Finding 1236680 (2024-002)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2026-09-25
Audit: 412225
Organization: Lead Academy (AL)

AI Summary

  • Core Issue: The school has exceeded its net cash resource limit by $248,377, violating federal guidelines.
  • Impacted Requirements: This finding is a repeat from last year, indicating ongoing noncompliance with 7 CFR Subpart C - 210.14(b).
  • Recommended Follow-Up: Management should work with ALSDE to create a plan for using or returning excess funds.

Finding Text

Finding Type: Significant deficiency Criteria - Per 7 CFR Subpart C - 210.14(b), the school food authority shall limit its net cash resources to an amount that does not exceed its 3-month average expenditures for its nonprofit school food service or such other amount as may be approved by the State agency in accordance with 7 CFR Subpart D - 210.19(a). (This is a repeat of prior year finding 2023-010). Condition - The cumulative net cash resources as of December 31, 2024 totaled $426,397, which exceeded the net cash resource limit by $248,377. Cause - The School accumulated a large net cash resource balance during the COVID-19 pandemic and the USDA extension of the summer feeding program. Effect - The School is not in compliance with 7 CFR Subpart C - 210.14(b). Noncompliance with this guidance exposes the School to the risk of forfeiture of Child Nutrition Program funds. Recommendation - We recommend that management and the School communicate with ALSDE to establish an appropriate plan to use the net cash resources or return of the funds. Questioned costs - None. Management response - See corrective action plan provided by the Head of School.

Corrective Action Plan

Implementation of plan of action - Management has communicated with ALSDE and submitted a detailed spend-down plan to bring net cash resources under the 3-month limit. The spend-down plan was approved by ALSDE and the School is currently operating under that plan. The spend-down plan was revised by the School and reviewed and approved by ALSDE in conjunction with the FY 2025 financial statement submission. Implementation date - Anticipated completion August 4, 2025. Persons responsible for the implementation - The Board of Directors and Head of School.

Categories

School Nutrition Programs Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.425 EDUCATION STABILIZATION FUND $962,348
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $524,415
10.555 NATIONAL SCHOOL LUNCH PROGRAM $480,547
10.553 SCHOOL BREAKFAST PROGRAM $196,191
84.027 SPECIAL EDUCATION GRANTS TO STATES $76,641
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $68,567
10.565 COMMODITY SUPPLEMENTAL FOOD PROGRAM $31,993
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $16,567
10.582 FRESH FRUIT AND VEGETABLE PROGRAM $3,347
96.001 SOCIAL SECURITY DISABILITY INSURANCE $220