2022-002 Condition: Funds in the restricted cash account at June 30, 2022 of $1,965,909 are deficient to the same program deferred revenue funds of $3,815,684 by $1,849,775 on June 31, 2022. Cause: Program funds were retained in the centralized deposit account and not transferred to the program checking account. Criteria: Restricted bank accounts should be equal to program funds on hand. Effect of Potential Effect: Non-transfers of program funds to the program checking account can result in non-compliant use of program funds. Recommendation: We recommend that management immediately transfer program funds to program restricted accounts and retain any unspent funds in the restricted accounts. Views of Responsible Officials: Management agrees with the finding, see Corrective Action Plan. Corrective Action Planned: June 27, 2023. NEFWC entered into a repayment agreement with the Commonwealth of MA on June 27, 2023. Anticipated Completion Date: September 30, 2023.