Finding 24375 (2022-004)

2022-004: Activities Allowed or Unallowed; Allowable Costs/Cost Principles ? 84.425 Education Stabilization Fund Criteria The District did not maintain documentation to support all expenditures incurred. Condition A proper system of internal control over financial reporting includes a process designed to ensure all documentation is maintained in accordance with the District?s record retention policy. Cause The District did not adhere to the record retention policy in place. Effect The control deficiency resulted in the District unable to provide proper documentation for an expenditure incurred during the year. Questioned Costs None Context Out of thirteen cash disbursements reviewed, one was missing supporting documentation. Repeat Finding This is not a repeat finding. Recommendation The District should review and adhere to its document retention policy. Management?s Response The Superintendent and business manager will work together to ensure all purchases match up with purchase orders and receipts.