FAC Explorer

Finding 2714 (2023-001)

Significant Deficiency
Requirement
B
Questioned Costs
-
Year
2023
Accepted
2023-11-29
Audit: 4620
Organization: Maine School Administrative District No 59 (ME)
Auditor: Brantner Thibodeau & Associates

AI Summary

  • Answer: Review year-end procedures to ensure accurate expense accruals.
  • Trend: Inaccurate accruals can lead to financial misstatements.
  • List: Follow up by checking accounts payable for any unrecorded expenses.

Finding Text

Recommendation: We recommend that the client review year-end procedures to ensure all expenses are correctly accrued as accounts payable if necessary.

Corrective Action Plan

MSAD59 recognizes this as a unique situation that does not happen often. The business office will continue to work diligently to be sure this type of invoicing and payment does not overlap fiscal years to the best of our ability in the future.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 579156 2023-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.010 Title I Grants to Local Educational Agencies $392,101
10.555 National School Lunch Program $234,584
84.027 Special Education_grants to States $177,136
10.553 School Breakfast Program $88,125
84.367 Improving Teacher Quality State Grants $76,777
21.027 Coronavirus State and Local Fiscal Recovery Funds $40,902
32.004 Universal Service Fund - Schools and Libraries $37,596
84.425 Education Stabilization Fund $31,068
10.582 Fresh Fruit and Vegetable Program $20,947
10.559 Summer Food Service Program for Children $10,252
84.173 Special Education_preschool Grants $2,620
10.649 Pandemic Ebt Administrative Costs $1,884