Finding Text
2022-002 ? SIGNIFICANT DEFICIENCY ? Internal Controls over Reporting U.S. Department of Treasury ? Passed through the State of Alabama Department of Treasury ? COVID 19 Coronavirus State and Local Fiscal Recovery Fund ? ALN #21.027 ? Program Year 2022 Criteria ? Per 2 CFR Subpart D - 200.329(a), non-federal entities are responsible for oversight of the operations of federal award supported activities and must monitor its activities under federal awards to assure compliance with applicable federal requirements and performance expectations are being achieved. In addition, per CFR 200.303(a), non-federal entities are required to establish and maintain effective internal controls over federal awards. Condition ? The Foundation did not maintain supporting documentation of the proper review and approval of the required final report for the federal award program. Cause ? Appropriate policies and procedures were not implemented by the Foundation to maintain documentation of the review and approval of the final report for the federal award program. Effect ? Lack of documentation of monitoring could lead to improper monitoring of federal award activity and possible misuse of funds. Questioned Costs ? None Auditors? Recommendation ? Policies and procedures should be designed, implemented, and monitored to ensure that documentation is maintained for the Foundation?s monitoring of its federal award program in accordance with federal award requirements. Management response and current status ? See management corrective action plan