Finding Text
SIGNIFICANT DEFICIENCY: 2022-005 Reconciliation of SEFA to underlying Financial Statements Condition: Totals initially provided as expenditures on the schedule of expenditures of Federal awards were not reconciled to the grants shown on the Annual Secretary of the Board report which tie to the financial statements. Criteria: All supplementary information should be able to be reconciled to the basic financial statements. Effect: Risk is present that errors or irregularities in amounts on the SEFA could not be prevented or detected in a timely manner and corrected before submission of the SEFA with the annual report. Recommendation: We recommend that totals coded as Federal expenditures be analyzed and compared to the financial statement totals for accuracy and reasonableness. Management Response: The District corrected the totals for the 2021-2022 SEFA, and will carefully review the coding of Federal expenditures going forward.