Finding Text
2024-002 - Variance in Annual Reporting
Finding Type. Immaterial Noncompliance (Reporting)
Program. Airport Improvement Program; Direct; ALN 20.106
Criteria. Airport Improvement Program grant recipients are required to file a FAA Form 5100-127, Operating and Financial Summary, which captures revenue and expenditures at the Airport, including revenue surplus.
Condition. During our audit, we noted a variance between amounts reported in the Form 5100-127 and amounts recorded in the general ledger and audit report for the related fiscal year. The report was amended during the audit to reflect the correct amounts.
Cause. This condition was the result management not appropriately reconciling the Form 5100-127 to the underlying accounting records.
Effect. As a result of this condition, the Airport did not fully comply with the requirements of the grant award or the Uniform Guidance.
Questioned Costs. No costs have been questioned as a result of this finding, inasmuch as the reporting was deemed to be inaccurate, not the financial records.
Recommendation. We recommend that the Airport reconcile the Form 5100-127 with amounts in the general ledger to ensure that all items on the report are correct.
View of Responsible Officials.