Finding 1094842 (2024-004)

Significant Deficiency Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-01-09
Audit: 336768
Organization: City of Belmont (NC)

AI Summary

  • Core Issue: The City incorrectly reported total budgeted costs instead of actual expenditures for federal funds.
  • Impacted Requirements: Compliance with 2 CFR 200 and U.S. Department of Treasury reporting guidelines was not met due to inadequate internal controls.
  • Recommended Follow-Up: Management should review and approve all financial reports before submission to ensure accuracy.

Finding Text

3. Federal Award Findings and Questioned Costs Significant Deficiency, Nonmaterial Non-Compliance Reporting U.S. Department of Treasury Program name: COVID-19 – Coronavirus State and Local Fiscal Recovery Funds AL Number: 21.027 Finding 2024-004 Criteria: In accordance with 2 CFR 200, management should have an adequate system of internal control procedures in place to ensure that federal funds expended are properly reported to grantor. According to Part 2: Reporting Requirements of the U.S. Department of Treasury Compliance and Reporting Guidance for State and Local Fiscal Recovery Funds, expenditures that are charged to the program should be adequately reported. Condition: Incurred expenditures were incorrectly reported at total budgeted costs for the program, instead of actual expenditures incurred for reporting period. Payroll system generated expenditures could not be verified. We noted three instances where an employees’ calculated pay could not be substantiated. Context: The annual report submitted incorrectly reported expenditures. Effect: Expenditures incurred were reported incorrectly. Cause: An error was made and the City reported expenditures incorrectly. City internal control procedures did not catch the reporting error. Identification of a Repeat Finding: This is a modified, repeat finding from the immediate previous audit, 2023-006. Questioned Costs: The City reported incorrect expenditures. Reporting will be updated with the next report on or before the due date. This finding represents an internal control issue; therefore, questioned costs are not applicable. Recommendation: The City’s reporting should be reviewed and approved by management prior to submission to ensure accuracy of information. Name of Contact Person: Jared Pyles, Finance Director Views of Responsible Officials and Planned Corrective Actions: The City agrees with this finding and will adhere to the Corrective Action Plan in this audit report.

Categories

Reporting Significant Deficiency Internal Control / Segregation of Duties

Other Findings in this Audit

  • 518400 2024-004
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
10.766 Community Facilities Loans and Grants $4.24M
21.027 Covid-19 - Coronavirus State and Local Fiscal Recovery Funds $692,649
20.600 State and Community Highway Safety $22,884
16.738 Edward Byrne Memorial Justice Assistance Grant Program $22,168
16.922 Equitable Sharing Program $17,223
16.607 Bulletproof Vest Partnership Program $13,381