FAC Explorer

Finding 1173218 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-02-11
Audit: 386694
Organization: Township of Montgomery School District (NJ)
Auditor: SUPLEE CLOONEY & COMPANY LLC

AI Summary

  • Answer: The District had more cash on hand than needed for three months of expenses as of June 30, 2025.
  • Trend: This indicates a positive financial position, showing the District's ability to cover short-term costs comfortably.
  • List: Monitor cash flow regularly, ensure continued financial health, and consider strategic investments or savings plans.

Finding Text

The District's net cash resources exceeded three months average expenditures at June 30, 2025

Corrective Action Plan

BA will create a spreadsheet in addition to the reports in systems 3000 to maintain a cafeteria balance that does not exceed (3) months average expenditures.

Categories

No categories assigned yet.

Programs in Audit

ALN Program Name Expenditures
84.027 SPECIAL EDUCATION_GRANTS TO STATES $941,707
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $199,782
84.425 EDUCATION STABILIZATION FUND $175,345
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $140,659
84.367 IMPROVING TEACHER QUALITY STATE GRANTS $131,555
84.173 SPECIAL EDUCATION_PRESCHOOL GRANTS $28,401
10.555 NATIONAL SCHOOL LUNCH PROGRAM $21,808
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $17,069
93.778 MEDICAL ASSISTANCE PROGRAM $9,437
84.365 ENGLISH LANGUAGE ACQUISITION STATE GRANTS $8,794
10.649 PANDEMIC EBT ADMINISTRATIVE COSTS $321