FAC Explorer

Finding 29838 (2022-001)

Significant Deficiency
Requirement
F
Questioned Costs
-
Year
2022
Accepted
2022-12-19
Audit: 32263
Organization: Occidental College (CA)
Auditor: Moss Adams LLP

AI Summary

  • Core Issue: The College failed to conduct a required physical inventory of federally funded equipment and real property within the two-year timeframe.
  • Impacted Requirements: Compliance with 2 CFR section 200.313(d)(2) regarding physical inventory management.
  • Recommended Follow-Up: Implement a policy to ensure annual monitoring and conduct of physical inventories for federally acquired assets.

Finding Text

FINDING 2022-001 ? Equipment and Real Property Management ? Significant Deficiency in Internal Controls and Instance of Non-Compliance "See Schedule of Findings and Questioned Costs for chart/table" Criteria: An institution must conduct a physical inventory of equipment and real property at least once every two years with results reconciled with the equipment records (2 CFR section 200.313(d)(2)). Condition/Context: In testing equipment and real property management, we requested from management support for their conduction of a physical inventory of equipment and real property acquired with federal funds. We noted management was unable to produce such records, as a physical inventory of federal equipment and real property had not been conducted within the required two-year period. Cause: There was a lapse in internal controls surrounding monitoring the physical inventory of equipment and real property acquired with federal funds. Effect: The College did not timely conduct their physical inventory of equipment and real property acquired with federal funds within the two-year period. Repeat Finding: This is not a repeat finding. Recommendation: We recommend the College implement a policy to monitor the physical inventory of equipment and real property acquired with federal funds at least once during each two-year period. Views of responsible officials: Management agrees there was a lapse in controls surrounding monitoring the physical inventory of equipment and real property acquired with federal funds. New and revised controls will be implemented to ensure a physical inventory of federally acquired equipment and real property is conducted within the required two-year period. These controls include performing this physical inventory at least annually to ensure the two-year requirement is met.

Corrective Action Plan

FINDING 2022-001 ? Equipment and Real Property Management ? Significant Deficiency in Internal Controls and Instance of Non-Compliance. Corrective Action Plan: The College will perform a physical inventory of equipment purchased with federal funds annually to ensure we meet the compliance requirement of performing a physical inventory once every two years. the College's schedule for performing physical inventories was interrupted by the pandemic. Contact Person Responsible for Corrective Action: Barbara Valiente, Associate Vice President for Finance and Controller. Anticipated Completion Date: We completed the physical inventory on November 8, 2022, however we had not completed an inventory since 2019. Sincerely, Barbara Valiente, Associate Vice President for Finance and Controller, Occidental College, 1600 Campus Rd., Los Angeles, CA 90047, (323) 259-1417

Categories

Equipment & Real Property Management

Other Findings in this Audit

  • 29839 2022-001
    Significant Deficiency
  • 29840 2022-001
    Significant Deficiency
  • 29841 2022-001
    Significant Deficiency
  • 29842 2022-001
    Significant Deficiency
  • 29843 2022-001
    Significant Deficiency
  • 29844 2022-001
    Significant Deficiency
  • 29845 2022-001
    Significant Deficiency
  • 29846 2022-001
    Significant Deficiency
  • 29847 2022-001
    Significant Deficiency
  • 29848 2022-001
    Significant Deficiency
  • 29849 2022-001
    Significant Deficiency
  • 29850 2022-001
    Significant Deficiency
  • 29851 2022-001
    Significant Deficiency
  • 29852 2022-001
    Significant Deficiency
  • 29853 2022-001
    Significant Deficiency
  • 29854 2022-001
    Significant Deficiency
  • 29855 2022-001
    Significant Deficiency
  • 29856 2022-001
    Significant Deficiency
  • 29857 2022-001
    Significant Deficiency
  • 29858 2022-001
    Significant Deficiency
  • 29859 2022-001
    Significant Deficiency
  • 29860 2022-001
    Significant Deficiency
  • 29861 2022-001
    Significant Deficiency
  • 29862 2022-001
    Significant Deficiency
  • 29863 2022-001
    Significant Deficiency
  • 29864 2022-001
    Significant Deficiency
  • 29865 2022-001
    Significant Deficiency
  • 29866 2022-001
    Significant Deficiency
  • 29867 2022-001
    Significant Deficiency
  • 29868 2022-001
    Significant Deficiency
  • 29869 2022-001
    Significant Deficiency
  • 29870 2022-001
    Significant Deficiency
  • 29871 2022-001
    Significant Deficiency
  • 29872 2022-001
    Significant Deficiency
  • 606280 2022-001
    Significant Deficiency
  • 606281 2022-001
    Significant Deficiency
  • 606282 2022-001
    Significant Deficiency
  • 606283 2022-001
    Significant Deficiency
  • 606284 2022-001
    Significant Deficiency
  • 606285 2022-001
    Significant Deficiency
  • 606286 2022-001
    Significant Deficiency
  • 606287 2022-001
    Significant Deficiency
  • 606288 2022-001
    Significant Deficiency
  • 606289 2022-001
    Significant Deficiency
  • 606290 2022-001
    Significant Deficiency
  • 606291 2022-001
    Significant Deficiency
  • 606292 2022-001
    Significant Deficiency
  • 606293 2022-001
    Significant Deficiency
  • 606294 2022-001
    Significant Deficiency
  • 606295 2022-001
    Significant Deficiency
  • 606296 2022-001
    Significant Deficiency
  • 606297 2022-001
    Significant Deficiency
  • 606298 2022-001
    Significant Deficiency
  • 606299 2022-001
    Significant Deficiency
  • 606300 2022-001
    Significant Deficiency
  • 606301 2022-001
    Significant Deficiency
  • 606302 2022-001
    Significant Deficiency
  • 606303 2022-001
    Significant Deficiency
  • 606304 2022-001
    Significant Deficiency
  • 606305 2022-001
    Significant Deficiency
  • 606306 2022-001
    Significant Deficiency
  • 606307 2022-001
    Significant Deficiency
  • 606308 2022-001
    Significant Deficiency
  • 606309 2022-001
    Significant Deficiency
  • 606310 2022-001
    Significant Deficiency
  • 606311 2022-001
    Significant Deficiency
  • 606312 2022-001
    Significant Deficiency
  • 606313 2022-001
    Significant Deficiency
  • 606314 2022-001
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $7.84M
84.038 Federal Perkins Loan Program (beginning of the Year) $2.56M
84.425 Covid-19 Educational Stabilization Fund $2.24M
84.063 Federal Pell Grant Program $1.69M
84.047 Trio_upward Bound $679,874
84.007 Federal Supplemental Educational Opportunity Grants $402,031
84.033 Federal Work-Study Program $315,448
84.334 Gaining Early Awareness and Readiness for Undergraduate Programs (gear Up 4 La) $265,944
47.049 Center for Undergraduate Research-Mathematics $216,939
47.074 Career: Integrating Undergraduate Research, Citizen Science, and Museum Genomics to Explore A Century of Change in North American Birds $188,740
47.075 Rui: Sts: Race, Immigration, and the Public Understanding of Science $144,482
15.423 The Environmental Status of Artificial Structures Offshore California $109,844
47.050 Mri: Acquisition of A Malvern Particle Size Analyzer for Interdisciplinary Research and Undergraduate Education and Research Training $109,778
15.423 Supplemental Data Regarding the Behavioral Response of Rock Crabs to the Emf of Subsea Cables and Potential Impact to Fisheries $105,098
93.867 Electromechanical Cornea Reshaping for Refractive Vision Therapy $101,589
10.170 Growing Together: Building Sustainable School Gardens in Los Angeles $100,934
43.U01 Converting Co2 to Gasoline Fuel Using Carbon Nanotube Platform $97,224
11.463 Subtidal Reef Restoration (ca) - II $94,136
93.859 Photocatalyzed & Enantioselective Umpolung C-C Bond Forming Reactions of Carbonyls $93,248
47.074 Digitization Pen: Obird: 3d Photogrammetry of Museum Specimens for Phenomics Across the Avian Tree of Life $93,151
12.900 2020 Startalk-Occidental College $88,599
10.310 Los Angeles Urban Agriculture Internship Program $86,583
84.367 Every Student Succeeds Act 2021 (csmp Essa21) $80,000
47.074 Rui: Csbr: Natural History: Securing and Digitizing An Extensive Spatio-Temporal Collection of Southern California's Marine Biodiversity $75,655
12.300 Safety Zone Kelp Monitoring at San Clemente Island $65,622
47.049 Geometric and Semantic Structures for Two and Three-Dimensional Shape Understanding $62,550
47.074 Rui: Marine Vampire Microbiome Project (mvp) Blood-Feeding Marine Invertebrates and Their Bacterial Accomplices $47,308
43.U01 Star Cluster Populations of Interacting Dwarf Galaxies $45,782
47.049 Rui: Development of Dianionic Enolates for the Stereoselective Synthesis of Natural and Unnatural Amino Acids $45,375
47.049 Reu Site: Data Science, Number Theory, and Positional Game Theory $43,891
47.050 Rui: Collaborative Research: Understanding Bioerosion From Individuals to Ecosystems: the Impacts of Biotic and Abiotic Stressors on Sponge Erosion of Oyster Reefs $43,791
47.049 Mri: Acquisition of A 400 Mhz Nmr Spectrometer for Undergraduate Research and Teaching in Chemistry $35,875
93.859 Quantitative Afm Investigations of Adhesion of A Planktonic Bacterial Predator to Biofilm Prey $32,748
47.070 Mri: Acquisition of A High-Performance Computing Cluster for Occidental College $31,576
47.050 Rui: Collaborative Research: Quantifying the Roles of Tectonic Activity and Climate As Drivers of Glacial-Interglacial Landscape Evolution in the Teton Range, Wyoming $22,774
47.049 Rui-Che: Development of Organometallic Complexes for the Next-Generation of Non-Aqueous Redox Flow Batteries $22,351
47.074 Collaborative Research: Rui: Keystone Molecules and Estarine Foodwebs: Chemical Defense and A Noval Biosynthetic Pathway in A Common Mudflat Mullusc $18,675
47.076 Cosmos: Creating Opportunities in Science and Mathematics for Occidental Students $17,172
47.049 National Research Experience for Undergraduates Program (nreup) $17,011
47.049 The Role of Dwarf-Dwarf Galaxy Interactions Over Cosmic Time $14,968
47.076 Creating Opportunities for High-Achieving Students in Science and Mathematics Through Scholarships, Research Experiences, Leadership and Community $11,312
47.074 Mri: Launching An Undergraduate-Driven Genomics Center Through Acquisition of An Illumina Miseq $8,596
10.559 Summer Food Service Program for Children $8,444
47.050 Rui: Collaborative Research: Timing of Slip Along the Sierra Nevada Frontal Fault Zone, California: A Thermochronologic Study $6,377
20.701 Displacement and Commuting in the San Francisco Bay Area and Beyond: An Analysis of the Relationship Between the Housing Crisis, Displacement, and Long Commutes $4,785
43.U01 Accelerated Aging Study for Reagents Used on Space Exploration $3,346
20.701 Commuting During and After Covid-19: the Impact of Covid on Shared Mobility and Extreme Commuting in the Bay Area-Central Valley $2,368
47.050 Pleistocene Paleointensity Record of Aleutian Island Volcanics $1,551