FAC Explorer

Finding 1241300 (2026-003)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2026
Accepted
2026-10-28
Audit: 415434
Organization: ALLOUEZ TOWNSHIP GOVERNMENT OFFICE (MI)
Auditor: SUSAN D SANFORD CPA PLLC

AI Summary

  • Answer: The Township failed to set up required accounts during the audit period.
  • Trend: This indicates a pattern of delayed financial planning and compliance.
  • List: Recommend establishing these accounts promptly to meet requirements and avoid future issues.

Finding Text

The Township did not establish a Bond Reserve Account or Repair, REplacement and Improvement Account until after the audit period

Corrective Action Plan

By October 20, 2026, the Township fully funded the reserve accounts up to the October 1, 2026 required and fully funded the bond reserve account to the accumulated 10 year balance. The Township board adopted a policy to make qarterly payments from now on.

Categories

No categories assigned yet.

Programs in Audit

ALN Program Name Expenditures
10.760 WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES $2.89M