Finding 1074419 (2023-001)

Material Weakness
Requirement
C
Questioned Costs
-
Year
2023
Accepted
2024-09-24

AI Summary

  • Core Issue: A grant drawdown of $75,521 was duplicated, leading to excess funds being drawn from the federal grant.
  • Impacted Requirements: All grant drawdowns must be approved by the President, and there should be a memo to prevent duplicate executions.
  • Recommended Follow-Up: Implement controls to prevent future duplicate drawdowns and ensure proper documentation is in place.

Finding Text

A grant drawdown of $75,521 was taken on December 8, 2023, and duplicated on December 13, 2023. The excess draw was applied against other reimbursable expenses later in the month. Criteria: The President approves all grant drawdowns before they are executed. Cause: No memo is placed on the draw-down authorization to alert staff that it has already been executed. Effect: Excess funds were drawn from the federal grant. Recommendation: Controls should be in place to prevent duplicate drawdowns from grants. Views of Responsible Officials and Planned Corrective Actions: The Organization agrees with the findings and will implement controls to prevent its recurrence.

Categories

Cash Management

Other Findings in this Audit

  • 497977 2023-001
    Material Weakness
  • 497978 2023-002
    Material Weakness
  • 1074420 2023-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
11.011 Ocean Exploration $5.02M