Finding Text
2023-006: Equipment (15.042)
Criteria:
CFR Section 200.313 under the Uniform Guidance requires a physical inventory of property
acquired with federal dollars to be conducted at least once every two years.
Condition:
The District does not have physical inventory procedures in place for equipment purchased
with federal dollars.
Cause:
Management oversight
Effects:
There is an increased risk that funds received for disposal of equipment purchased with
federal dollars would not be retained by the program.
Questioned Costs:
None
Context:
The District was unable to provide support for a physical inventory of equipment purchased
with federal dollars conducted in the last two years.
Repeat Finding:
No
Recommendation:
We recommend the District implement policies and procedures for conducting a physical
inventory of equipment purchased with federal dollars at least once every two years.
Management’s Response:
The District will perform a physical inventory of all equipment purchased with federal dollars.