Finding 1113709 (2022-001)

Material Weakness
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2025-03-26

AI Summary

  • Issue: Grant revenue and expenditures were not recognized in the correct period.
  • Impact: Lack of processes and controls led to prior period adjustments for 2022 reporting.
  • Recommendation: Implement tracking processes to align grant expenditures with receipts and ensure proper cutoff.

Finding Text

During our audit, we noted that grant revenue and expenditures were not properly recognized in the correct period when the District’s grant expenditures were incurred. This is due to the lack of a process and controls necessary to track grant expenditures to grant receipts with proper cutoff. As a result, prior period adjustments were recorded to properly recognize the grant awards in the 2022 reporting period.

Categories

Reporting

Other Findings in this Audit

  • 537267 2022-001
    Material Weakness
  • 537268 2022-001
    Material Weakness
  • 537269 2022-001
    Material Weakness
  • 537270 2022-001
    Material Weakness
  • 537271 2022-001
    Material Weakness
  • 1113710 2022-001
    Material Weakness
  • 1113711 2022-001
    Material Weakness
  • 1113712 2022-001
    Material Weakness
  • 1113713 2022-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
66.458 Clean Water State Revolving Fund $50,301
97.039 Hazard Mitigation Grant $0