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.