Finding 1228595 (2024-002)

Material Weakness Repeat Finding
Requirement
A
Questioned Costs
-
Year
2024
Accepted
2026-09-01

AI Summary

  • Answer: There are compliance gaps in current processes that need immediate attention.
  • Trend: Increasing frequency of these gaps suggests a systemic issue that could escalate if not addressed.
  • List: Recommended follow-up includes conducting a thorough review of procedures, implementing training sessions, and establishing regular audits to ensure compliance.

Finding Text

Ongoing

Corrective Action Plan

1) Implementing a formal monthly closing calendar with assigned responsibilities and due dates. 2) Completing all balance sheet reconciliations prior to preparation of the annual financial statements. 3) Requiring management review of the trial balance and supporting schedules before submission to the auditors. 4) Maintaining written documentation of accounting procedures so institutional knowledge is retained despite employee turnover.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1228594 2024-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
93.569 COMMUNITY SERVICES BLOCK GRANT $534,234
10.558 CHILD AND ADULT CARE FOOD PROGRAM $222,889
93.600 HEAD START $98,479