FAC Explorer

Finding 1224021 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-07-20
Audit: 407431
Organization: City of Lakewood (CO)
Auditor: EIDE BAILLY LLP

AI Summary

  • Answer: An invoice for goods/services received before year-end was not fully recorded.
  • Trend: This led to an understatement of accounts payable and expenditures by about $119,124.
  • List: Follow up to ensure all invoices are accurately accrued in future financial statements.

Finding Text

Based on audit procedures performed as of December 31, 2025, we identified an instance in which an invoice relating to goods/services received prior to year-end was not fully accrued. As a result, accounts payable and expenditures were understated by approximately $119,124 in the financial statements.

Corrective Action Plan

The City agrees with the finding. This process is currently performed once annually,

Categories

No categories assigned yet.

Programs in Audit

ALN Program Name Expenditures
20.205 HIGHWAY PLANNING AND CONSTRUCTION $3.80M
93.600 HEAD START $620,461
15.916 OUTDOOR RECREATION ACQUISITION, DEVELOPMENT AND PLANNING $378,344
93.044 SPECIAL PROGRAMS FOR THE AGING, TITLE III, PART B, GRANTS FOR SUPPORTIVE SERVICES AND SENIOR CENTERS $315,839
20.513 ENHANCED MOBILITY OF SENIORS AND INDIVIDUALS WITH DISABILITIES $231,215
93.575 CHILD CARE AND DEVELOPMENT BLOCK GRANT $169,865
97.067 HOMELAND SECURITY GRANT PROGRAM $124,613
16.738 EDWARD BYRNE MEMORIAL JUSTICE ASSISTANCE GRANT PROGRAM $118,853
93.958 BLOCK GRANTS FOR COMMUNITY MENTAL HEALTH SERVICES $104,545
20.600 STATE AND COMMUNITY HIGHWAY SAFETY $80,561
20.616 NATIONAL PRIORITY SAFETY PROGRAMS $73,265
10.558 CHILD AND ADULT CARE FOOD PROGRAM $30,351
97.039 HAZARD MITIGATION GRANT $30,151
14.218 COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS $20,293
45.025 PROMOTION OF THE ARTS PARTNERSHIP AGREEMENTS $20,000
16.543 MISSING CHILDREN'S ASSISTANCE $12,055
20.601 ALCOHOL IMPAIRED DRIVING COUNTERMEASURES INCENTIVE GRANTS I $6,536