Finding Text
Cash management - I noted that the AKNWRC did not have sufficient cash on hand in excess of unearned grant revenue. Per 2 CFR, Section 200.305(b), the AKNWRC must ensure all advanced funds are spent on allowable items. No questioned costs. There was a large loss in the current year that caused cash on hand to be less than unearned grant revenue. At year end, total cash on hand was less than total unearned grant revenue. Total cash on hand was $52,267 while total unearned grant revenue was $265,804. Total unearned grant revenue related to the FVPSA 93.592 grants was $169,768 and total unearned grant revenue related to the DHHS, Covid-19, ARP Support for Survivors of Domestic Violence, 93.496 was $12,432. It is imperative that AKNWRC does not incur losses in its administrative function, to ensure that grant drawdowns are retained until spent on allowable grant expenses. This was not a repeat finding.