FAC Explorer

Finding 1241339 (2023-001)

Material Weakness Repeat Finding
Requirement
B
Questioned Costs
-
Year
2023
Accepted
2026-10-29
Audit: 415480
Organization: Summit County Child Care Resource and Referral (CO)
Auditor: SUMMIT ACCOUNTANTS PLLC

AI Summary

  • Issue: Internal controls failed to ensure accurate period-end recognition for reimbursement grants.
  • Trend: Misrecorded transactions from 2022 and 2023 were noted in the following fiscal years (2023 and 2024).
  • Recommendation: Strengthen internal controls to ensure timely and accurate recording of grant transactions.

Finding Text

During our cutoff testing of reimbursement grants, we noted that the Company's internal controls,did not effectively ensure proper period-end recognition. Specifically, certain grant transactions incurred in 2022 and 2023 were incorrectly recorded in the subsequent fiscal years (2023 and 2024, respectively).

Corrective Action Plan

Company hires and maintains internal certified public accountant oversight and review of its accounting records.

Categories

Cash Management Internal Control / Segregation of Duties

Programs in Audit

ALN Program Name Expenditures
93.600 HEAD START $180,922