Answer: The report incorrectly classified $11,451 in grant disbursements instead of cash on hand.
Trend: This misclassification indicates potential issues with financial reporting accuracy.
List: Review and correct the financial report, implement checks to ensure accurate classification in future reports.
Finding Text
The Organization’s annual Federal Financial Report for the period ended July 31, 2024 inaccurately reported $11,451 as grant disbursements that should have been reported as cash on hand.