FAC Explorer

Finding 1173736 (2024-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2026-02-16
Audit: 387427
Organization: City of Bessemer (AL)
Auditor: THE PRINCIPAL & ASSOCIATES

AI Summary

  • Answer: The city has not reported its materials and supplies inventory in financial statements.
  • Trend: This lack of reporting may lead to inaccuracies in financial assessments and budgeting.
  • List: Follow up by implementing regular inventory audits, updating financial reporting practices, and training staff on compliance requirements.

Finding Text

No Finanical Reporting of the City's Materials and Supplies Inventory

Corrective Action Plan

The City will have each department that maintains comsumable materials and small equipments with less than one year shelf-life complete a physical inventory county of items on hand at the end of each fiscal year. The vaule of the inventory will be adjusted to reflect the inventory at the lower of cost or market based of the physcial count.

Categories

Reporting Equipment & Real Property Management

Other Findings in this Audit

  • 1173713 2024-013
    Material Weakness Repeat
  • 1173714 2024-013
    Material Weakness Repeat
  • 1173715 2024-013
    Material Weakness Repeat
  • 1173716 2024-013
    Material Weakness Repeat
  • 1173717 2024-013
    Material Weakness Repeat
  • 1173718 2024-013
    Material Weakness Repeat
  • 1173719 2024-013
    Material Weakness Repeat
  • 1173720 2024-013
    Material Weakness Repeat
  • 1173721 2024-012
    Material Weakness Repeat
  • 1173722 2024-012
    Material Weakness Repeat
  • 1173723 2024-012
    Material Weakness Repeat
  • 1173724 2024-012
    Material Weakness Repeat
  • 1173725 2024-012
    Material Weakness Repeat
  • 1173726 2024-012
    Material Weakness Repeat
  • 1173727 2024-012
    Material Weakness Repeat
  • 1173728 2024-012
    Material Weakness Repeat
  • 1173729 2024-001
    Material Weakness Repeat
  • 1173730 2024-001
    Material Weakness Repeat
  • 1173731 2024-001
    Material Weakness Repeat
  • 1173732 2024-001
    Material Weakness Repeat
  • 1173733 2024-001
    Material Weakness Repeat
  • 1173734 2024-001
    Material Weakness Repeat
  • 1173735 2024-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $4.53M
20.205 HIGHWAY PLANNING AND CONSTRUCTION $1.83M
14.218 COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS $878,216
16.839 STOP SCHOOL VIOLENCE $228,571
16.922 EQUITABLE SHARING PROGRAM $153,617
16.738 EDWARD BYRNE MEMORIAL JUSTICE ASSISTANCE GRANT PROGRAM $68,184
16.726 JUVENILE MENTORING PROGRAM $48,352
95.001 HIGH INTENSITY DRUG TRAFFICKING AREAS PROGRAM $33,382