Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
Program Information: Federal Program: Research and Development Cluster Assistance Listing Numbers: Various Federal Agencies: Various Award Year: Various Criteria or requirement: According to 2 CFR 200.313(d)(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, 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. Per Title 2, U.S. Code of Federal Regulations Part 200 (2 CRF 200), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, (Subpart D, Section 200.303), the nonfederal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. Condition found, including facts that support the deficiency identified in the finding and information to provide proper perspective for judging the prevalence and consequences of the finding: During our procedures over management’s process of observing physical inventory of equipment, 2 of our 40 sample sections were found to have been disposed of without being removed from the inventory listing. Both of these pieces of equipment were indicated as counted during the inventory count despite being disposed of prior to the count date. These two pieces of equipment were significantly aged, had no estimated remaining fair market value, and related to grants that had ended several years ago. Therefore, there are no questioned costs related to the missing equipment. Cause and possible asserted effect: The inventory count control was not operating effectively to detect and properly track the missing equipment. Failure to accurately count equipment and to maintain accurate property records may result in the University not properly safeguarding and maintaining equipment in accordance with Federal requirements. Identification of questioned costs and how they were computed: None Sample Statistically Valid: The sample was not intended to be, and was not, a statistically valid sample. Repeat finding from prior year: No Recommendation: We recommend management enhance their internal control processes and training of people performing inventory counts to ensure the data obtained during the inventory count is appropriately reviewed to ensure that count errors are detected and corrected. Views of Responsible Officials: Management agrees with the finding noted in this report. Management has developed a corrective action plan and is in the process of improving processes and internal control systems to ensure that effective controls are in place over federally purchased equipment.
FINDING 2023-002 – EQUIPMENT AND REAL PROPERTY MANAGEMENT (Repeat Finding of 2022-002) Significant Deficiency Federal Programs: Charter Schools – Assistance Listing Number 84.282; Education Stabilization Fund – Assistance Listing Number 84.425 Repeat Finding: This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2022-002. Criteria 2 CFR 200.313(d) contains equipment management requirements which dictate property records entities must maintain and the need for procedures to adequately safeguard and maintain assets acquired with federal funding. Condition The Organization did not retain in their accounting records all the required information. Specifically, the federal award identification number, holder of the title, use, and condition were not listed. The federal participation was assumed based on allocations between fund codes in the general ledger. Additionally, sufficient and appropriate documentation did not exist to support a physical inventory had been completed for all assets once in the last two years. Cause and Effect As described in 2023-001, the Organization has not established a formal process related to federal awards to identify all key compliance requirements and changes in compliance requirements, evaluate risks of noncompliance with these requirements, and respond to such risks of noncompliance through establishing or changing processes and internal controls. Additionally, certain individuals, within a department, responsible for the use of federal funds or maintenance and safeguard of assets acquired with federal funds lacked knowledge of the compliance requirements pertaining to the use of the funds or the maintenance and safeguard of the acquired assets. As a result, adequate documentation was not maintained for equipment acquired with federal funds or to support the performance of a physical inventory occurring within the required time period. Recommendation We recommend the Organization develop a system of internal controls aligned with the applicable compliance requirements to properly track equipment acquisitions in the accounting records and to ensure a physical inventory is appropriately documented when completed. Views of Responsible Officials and Planned Corrective Actions The Organization’s Corrective Action Plan is included on pages 43 and 44.
FINDING 2023-002 – EQUIPMENT AND REAL PROPERTY MANAGEMENT (Repeat Finding of 2022-002) Significant Deficiency Federal Programs: Charter Schools – Assistance Listing Number 84.282; Education Stabilization Fund – Assistance Listing Number 84.425 Repeat Finding: This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2022-002. Criteria 2 CFR 200.313(d) contains equipment management requirements which dictate property records entities must maintain and the need for procedures to adequately safeguard and maintain assets acquired with federal funding. Condition The Organization did not retain in their accounting records all the required information. Specifically, the federal award identification number, holder of the title, use, and condition were not listed. The federal participation was assumed based on allocations between fund codes in the general ledger. Additionally, sufficient and appropriate documentation did not exist to support a physical inventory had been completed for all assets once in the last two years. Cause and Effect As described in 2023-001, the Organization has not established a formal process related to federal awards to identify all key compliance requirements and changes in compliance requirements, evaluate risks of noncompliance with these requirements, and respond to such risks of noncompliance through establishing or changing processes and internal controls. Additionally, certain individuals, within a department, responsible for the use of federal funds or maintenance and safeguard of assets acquired with federal funds lacked knowledge of the compliance requirements pertaining to the use of the funds or the maintenance and safeguard of the acquired assets. As a result, adequate documentation was not maintained for equipment acquired with federal funds or to support the performance of a physical inventory occurring within the required time period. Recommendation We recommend the Organization develop a system of internal controls aligned with the applicable compliance requirements to properly track equipment acquisitions in the accounting records and to ensure a physical inventory is appropriately documented when completed. Views of Responsible Officials and Planned Corrective Actions The Organization’s Corrective Action Plan is included on pages 43 and 44.
FINDING 2023-002 – EQUIPMENT AND REAL PROPERTY MANAGEMENT (Repeat Finding of 2022-002) Significant Deficiency Federal Programs: Charter Schools – Assistance Listing Number 84.282; Education Stabilization Fund – Assistance Listing Number 84.425 Repeat Finding: This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2022-002. Criteria 2 CFR 200.313(d) contains equipment management requirements which dictate property records entities must maintain and the need for procedures to adequately safeguard and maintain assets acquired with federal funding. Condition The Organization did not retain in their accounting records all the required information. Specifically, the federal award identification number, holder of the title, use, and condition were not listed. The federal participation was assumed based on allocations between fund codes in the general ledger. Additionally, sufficient and appropriate documentation did not exist to support a physical inventory had been completed for all assets once in the last two years. Cause and Effect As described in 2023-001, the Organization has not established a formal process related to federal awards to identify all key compliance requirements and changes in compliance requirements, evaluate risks of noncompliance with these requirements, and respond to such risks of noncompliance through establishing or changing processes and internal controls. Additionally, certain individuals, within a department, responsible for the use of federal funds or maintenance and safeguard of assets acquired with federal funds lacked knowledge of the compliance requirements pertaining to the use of the funds or the maintenance and safeguard of the acquired assets. As a result, adequate documentation was not maintained for equipment acquired with federal funds or to support the performance of a physical inventory occurring within the required time period. Recommendation We recommend the Organization develop a system of internal controls aligned with the applicable compliance requirements to properly track equipment acquisitions in the accounting records and to ensure a physical inventory is appropriately documented when completed. Views of Responsible Officials and Planned Corrective Actions The Organization’s Corrective Action Plan is included on pages 43 and 44.
FINDING 2023-002 – EQUIPMENT AND REAL PROPERTY MANAGEMENT (Repeat Finding of 2022-002) Significant Deficiency Federal Programs: Charter Schools – Assistance Listing Number 84.282; Education Stabilization Fund – Assistance Listing Number 84.425 Repeat Finding: This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2022-002. Criteria 2 CFR 200.313(d) contains equipment management requirements which dictate property records entities must maintain and the need for procedures to adequately safeguard and maintain assets acquired with federal funding. Condition The Organization did not retain in their accounting records all the required information. Specifically, the federal award identification number, holder of the title, use, and condition were not listed. The federal participation was assumed based on allocations between fund codes in the general ledger. Additionally, sufficient and appropriate documentation did not exist to support a physical inventory had been completed for all assets once in the last two years. Cause and Effect As described in 2023-001, the Organization has not established a formal process related to federal awards to identify all key compliance requirements and changes in compliance requirements, evaluate risks of noncompliance with these requirements, and respond to such risks of noncompliance through establishing or changing processes and internal controls. Additionally, certain individuals, within a department, responsible for the use of federal funds or maintenance and safeguard of assets acquired with federal funds lacked knowledge of the compliance requirements pertaining to the use of the funds or the maintenance and safeguard of the acquired assets. As a result, adequate documentation was not maintained for equipment acquired with federal funds or to support the performance of a physical inventory occurring within the required time period. Recommendation We recommend the Organization develop a system of internal controls aligned with the applicable compliance requirements to properly track equipment acquisitions in the accounting records and to ensure a physical inventory is appropriately documented when completed. Views of Responsible Officials and Planned Corrective Actions The Organization’s Corrective Action Plan is included on pages 43 and 44.
FINDING 2023-002 – EQUIPMENT AND REAL PROPERTY MANAGEMENT (Repeat Finding of 2022-002) Significant Deficiency Federal Programs: Charter Schools – Assistance Listing Number 84.282; Education Stabilization Fund – Assistance Listing Number 84.425 Repeat Finding: This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2022-002. Criteria 2 CFR 200.313(d) contains equipment management requirements which dictate property records entities must maintain and the need for procedures to adequately safeguard and maintain assets acquired with federal funding. Condition The Organization did not retain in their accounting records all the required information. Specifically, the federal award identification number, holder of the title, use, and condition were not listed. The federal participation was assumed based on allocations between fund codes in the general ledger. Additionally, sufficient and appropriate documentation did not exist to support a physical inventory had been completed for all assets once in the last two years. Cause and Effect As described in 2023-001, the Organization has not established a formal process related to federal awards to identify all key compliance requirements and changes in compliance requirements, evaluate risks of noncompliance with these requirements, and respond to such risks of noncompliance through establishing or changing processes and internal controls. Additionally, certain individuals, within a department, responsible for the use of federal funds or maintenance and safeguard of assets acquired with federal funds lacked knowledge of the compliance requirements pertaining to the use of the funds or the maintenance and safeguard of the acquired assets. As a result, adequate documentation was not maintained for equipment acquired with federal funds or to support the performance of a physical inventory occurring within the required time period. Recommendation We recommend the Organization develop a system of internal controls aligned with the applicable compliance requirements to properly track equipment acquisitions in the accounting records and to ensure a physical inventory is appropriately documented when completed. Views of Responsible Officials and Planned Corrective Actions The Organization’s Corrective Action Plan is included on pages 43 and 44.
FINDING 2023-002 – EQUIPMENT AND REAL PROPERTY MANAGEMENT (Repeat Finding of 2022-002) Significant Deficiency Federal Programs: Charter Schools – Assistance Listing Number 84.282; Education Stabilization Fund – Assistance Listing Number 84.425 Repeat Finding: This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2022-002. Criteria 2 CFR 200.313(d) contains equipment management requirements which dictate property records entities must maintain and the need for procedures to adequately safeguard and maintain assets acquired with federal funding. Condition The Organization did not retain in their accounting records all the required information. Specifically, the federal award identification number, holder of the title, use, and condition were not listed. The federal participation was assumed based on allocations between fund codes in the general ledger. Additionally, sufficient and appropriate documentation did not exist to support a physical inventory had been completed for all assets once in the last two years. Cause and Effect As described in 2023-001, the Organization has not established a formal process related to federal awards to identify all key compliance requirements and changes in compliance requirements, evaluate risks of noncompliance with these requirements, and respond to such risks of noncompliance through establishing or changing processes and internal controls. Additionally, certain individuals, within a department, responsible for the use of federal funds or maintenance and safeguard of assets acquired with federal funds lacked knowledge of the compliance requirements pertaining to the use of the funds or the maintenance and safeguard of the acquired assets. As a result, adequate documentation was not maintained for equipment acquired with federal funds or to support the performance of a physical inventory occurring within the required time period. Recommendation We recommend the Organization develop a system of internal controls aligned with the applicable compliance requirements to properly track equipment acquisitions in the accounting records and to ensure a physical inventory is appropriately documented when completed. Views of Responsible Officials and Planned Corrective Actions The Organization’s Corrective Action Plan is included on pages 43 and 44.
FINDING 2023-002 – EQUIPMENT AND REAL PROPERTY MANAGEMENT (Repeat Finding of 2022-002) Significant Deficiency Federal Programs: Charter Schools – Assistance Listing Number 84.282; Education Stabilization Fund – Assistance Listing Number 84.425 Repeat Finding: This is a repeat finding from the immediately prior audit report. The prior audit finding number was 2022-002. Criteria 2 CFR 200.313(d) contains equipment management requirements which dictate property records entities must maintain and the need for procedures to adequately safeguard and maintain assets acquired with federal funding. Condition The Organization did not retain in their accounting records all the required information. Specifically, the federal award identification number, holder of the title, use, and condition were not listed. The federal participation was assumed based on allocations between fund codes in the general ledger. Additionally, sufficient and appropriate documentation did not exist to support a physical inventory had been completed for all assets once in the last two years. Cause and Effect As described in 2023-001, the Organization has not established a formal process related to federal awards to identify all key compliance requirements and changes in compliance requirements, evaluate risks of noncompliance with these requirements, and respond to such risks of noncompliance through establishing or changing processes and internal controls. Additionally, certain individuals, within a department, responsible for the use of federal funds or maintenance and safeguard of assets acquired with federal funds lacked knowledge of the compliance requirements pertaining to the use of the funds or the maintenance and safeguard of the acquired assets. As a result, adequate documentation was not maintained for equipment acquired with federal funds or to support the performance of a physical inventory occurring within the required time period. Recommendation We recommend the Organization develop a system of internal controls aligned with the applicable compliance requirements to properly track equipment acquisitions in the accounting records and to ensure a physical inventory is appropriately documented when completed. Views of Responsible Officials and Planned Corrective Actions The Organization’s Corrective Action Plan is included on pages 43 and 44.
Finding 2023 - 005 Equipment and Real Property Management - Native Hawaiian Education – Assistance Listing 84.362A Criteria: The School must follow 2 CFR sections 200.313(b) Equipment Management Condition: The School purchased approximately 183 laptop computers for distance learning under the Native Hawaiian Education Grant. The School did not implement appropriate tracking procedures to properly document the use and location of the equipment. This resulted in the laptops not being returned to the School. Context and Cause of Condition: The School failed to implement a process to properly document and inventory equipment purchased with grant funds. In addition, the School did not implement formal policies to lend laptops to students and ensure the School received the laptops back after the students were done using them. Potential Effect: The School did not comply with the Equipment and Real Property Management requirements of the grant and equipment purchased with grant funds are not available for future program use. Questioned Costs: None Recommendation: We recommend management implement a policy that requires all equipment be inventoried and tracked, especially equipment purchased under grant funds. Additionally, the School should establish formal policies and/or agreements with students that requires all School equipment be returned. Views of Responsible Officials: The School concurs with the finding and recommendation. See Corrective Action Plan.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.
2023-096: Perform Complete Physical Inventory Applicable to: University of Virginia-Academic Division Prior Year Finding Number: N/A Type of Finding: Internal Control and Compliance Severity of Deficiency: Significant Deficiency Information System Security Control Family: N/A ALPT or Cluster Name and ALN: Research and Development Cluster (R&D) - Various at the University of Virginia Federal Award Number and Year: Various - 2023 Name of Federal Agency: Various Type of Compliance Requirement - Criteria: Equipment and Real Property Management - 2 CFR § 200.313(d)(2) Known Questioned Costs: $0 The Academic Division has not inventoried 6,810 assets, or 34 percent, of the University’s 19,749 active assets in the past two fiscal periods. The assets not inventoried have a total net book value of approximately $28 million as of June 30, 2023. Academic Division’s policy FIN-034 requires an annual physical inventory of capital assets to properly safeguard assets and maintain fiscal accountability. Additionally, the Academic Division obtains equipment using federal awards, therefore it must comply with Title 2 U.S. Code of Federal Regulations (CFR) § 200.313(d)(2) that requires the Academic Division to take a physical inventory of property and reconcile to the property records at least once every two years. Management attributes the incomplete inventory to the Academic Division’s migration to a new financial system and asset scanner integration issues during the fiscal year. By not performing a complete physical inventory, the University increases the risk of misappropriation of property and may contribute to the inclusion of inaccurate information in the financial system, which could lead to misstatements in the financial statements. The Academic Division should ensure it completes a physical inventory in accordance with its policies and procedures and federal regulations. Views of Responsible Officials: Views of responsible officials are in the report related to their agency, which can be found at www.apa.virginia.gov. In summary, the views of responsible officials in the agency report do not express a disagreement with the finding.