Finding Text
CRITERIA: Federal regulations require the grant recipient to maintain
appropriate records and source documentation to support all costs
paid with federal grant funding, to ensure adequate. CONDITION: We examined a sample of 30 grant expenditures for the SSVF grant program and noted that 12 transactions totaling $38,840 were
incurred that did not have proper supporting documentation. We
also noted the transactions were not accurately recorded to the
proper grant accounts. CAUSE: The Foundation's record retention administrative procedures were
not adequate. EFFECT: We were unable to determine if the grant costs totaling $38,840 were
allowable costs for the SSVF grant program. QUESTIONED COSTS: $38,840 RECOMMENDATION: We recommend that management implement proper record
retention procedures to assure all grant expenditures are supported
by adequate documentation. MANAGEMENT'S
RESPONSE: See management's corrective action plan on pages 31-32.