Finding Text
Condition: Our test work over the reporting compliance requirement included a sample of financial and performance reports. We noted that one financial report and one performance report did not have a documented review prior to submission.
Criteria: The Uniform Guidance requires organizations to establish internal controls to detect potential noncompliance.
Cause: Policies and procedures regarding retention of review documentation were not consistently applied.
Effect: Noncompliance with adequate review over required financial and program reports.
Recommendation: We noted that management established procedures to document the review and approval of the required financial and performance reports toward the end of the fiscal year. We recommend those procedures are consistently applied.
Views of Responsible Officials and Planned Corrective Actions: The Foundation has established a formal review and approval process for all financial and performance reports prior to submission. This process includes requiring documented management review and approval, which will be retained for audit purposes as well as training to be provided to staff involved in grant reporting.