Answer: The District lacks effective internal controls for managing federal award expenditures.
Trend: This issue may lead to incomplete or inaccurate financial reporting.
List: Management should implement a robust internal control system to ensure compliance with accounting standards.
Finding Text
The District does not have a system of internal control that would provide management with reasonable assurance that the District's schedule of expenditures of federal awards and related disclosures are complete and presented in accordance with the accrual basis of accounting.