Finding Text
Criteria - The reimbursements for federal grants should be submitted on a monthly or at least quarterly basis. The budgeted amounts recorded in the Charter School’s financial accounting software should reflect the grant award and/or unexpended carryover funds as applicable. Condition - The Charter School does not in submission for reimbursement of expenditures federal grants on a monthly or quarterly basis and the budgeted amounts recorded in the Charter School’s financial accounting software for IDEA, Title I, Title III and Title IV did not accurately reflect the grant award and unexpended carryover funds. The Finance Department of the Charter School is responsible for the timely submission of the federal grants and the accurate recording of the budgeted federal grants in the Charter School’s financial accounting software. These processes are performed by one person with limited oversight review. Cause - This is due, in part, to the limited number of personnel at the Charter School. Effect or Potential Effect - In accurate submission of federal grants and inaccurate recording of the budgeted federal grants in the Charter School’s financial accounting software could result in for federal grant monies not being expended or over expenditures of grant awards. Recommendation - It is recommended that the Charter School submit reimbursement requests for federal grants on a monthly or at least a quarterly basis and ensure that the budgeted amounts and unexpended carryover funds are properly recorded in the Charter School’s financial accounting software for the federal grant funds. Management’s Response - Management will ensure that a corrective action plan is prepared and implemented to address the recommendations regarding federal grants.