Finding 32919 (2022-002)

Material Weakness
Requirement
C
Questioned Costs
-
Year
2022
Accepted
2023-07-28
Audit: 31541
Organization: Opportunity Alabama, Inc. (AL)
Auditor: Bmss LLC

AI Summary

  • Core Issue: A grant reimbursement report was submitted five months late.
  • Impacted Requirements: Timely submission of reports and proper year-end cutoff were not met.
  • Recommended Follow-Up: Ensure timely submission of reimbursement reports and maintain a record of open periods.

Finding Text

Finding 2022-002 Timely Submittal of Reimbursement Reports and Cutoff Criteria: The Organization?s management is responsible for proper internal control over financial reporting, including timely submittal of reimbursement reports and cutoff. Condition: During the audit, we noted one grant reimbursement report was submitted five months after the reimbursement period ended. Effect: The expenses associated with this reimbursement were not appropriately considered for year-end cutoff resulting in a prior period adjustment. Recommendation: We recommend reimbursement reports be submitted in a timely manner and that a record be maintained of all open reimbursement periods.

Corrective Action Plan

Finding 2022-002 Timely Submittal of Reimbursement Reports and Cutoff Corrective Action Plan: In June of 2022, Opportunity Alabama Inc. began processing grant expense reimbursement reports on a quarterly basis. These reports are filed by the last day of the month following the quarter end. This allows for an up to date record of all open reimbursement periods.

Categories

Cash Management Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 32918 2022-001
    Material Weakness
  • 32920 2022-003
    Significant Deficiency
  • 32921 2022-001
    Material Weakness
  • 32922 2022-002
    Material Weakness
  • 32923 2022-003
    Significant Deficiency
  • 32924 2022-001
    Material Weakness
  • 32925 2022-002
    Material Weakness
  • 32926 2022-003
    Significant Deficiency
  • 32927 2022-001
    Material Weakness
  • 32928 2022-002
    Material Weakness
  • 32929 2022-003
    Significant Deficiency
  • 609360 2022-001
    Material Weakness
  • 609361 2022-002
    Material Weakness
  • 609362 2022-003
    Significant Deficiency
  • 609363 2022-001
    Material Weakness
  • 609364 2022-002
    Material Weakness
  • 609365 2022-003
    Significant Deficiency
  • 609366 2022-001
    Material Weakness
  • 609367 2022-002
    Material Weakness
  • 609368 2022-003
    Significant Deficiency
  • 609369 2022-001
    Material Weakness
  • 609370 2022-002
    Material Weakness
  • 609371 2022-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
11.307 Economic Adjustment Assistance $800,713
23.001 Appalachian Regional Development (see Individual Appalachian Programs) $192,314
11.020 Cluster Grants $73,843
14.252 Section 4 Capacity Building for Community Development and Affordable Housing $17,629