Finding Text
Criteria: Guidelines require that any Cash Surplus be deposited within 60 days subsequent to year end. Condition: Cash Surplus was not deposited within 60 days subsequent to year end. Context: Due to significant adjustments made during the audit, the amount of cash surplus was not readily determinable causing the delay in deposit. Effect: The residual receipts account was not funded withing the 60 days subsequent to year end in accordance with guidelines. Cause: Due to significant adjustments made during the audit, the amount of cash surplus was not readily determinable causing the delay in deposit. Recommendation: We recommend higher level review of books and records prior to performance of the audit to determine whether a cash surplus exists and if so, deposit into the residual receipts account in accordance with the guidelines. Views of Responsible Officials and Planned Corrective Actions: Management agrees. The Accounting Manager and Executive Director for the year ended June 30, 2025 were terminated in October 2025, and the former Executive Director has returned to assist in implementing necessary controls and processes and train property level staff.