Finding Text
2025-002 Finding: Preparation of Financial Statement and Schedule of Expenditures of Federal Awards (SEFA) Federal Program Affected: ALN #21.027 Compliance Requirement: Reporting Questioned Costs: None Condition and Cause: As a matter of practicality and efficiency, we have assisted in drafting the financial statements and SEFA in both form and content, based on information provided by management during the audit. Criteria and Effect: Management and those charged with governance are ultimately responsible for preparing and presenting the financial statements and SEFA in accordance with the applicable financial reporting framework. The auditor’s responsibility for the financial statements and SEFA is to express an opinion on them based on the audit evidence obtained. Repeat Finding from Prior Year: Yes, prior year finding #2024-002. Recommendation: Management and if applicable, governance, should review the financial statements and SEFA for accuracy of account balances and context of note disclosures. Management and governance should inquire of the auditors about any balances or disclosures which management does not understand or cannot reconcile to internal records prior to signing the management representation letter. Response/Corrective Action Plan: The District agrees with the above finding. See Corrective Action Plan.