Finding 1218369 (2024-004)

Material Weakness Repeat Finding
Requirement
B
Questioned Costs
-
Year
2024
Accepted
2026-06-24
Audit: 404652
Organization: Ventures (WA)

AI Summary

  • Core Issue: Employees were able to self-approve their own timecards, leading to potential inaccuracies in payroll reporting.
  • Impacted Requirements: This violates the requirement for effective internal controls over Federal awards as outlined in Uniform Guidance 2 CFR 200.303.
  • Recommended Follow-Up: Implement formal policies and procedures to prevent self-approval of timecards and ensure proper oversight.

Finding Text

Criteria or specific requirement: Per Uniform Guidance 2 CFR 200.303, an entity is required to establish and maintain effective internal controls over Federal awards, including controls that provide reasonable assurance that reporting requirements are met and that documentation is retained to support compliance. Condition: During payroll testing, we noted for 2 of 60 payroll disbursements tested, the employee’s timecard was self‑approved by the individual whose time was being charged. There is no mitigating control in place to prevent or detect self‑approval of timecards or allocation of payroll costs. Questioned costs: None Context: At the time the timesheet was filed, there was no control system in place to prevent or detect such self-approval of timecards or allocation of payroll costs. The two instances noted were for the same employee and isolated to that specific employee. Cause: The Organization has not established formalized policies or supervisory procedures to prevent employees from self‑approving their own timecards. Effect: Self‑approval of timecards increases the risk of inaccurate or unsupported payroll charges, misallocation of labor costs, potential fraud or manipulation of reported hours, and reduced reliability of payroll and cost‑allocation data. Repeat finding: No Recommendation: We recommend the Organization develop and implement formal policies and procedures or workflow restrictions that prevent employees from self‑approving their own timecards. Views of responsible officials: There is no disagreement with the audit finding.

Corrective Action Plan

Coronavirus State and Local Fiscal Recovery Funds – Assistance Listing No. 21.027 Recommendation: We recommend the Organization develop and implement formal policies and procedures or workflow restrictions that prevent employees from self‑approving their own timecards. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. During 2024, the Organization implemented BanbooHR to replace manual timekeeping and strengthen payroll controls. The self-approval issue occurred during initial system implementation and was identified through audit procedures. A corrective control has since been established whereby the Human Resources Manager reviews and approves the Executive Director's timecards, eliminating the ability for self-approval. In addition, payroll continues to be independently processed and reviewed by the Senior Director of Finanice, providing an additional layer of oversight. These control enhancements ensure proper segregation of duties and prevent self-approval of timecards going forward. Name(s) of the contact person(s) responsible for corrective action: Monique Valenzuela, Executive Director and Theo Everheart, Senior Director of Finance. Planned completion date for corrective action plan: May 2026

Categories

Allowable Costs / Cost Principles Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1218366 2024-003
    Material Weakness Repeat
  • 1218367 2024-003
    Material Weakness Repeat
  • 1218368 2024-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
11.034 2023 MBDA Capital Readiness Program $585,234
59.059 Congressional Grants $200,000
21.027 Coronavirus State and Local Fiscal Recovery Funds $142,099
59.050 Prime Technical Assistance $110,711
59.046 Microloan Program $9,909