Finding 1154894 (2024-001)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2024
Accepted
2025-09-24

AI Summary

  • Answer: South Central Medical and Resource Center, Inc. needs to establish formal procedures for bank reconciliations.
  • Trend: Timely reconciliations (within 30 days of month-end) are crucial for financial accuracy and accountability.
  • List: Train staff, ensure management review, and involve the board or finance committee in approvals.

Finding Text

We recommend that South Central Medical and Resource Center, Inc. implement formal procedures requiring the preparation and review of bank reconciliations for all cash accounts within 30 days of month-end. Staff should be trained on these procedures, and reconciliations should be reviewed and approved by management including the board of directors or finance committee to ensure accuracy and accountability.

Corrective Action Plan

Corrective Actions Taken:

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1154895 2024-002
    Material Weakness Repeat
  • 1154896 2024-003
    Material Weakness Repeat
  • 1154897 2024-004
    Material Weakness Repeat
  • 1154898 2024-005
    Material Weakness Repeat
  • 1154899 2024-006
    Material Weakness Repeat
  • 1154900 2024-007
    Material Weakness Repeat
  • 1154901 2024-008
    Material Weakness Repeat
  • 1154902 2024-009
    Material Weakness Repeat
  • 1154903 2024-010
    Material Weakness Repeat
  • 1154904 2024-011
    Material Weakness Repeat
  • 1154905 2024-012
    Material Weakness Repeat
  • 1154906 2024-013
    Material Weakness Repeat
  • 1154907 2024-014
    Material Weakness Repeat
  • 1154908 2024-015
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
93.224 Consolidated Health Centers (community Health Centers, Migrant Health Centers, Health Care for the Homeless, and Public Housing Primary Care) $1.78M
21.027 Coronavirus State and Local Fiscal Recovery Funds $227,330