mismanagement of federal funds and assets by not having proper oversight, reviews, and approvals over the activities of the programs. Questioned Costs: There were no questioned costs identified. Context: For two sample items tested, we noted the School Corporation expended approximately $63,000 on roof replacement and $10,000 on an air conditioning unit for the server room, which were all charged to the ESSER II (84.425D) and ESSER III (84.425U) grant awards. It was noted these capital asset acquisitions could not be traced to the capital asset listing for the School Corporation as of June 30, 2024. We noted the acquisitions were properly approved by IDOE in the grant application, management completed a physical inventory in the 2-year audit period, and the assets were properly maintained and safeguarded. Identification as a repeat finding: Yes. See Finding 2022-006 in the prior period audit report. Recommendation: We recommend the School Corporation update the capital asset listing at least annually to include all equipment and real property acquisitions and review for potential capital asset dispositions. The capital asset listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding and has prepared a corrective action plan.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.
Finding 2024-004 – Equipment Management (Significant Deficiency and Noncompliance) Information on the Federal Program: Research & Development Cluster-Multiple ALNs Criteria: 2 CFR 200.313(d) states in part: “Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, at a minimum, meet the following requirements; (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage or theft of the property. Any loss, damage or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. Condition: Documentation of a physical inventory performed was not available. Additionally, we noted the University’s equipment listing did not contain all the required information, including an identification number and the source of federal funding for the equipment, outlined in the criteria above. Cause: The University did not perform a physical inventory of assets purchased with federal funds in the last two years. Effect or Potential Effect: The University did not have appropriate documentation that a physical inventory was performed. Questioned Costs: None Repeat Finding – No similar findings identified in the prior year. Recommendation: We recommend the University strengthen its policies and procedures over equipment management to ensure a physical inventory is performed every two years, at a minimum. The equipment listing should include all required information to track capital asset acquisitions purchased with federal funding. Views of Responsible Officials: See Management’s View and Corrective Action Plan included at the end of the report.