Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Findings and Questioned Costs Relating to Federal Awards: Finding No. 2023-001 - Equipment and Real Property Management: Federal Program: Research and Development Cluster Name of Federal Agency: U.S. Department of Health and Human Services Category: Other matters Compliance requirement: F. Equipment and Real Property Management Criteria: 2 CFR section 200.313(d), Equipment Management Requirements, states that: Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. (5) If the non-Federal entity is authorized or required to sell the property, proper sales procedures must be established to ensure the highest possible return. Condition: As a result of our audit procedures, we noted that the last physical inventory of property was taken on July 13, 2021, accordingly, the Foundation should have performed a physical inventory on or before July 13, 2023. Cause: The property inventory was scheduled for the fiscal year ended June 30, 2023, however, due to medical complications of the employee in-charge of fixed assets, the inventory was postponed. Effect: Conducting physical inventory ensures compliance with regulations and helps maintain accountability for the use of federal expenditures, prevents fraud and abuse, and helps identify surplus or underutilized equipment, leading to more efficient allocation of resources. Questioned Cost: None. Context: Since the last property inventory was taken on July 13, 2021, the next property inventory should have been performed on or before July 13, 2023. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: The Foundation should continue monitoring and reviewing guidelines for federal awards under the Research and Development Cluster to ensure it is current on the applicable requirements and changes therein. Also, there should be reminders set to the corresponding personnel to perform the property inventories, at least, every two years.
Federal Agency: U.S. Department of Justice Federal Program Name: DEA Asset Forfeitures Assistance Listing Number: 16.922 Federal Award Identification Number and Year: Unknown Award Period: July 1, 2022 - June 30, 2023 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other Matters Criteria or specific requirement: 2 CFR section 200.313(d)(2) requires that a physical inventory of the property to be taken and the results reconciled with the property records at least once every two years. Condition: Internal controls were not in place to ensure that all compliance requirements per the grant were being met. Questioned costs: None. Context: CLA notes that a physical inventory count was not performed within the last 2 years on 8 of the 8 assets selected for testing. Cause: Procedures were not in place to ensure that a physical inventory count is being performed every 2 years for assets purchased with federal funds. Effect: Failing to complete a physical inventory count of assets purchased with federal funds. Repeat Finding: No. Recommendation: Procedures should be updated to ensure all assets purchased with federal funds go through a physical inventory count every 2 years. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2023-004 Information on the federal program: Subject: Education Stabilization Fund – Equipment and Real Property Management Federal Agency: Department of Education Federal Program: COVID-19 - Education Stabilization Fund Assistance Listing Number: 84.425D Federal Award Numbers and Years (or Other Identifying Numbers): S425D210013 Pass-Through Entity: Indiana Department of Education Compliance Requirement: Equipment and Real Property Management Audit Findings: Material Weakness Criteria: 2 CFR 200.313(d) states in part: "Management requirements. Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. (2) A physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. (3) A control system must be developed to ensure adequate safeguards to prevent loss, damage, or theft of the property. Any loss, damage, or theft must be investigated. (4) Adequate maintenance procedures must be developed to keep the property in good condition. . . ." Condition: An effective internal control system was not in place at the School Corporation in order to ensure compliance with requirements related to the grant agreement and the Equipment and Real Property Management Requirements compliance requirements. Cause: The School Corporation's management had not developed a system of internal controls to ensure compliance with the compliance requirements listed above. Effect: The failure to establish an effective internal control system placed the School Corporation at risk of noncompliance with the grant agreement and the compliance requirements. A lack of segregation of duties within an internal control system could have also allowed noncompliance with the compliance requirements and allowed the misuse and mismanagement of federal funds and assets by not having proper oversight, reviews, and approvals over the activities of the programs. Questioned Costs: There were no questioned costs identified. Context: The School Corporation did not keep a Capital Asset Listing during the audit period. Additionally, we noted no inventory was performed during the audit period. The finding is isolated to the ESSER II (84.425D) grant. Identification as a repeat finding: No. Recommendation: We recommended that the School Corporation's management establish a system of internal controls related to the grant agreement and Equipment and Real Property Management compliance requirements. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding and has prepared a corrective action plan.
Finding No. 2023-004 Significant Deficiency: Equipment and Real Property Management – Compliance and Control Finding ALN 84.425 – COVID-19: Education Stabilization Fund Federal Agency: U.S. Department of Education Pass-Through Entity: Missouri Department of Elementary and Secondary Education Criteria Or Specific Requirement: According to Uniform Guidance, 2 CFR Section 200.313 (d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. Condition: The District did not perform a physical inventory over a two-year period. The District does not have controls in place to ensure bi-annual inventories will be performed to capture equipment purchase with federal funds. Cause: The District did maintain a property and equipment listing for federally funded purchases, however, there was no support a bi-annual inventory was performed. The District has two inventory technicians and equipment is maintained at over sixty locations. The staffing was not sufficient to ensure bi-annual could be completed within the proper timeframe. Effect Or Potential Effect: The District is not in compliance with the Uniform Guidance compliance requirements regarding equipment management. Questioned Costs: Not applicable. Context: No evidence could be obtained to verify a bi-annual inventory was performed. Identification As A Repeat Finding: N/A Recommendation: We recommend that the District implement procedures and controls to ensure bi-annual inventories are performed in accordance with the Uniform Guidance. Views Of Responsible Officials: The District capitalization policy requires a periodic inventory of all capital assets. Inadequate staffing prevented the physical inventory for the fiscal year, but the finance department will seek assistance of an asset services firm for the next fiscal year and thereafter as needed.
Finding No. 2023-004 Significant Deficiency: Equipment and Real Property Management – Compliance and Control Finding ALN 84.425 – COVID-19: Education Stabilization Fund Federal Agency: U.S. Department of Education Pass-Through Entity: Missouri Department of Elementary and Secondary Education Criteria Or Specific Requirement: According to Uniform Guidance, 2 CFR Section 200.313 (d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. Condition: The District did not perform a physical inventory over a two-year period. The District does not have controls in place to ensure bi-annual inventories will be performed to capture equipment purchase with federal funds. Cause: The District did maintain a property and equipment listing for federally funded purchases, however, there was no support a bi-annual inventory was performed. The District has two inventory technicians and equipment is maintained at over sixty locations. The staffing was not sufficient to ensure bi-annual could be completed within the proper timeframe. Effect Or Potential Effect: The District is not in compliance with the Uniform Guidance compliance requirements regarding equipment management. Questioned Costs: Not applicable. Context: No evidence could be obtained to verify a bi-annual inventory was performed. Identification As A Repeat Finding: N/A Recommendation: We recommend that the District implement procedures and controls to ensure bi-annual inventories are performed in accordance with the Uniform Guidance. Views Of Responsible Officials: The District capitalization policy requires a periodic inventory of all capital assets. Inadequate staffing prevented the physical inventory for the fiscal year, but the finance department will seek assistance of an asset services firm for the next fiscal year and thereafter as needed.
Finding No. 2023-004 Significant Deficiency: Equipment and Real Property Management – Compliance and Control Finding ALN 84.425 – COVID-19: Education Stabilization Fund Federal Agency: U.S. Department of Education Pass-Through Entity: Missouri Department of Elementary and Secondary Education Criteria Or Specific Requirement: According to Uniform Guidance, 2 CFR Section 200.313 (d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. Condition: The District did not perform a physical inventory over a two-year period. The District does not have controls in place to ensure bi-annual inventories will be performed to capture equipment purchase with federal funds. Cause: The District did maintain a property and equipment listing for federally funded purchases, however, there was no support a bi-annual inventory was performed. The District has two inventory technicians and equipment is maintained at over sixty locations. The staffing was not sufficient to ensure bi-annual could be completed within the proper timeframe. Effect Or Potential Effect: The District is not in compliance with the Uniform Guidance compliance requirements regarding equipment management. Questioned Costs: Not applicable. Context: No evidence could be obtained to verify a bi-annual inventory was performed. Identification As A Repeat Finding: N/A Recommendation: We recommend that the District implement procedures and controls to ensure bi-annual inventories are performed in accordance with the Uniform Guidance. Views Of Responsible Officials: The District capitalization policy requires a periodic inventory of all capital assets. Inadequate staffing prevented the physical inventory for the fiscal year, but the finance department will seek assistance of an asset services firm for the next fiscal year and thereafter as needed.
Finding No. 2023-004 Significant Deficiency: Equipment and Real Property Management – Compliance and Control Finding ALN 84.425 – COVID-19: Education Stabilization Fund Federal Agency: U.S. Department of Education Pass-Through Entity: Missouri Department of Elementary and Secondary Education Criteria Or Specific Requirement: According to Uniform Guidance, 2 CFR Section 200.313 (d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. Condition: The District did not perform a physical inventory over a two-year period. The District does not have controls in place to ensure bi-annual inventories will be performed to capture equipment purchase with federal funds. Cause: The District did maintain a property and equipment listing for federally funded purchases, however, there was no support a bi-annual inventory was performed. The District has two inventory technicians and equipment is maintained at over sixty locations. The staffing was not sufficient to ensure bi-annual could be completed within the proper timeframe. Effect Or Potential Effect: The District is not in compliance with the Uniform Guidance compliance requirements regarding equipment management. Questioned Costs: Not applicable. Context: No evidence could be obtained to verify a bi-annual inventory was performed. Identification As A Repeat Finding: N/A Recommendation: We recommend that the District implement procedures and controls to ensure bi-annual inventories are performed in accordance with the Uniform Guidance. Views Of Responsible Officials: The District capitalization policy requires a periodic inventory of all capital assets. Inadequate staffing prevented the physical inventory for the fiscal year, but the finance department will seek assistance of an asset services firm for the next fiscal year and thereafter as needed.
Finding No. 2023-004 Significant Deficiency: Equipment and Real Property Management – Compliance and Control Finding ALN 84.425 – COVID-19: Education Stabilization Fund Federal Agency: U.S. Department of Education Pass-Through Entity: Missouri Department of Elementary and Secondary Education Criteria Or Specific Requirement: According to Uniform Guidance, 2 CFR Section 200.313 (d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. Condition: The District did not perform a physical inventory over a two-year period. The District does not have controls in place to ensure bi-annual inventories will be performed to capture equipment purchase with federal funds. Cause: The District did maintain a property and equipment listing for federally funded purchases, however, there was no support a bi-annual inventory was performed. The District has two inventory technicians and equipment is maintained at over sixty locations. The staffing was not sufficient to ensure bi-annual could be completed within the proper timeframe. Effect Or Potential Effect: The District is not in compliance with the Uniform Guidance compliance requirements regarding equipment management. Questioned Costs: Not applicable. Context: No evidence could be obtained to verify a bi-annual inventory was performed. Identification As A Repeat Finding: N/A Recommendation: We recommend that the District implement procedures and controls to ensure bi-annual inventories are performed in accordance with the Uniform Guidance. Views Of Responsible Officials: The District capitalization policy requires a periodic inventory of all capital assets. Inadequate staffing prevented the physical inventory for the fiscal year, but the finance department will seek assistance of an asset services firm for the next fiscal year and thereafter as needed.
Finding No. 2023-004 Significant Deficiency: Equipment and Real Property Management – Compliance and Control Finding ALN 84.425 – COVID-19: Education Stabilization Fund Federal Agency: U.S. Department of Education Pass-Through Entity: Missouri Department of Elementary and Secondary Education Criteria Or Specific Requirement: According to Uniform Guidance, 2 CFR Section 200.313 (d)(2), a physical inventory of the property must be taken and the results reconciled with the property records at least once every two years. Condition: The District did not perform a physical inventory over a two-year period. The District does not have controls in place to ensure bi-annual inventories will be performed to capture equipment purchase with federal funds. Cause: The District did maintain a property and equipment listing for federally funded purchases, however, there was no support a bi-annual inventory was performed. The District has two inventory technicians and equipment is maintained at over sixty locations. The staffing was not sufficient to ensure bi-annual could be completed within the proper timeframe. Effect Or Potential Effect: The District is not in compliance with the Uniform Guidance compliance requirements regarding equipment management. Questioned Costs: Not applicable. Context: No evidence could be obtained to verify a bi-annual inventory was performed. Identification As A Repeat Finding: N/A Recommendation: We recommend that the District implement procedures and controls to ensure bi-annual inventories are performed in accordance with the Uniform Guidance. Views Of Responsible Officials: The District capitalization policy requires a periodic inventory of all capital assets. Inadequate staffing prevented the physical inventory for the fiscal year, but the finance department will seek assistance of an asset services firm for the next fiscal year and thereafter as needed.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
Criteria: 2 CFR 200.313(d)(2) requires the non-Federal entity take a physical inventory of property and reconcile the results with the property records at least once every two years. 2 CFR 200.313(d)(1) requires “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…” Condition: The University did not complete a full physical inventory as required and did not complete a reconciliation of the results to its property records. Additionally, the University did not have a fixed asset tag on 3 equipment items. Context: The University’s Fixed Asset Policy and related procedures require a periodic inventory of property and equipment. In addition, each equipment item is required to have a unique identifier or a fixed asset tag. The University instructed its departments, via an organization-wide communication dated May 3, 2023, to complete an inventory of their property and equipment by May 31, 2023. We noted that a physical inventory was completed for 12 out of 21 departments during the fiscal year ended June 30, 2023. Additionally, a physical inventory for two departments was completed subsequent to June 30, 2023. We further noted that one equipment item acquired with federal awards was transferred to another university, however, the item was improperly included in the University’s property records as of June 30, 2023. In addition, we also selected a non-statistical sample of 5 equipment items to observe and noted 3 items that did not have a unique identifier and were not properly tagged. Cause: Although the University has policies and procedures in place over the physical inventory of property and fixed asset tagging, there was a lack of diligence in complying with the policies and procedures. Effect: Failure to perform physical inventory of property and reconcile the results with the property records at least once every two years and failure to properly tag equipment items resulted in noncompliance with the equipment and real property management requirement. Questioned Costs: None Identification of a repeat finding: N/A. Recommendations: We recommend the University be more diligent in complying with its established policies and procedures for the physical inventory ensuring all departments timely complete the physical inventory and reconcile the results with its property records. The University should also be more diligent in ensuring its equipment items all have unique identifiers or are properly tagged. Views of responsible officials: The HPU Business Office will initiate and ensure the completion and reconciliation of the physical inventory of all fixed assets which were acquired using federal funds at least every two years, to include the tagging of items in accordance with the university’s inventory and fixedasset related policy.
FINDING 2023-007 Subject: Special Education Cluster (IDEA) - Equipment and Real Property Management Federal Agency: Department of Education Federal Program: COVID-19 - Special Education Grants to States Assistance Listings Number: 84.027X Federal Award Number and Year (or Other Identifying Number): 22611-054-ARP Pass-Through Entity: Indiana Department of Education Compliance Requirement: Equipment and Real Property Management Audit Findings: Material Weakness, Other Matters Condition and Context A property record or capital asset listing, which would include a description of the property, a serial number or other identification number, the source of funding for the property (including the federal award identification number (FAIN)), who holds title, the acquisition date, cost of the property, percentage of federal participation in the project costs for the federal award under which the property was acquired, the location, and use and condition of the property is to be maintained for assets purchased that exceed the School Corporation's capitalization threshold. Upon inquiry of the School Corporation in order to review the procedures in place to ensure equipment is properly added to the asset listing, the School Corporation disclosed there were no policies or procedures in place to ensure assets were added. One piece of equipment in the amount of $75,387 purchased with special education funds was identified. The piece of equipment was selected for testing. Although the piece of equipment was properly added to the asset listing, the listing did not include all the required information. The missing information was as follows: the source of funding for the property (including the FAIN), who holds title, 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. The lack of internal controls and noncompliance were systemic issues throughout the audit period. Criteria 2 CFR 200.303 states in part: "The non-Federal entity must: (a) 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. These internal controls should be in compliance with guidance in 'Standards for Internal Control in the Federal Government' issued by the Comptroller General of the United States or the 'Internal Control Integrated Framework', issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). . . ." 2 CFR 200.313(d) states in part: "Management requirements. Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: INDIANA STATE BOARD OF ACCOUNTS 28 WABASH CITY SCHOOLS SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued) (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. . . ." Cause A proper system of internal controls was not designed by management of the School Corporation, which would include segregation of key functions. Embedded within a properly designed and implemented internal control system should be controls consisting of policies and procedures. Policies reflect the School Corporation's management statements of what should be done to effect internal control, and procedures should consist of actions that would implement these policies. Effect Without the proper design or implementation of the components of a system of internal controls, including policies and procedures that provide segregation of duties and additional oversight as needed, the internal control system cannot be capable of effectively preventing, or detecting and correcting, material noncompliance. As a result, asset records did not include all of the required information. Noncompliance with the provisions of federal statutes, regulations, and the terms and conditions of the federal award could result in the loss of future federal funding to the School Corporation. Questioned Costs There were no questioned costs identified. Recommendation We recommended that management of the School Corporation establish a proper system of internal controls and develop policies and procedures to ensure asset records include all the required information. Views of Responsible Officials For the views of responsible officials, refer to the Corrective Action Plan that is part of this report.
FINDING 2023-007 Subject: Special Education Cluster (IDEA) - Equipment and Real Property Management Federal Agency: Department of Education Federal Program: COVID-19 - Special Education Grants to States Assistance Listings Number: 84.027X Federal Award Number and Year (or Other Identifying Number): 22611-054-ARP Pass-Through Entity: Indiana Department of Education Compliance Requirement: Equipment and Real Property Management Audit Findings: Material Weakness, Other Matters Condition and Context A property record or capital asset listing, which would include a description of the property, a serial number or other identification number, the source of funding for the property (including the federal award identification number (FAIN)), who holds title, the acquisition date, cost of the property, percentage of federal participation in the project costs for the federal award under which the property was acquired, the location, and use and condition of the property is to be maintained for assets purchased that exceed the School Corporation's capitalization threshold. Upon inquiry of the School Corporation in order to review the procedures in place to ensure equipment is properly added to the asset listing, the School Corporation disclosed there were no policies or procedures in place to ensure assets were added. One piece of equipment in the amount of $75,387 purchased with special education funds was identified. The piece of equipment was selected for testing. Although the piece of equipment was properly added to the asset listing, the listing did not include all the required information. The missing information was as follows: the source of funding for the property (including the FAIN), who holds title, 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. The lack of internal controls and noncompliance were systemic issues throughout the audit period. Criteria 2 CFR 200.303 states in part: "The non-Federal entity must: (a) 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. These internal controls should be in compliance with guidance in 'Standards for Internal Control in the Federal Government' issued by the Comptroller General of the United States or the 'Internal Control Integrated Framework', issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). . . ." 2 CFR 200.313(d) states in part: "Management requirements. Procedures for managing equipment (including replacement equipment), whether acquired in whole or in part under a Federal award, until disposition takes place will, as a minimum, meet the following requirements: INDIANA STATE BOARD OF ACCOUNTS 28 WABASH CITY SCHOOLS SCHEDULE OF FINDINGS AND QUESTIONED COSTS (Continued) (1) Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. . . ." Cause A proper system of internal controls was not designed by management of the School Corporation, which would include segregation of key functions. Embedded within a properly designed and implemented internal control system should be controls consisting of policies and procedures. Policies reflect the School Corporation's management statements of what should be done to effect internal control, and procedures should consist of actions that would implement these policies. Effect Without the proper design or implementation of the components of a system of internal controls, including policies and procedures that provide segregation of duties and additional oversight as needed, the internal control system cannot be capable of effectively preventing, or detecting and correcting, material noncompliance. As a result, asset records did not include all of the required information. Noncompliance with the provisions of federal statutes, regulations, and the terms and conditions of the federal award could result in the loss of future federal funding to the School Corporation. Questioned Costs There were no questioned costs identified. Recommendation We recommended that management of the School Corporation establish a proper system of internal controls and develop policies and procedures to ensure asset records include all the required information. Views of Responsible Officials For the views of responsible officials, refer to the Corrective Action Plan that is part of this report.