FAC Explorer

Finding 1076418 (2022-001)

Material Weakness Repeat Finding
Requirement
ABFLMN
Questioned Costs
-
Year
2023
Accepted
2024-09-30
Audit: 322911
Organization: Bossier Office of Community Services, Inc. (LA)
Auditor: Kolder Slaven and Company LLC

AI Summary

  • Core Issue: Misclassification of revenue and expenses between federal grant funds and duplicate transactions were found during the audit.
  • Impacted Requirements: Lack of reconciliations for grant revenues and expenditures increases the risk of overspending federal funds.
  • Recommended Follow-Up: Monthly reviews and reconciliations of general ledger accounts are necessary for accurate financial reporting.

Finding Text

2022-004 Financial Management Fiscal year finding initially occurred: 2021 CONDITION: While performing our audit procedures for FY 22, there were numerous instances of revenue and expense transactions being miscoded between federal grant program funds and transactions being duplicated between funds. In addition, reconciliations of grant revenues to grant expenditures were not being performed which could lead to over drawing federal funds. RECOMMENDATION: All detailed general ledger account balances should be reviewed and reconciled on a monthly basis to ensure complete and accurate financial information is provided to all users of the financial information. CURRENT STATUS: Not Resolved. See finding 2023-004.

Categories

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Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
93.568 Low-Income Home Energy Assistance $1.59M
10.558 Child and Adult Care Food Program $330,257
93.600 Head Start $129,051
93.569 Community Services Block Grant $121,806
14.218 Community Development Block Grants/entitlement Grants $9,104