Finding 1084705 (2024-001)

Finding 2024-001: Lack of Internal Control over Reporting and Noncompliance with Reporting Requirements Federal Agency: U.S. Department of the Treasury Pass through agency: State of Alaska Department of Education and Early Development Federal Programs: Education Stabilization Fund Assistance Listing Number: 84.425 Award Numbers: ER.24.AGSD.01 Award Period: 2024 Type of Finding: Material Weakness in Internal Control over Compliance/Material Noncompliance Criteria: Reporting requirements for the Education Stabilization Fund Program state that a grantee must submit quarterly financial reports within the month following quarter end. Condition and Context: During our testing of reporting requirements, neither of the 2 quarterly reports we reviewed were submitted within the month following the end of each respective quarter. Cause: Lack of internal controls over reporting requirements. Effect: Failure to follow reporting requirements could result in the loss of federal funding. Questioned Costs: None. Repeat Finding: This is a not a repeat finding, Recommendation: We recommend that management comply with all reporting requirements of the Education Stabilization Fund. Management Response: Management concurs with this finding. See Corrective Action Plan.