FAC Explorer

Finding 1156425 (2024-003)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-09-29
Audit: 368709
Organization: Douglass Community Services, Inc. (MO)
Auditor: Gray Hunter Stenn LLP

AI Summary

  • Core Issue: Financial statements needed adjustments to comply with GAAP due to inadequate internal controls.
  • Impacted Requirements: Timely and accurate reconciliations of general ledger accounts, especially cash accounts, were not performed.
  • Recommended Follow-Up: Implement regular bank reconciliations for all accounts to enhance financial reporting accuracy and prevent cash misappropriation.

Finding Text

Condition - Several adjustments were required during the audit process for the financial statement to be in accordance with GAAP Criteria - Adequate internal controls over financial reporting requires close review of all balances to ensure they are in accordance with GAAP. Cause - The deficiency is the result of the lack of reconciliations of general ledger accounts in a timely and accurate manner and in particular cash accounts. During the last half of the fiscal year, the Agency did not perform complete bank reconciliations for all of its bank accounts. Effect - Reconciliation of accounts are a necessary control to prevent or detect misappropriation of cash or misstatements in financial reporting.

Corrective Action Plan

Corrective Action Plan - A new CFO is in place and staff have received education. Financial statement preparation is now being completed in a timely and accurate manner. Anticipated Completion Date - We have completed these steps. Responsible Parties - Stephanie Cooper, Chief Executive Officer, 909 Broadway, Hannibal, MO 63401 (573)221-3892

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1156393 2024-001
    Material Weakness Repeat
  • 1156394 2024-001
    Material Weakness Repeat
  • 1156395 2024-001
    Material Weakness Repeat
  • 1156396 2024-001
    Material Weakness Repeat
  • 1156397 2024-001
    Material Weakness Repeat
  • 1156398 2024-001
    Material Weakness Repeat
  • 1156399 2024-001
    Material Weakness Repeat
  • 1156400 2024-001
    Material Weakness Repeat
  • 1156401 2024-001
    Material Weakness Repeat
  • 1156402 2024-001
    Material Weakness Repeat
  • 1156403 2024-001
    Material Weakness Repeat
  • 1156404 2024-002
    Material Weakness Repeat
  • 1156405 2024-002
    Material Weakness Repeat
  • 1156406 2024-002
    Material Weakness Repeat
  • 1156407 2024-002
    Material Weakness Repeat
  • 1156408 2024-002
    Material Weakness Repeat
  • 1156409 2024-002
    Material Weakness Repeat
  • 1156410 2024-002
    Material Weakness Repeat
  • 1156411 2024-002
    Material Weakness Repeat
  • 1156412 2024-002
    Material Weakness Repeat
  • 1156413 2024-002
    Material Weakness Repeat
  • 1156414 2024-002
    Material Weakness Repeat
  • 1156415 2024-003
    Material Weakness Repeat
  • 1156416 2024-003
    Material Weakness Repeat
  • 1156417 2024-003
    Material Weakness Repeat
  • 1156418 2024-003
    Material Weakness Repeat
  • 1156419 2024-003
    Material Weakness Repeat
  • 1156420 2024-003
    Material Weakness Repeat
  • 1156421 2024-003
    Material Weakness Repeat
  • 1156422 2024-003
    Material Weakness Repeat
  • 1156423 2024-003
    Material Weakness Repeat
  • 1156424 2024-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
93.600 Head Start $1.04M
10.766 Community Facilities Loans and Grants $904,841
10.558 Child and Adult Care Food Program $496,392
93.575 Child Care and Development Block Grant $296,343
10.569 Emergency Food Assistance Program (food Commodities) $199,043
94.011 Americorps Seniors Foster Grandparent Program (fgp) 94.011 $193,274
10.565 Commodity Supplemental Food Program $116,655
14.231 Emergency Solutions Grant Program $108,955
94.002 Americorps Seniors Retired and Senior Volunteer Program (rsvp) 94.002 $81,606
16.575 Crime Victim Assistance $50,683