Finding Text
Criteria or specific requirement: As a recipient of federal grant funds, the Center is expected to comply with cash management regulations applicable to federal grantees via an established written drawdown policy, in accordance with Title 2 U.S. CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance.Condition and context: The Center did not have an established control process in place in relation to the drawdown of federal funds. Cause: The cause is due to staffing turnover experienced within the Center.Effect or potential effect: Without a policy in place that complies with the Uniform Guidance, the Center may draw down inaccurate or inappropriate federal funds. Recommendation: The Center should establish a written Drawdown Policy that adheres to the Uniform Guidance requirements, which includes a review by the CFO. Views of responsible officials: Refer to the Corrective Action Plan prepared by the Center in regard to this matter.