FAC Explorer

Finding 1089573 (2023-001)

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Requirement
C
Questioned Costs
-
Year
2023
Accepted
2024-12-05
Audit: 331122
Organization: Metropolitan College of New York (NY)
Auditor: Nawrocki Smith LLP

AI Summary

  • Answer: Monthly internal reconciliations were delayed.
  • Trend: This issue may lead to ongoing discrepancies in financial reporting.
  • List: Ensure timely preparation of reconciliations moving forward.

Finding Text

Monthly internal reconciliations were not prepared on a timely basis.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 513131 2023-001
    -
  • 513132 2023-002
    -
  • 513133 2023-002
    -
  • 513134 2023-002
    -
  • 513135 2023-003
    Significant Deficiency
  • 513136 2023-003
    Significant Deficiency
  • 513137 2023-003
    Significant Deficiency
  • 513138 2023-003
    Significant Deficiency
  • 513139 2023-003
    Significant Deficiency
  • 513140 2023-003
    Significant Deficiency
  • 513141 2023-003
    Significant Deficiency
  • 1089574 2023-002
    -
  • 1089575 2023-002
    -
  • 1089576 2023-002
    -
  • 1089577 2023-003
    Significant Deficiency
  • 1089578 2023-003
    Significant Deficiency
  • 1089579 2023-003
    Significant Deficiency
  • 1089580 2023-003
    Significant Deficiency
  • 1089581 2023-003
    Significant Deficiency
  • 1089582 2023-003
    Significant Deficiency
  • 1089583 2023-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $10.45M
84.063 Federal Pell Grant Program $1.91M
17.271 Work Opportunity Tax Credit Program (wotc) $803,614
84.031 Higher Education Institutional Aid $216,523
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $158,099
84.007 Federal Supplemental Educational Opportunity Grants $146,094
84.033 Federal Work-Study Program $117,849