Finding Text
Finding No. 2025-001 Information on the Federal Program Federal Assistance Listing Number – 10.553, 10.555 & 10.559 Title – Child Nutrition Cluster Agency – U.S. Department of Agriculture Federal FAIN Number – 25NJ304N1099 Year – 7/1/2024 to 6/30/2025 Pass Through Entity – New Jersey Department of Agriculture Criteria or Specific Requirement A Food Service Fund's Net Cash Resources should not exceed its three-months average expenditures. Condition The Charter School’s Food Service Fund Net Cash Resources exceeded its three-months average expenditures by $187,872.63. Questioned Costs None. Context Per the calculation of the Food Service Fund's Net Cash Resources, Net Cash Resources at June 30, 2025 were $467,775.94 and its three-month average expenditures were $279,903.32, resulting in an overage of $187,872.63. Effect or Potential Effect Noncompliance with the requirements as prescribed by the Office of School Finance, Department of Education, State of New Jersey Audit Program. Cause The Charter School’s revenues generated from food service operations exceeded the expenditures required to operate the food service program. Identification as a Repeat Finding Yes. Recommendation That the Charter School develops a plan to reduce the Food Service Fund's Net Cash Resources below its three- month average expenditures. View of Responsible Officials and Planned Corrective Action The responsible officials agree with the finding and will address the matter as part of their corrective action plan.