Finding 1240088 (2022-005)

Material Weakness Repeat Finding
Requirement
B
Questioned Costs
-
Year
2022
Accepted
2026-10-07
Audit: 414710
Organization: VERGE INC (OH)
Auditor: KEVIN L PENN INC

AI Summary

  • Answer: The current invoicing percentage of 34-37% for salaries and payroll expenses needs regular review.
  • Trend: This percentage has been in use since 2006, indicating a long-standing practice that may not reflect current conditions.
  • List: Implement quarterly reviews to adjust the invoicing percentage as necessary.

Finding Text

When initially invoicing, leadership was advised by agency staff to use 34-37% of salaries, wages & payroll expenses and it has been utilized since 2006. Through this process we have learned that we must review this percentage and adjust, as needed, on a quarterly basis.

Corrective Action Plan

Grant Reimbursements

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1240089 2022-006
    Material Weakness Repeat
  • 1240090 2022-007
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
93.558 TEMPORARY ASSISTANCE FOR NEEDY FAMILIES $878,770