Finding Text
2022-010 ? Equipment and Real Property Management ? Material Weakness Federal Program Information Funding Agency: Department of Defense, National Science Foundation, Department of Education, Department of Health and Human Services ? National Institute of Health Federal Award Agreement Number: Not Applicable Award Year: Fiscal year 2022 Title: Research and Development Cluster Assistance Listing Number: 12.598, 47.050, 47.076, 84.031, and 93.859 Pass-through Agency: Not Applicable, Direct Program Pass-through Identification Number: Not Applicable, Direct Program Condition - The College was not able to provide an equipment listing tracking items purchased with federal funding nor did the College conduct a physical inventory.Criteria - Per 2 CFR 200.313(d)(2), a physical inventory of program property must be taken and the results reconciled with the property records at least once every 2 years and per 2 CFR 200.303(a) states that the non-Federal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations and the terms and conditions of the Federal award. Questioned Costs - Not applicable. Effect - The College could dispose of or lose federally funded equipment without following federal guidelines. Cause - The College does not have policies and procedures to ensure that equipment purchases with federal funds is maintained and tracked and that the College performing a physical inventory at a minimum of every two years.