Finding 34063 (2022-221)

Significant Deficiency Repeat Finding
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2023-05-29
Audit: 32894
Organization: Talmud Torah Yesodei Hatorah (NJ)

AI Summary

  • Issue: The audit report was not submitted to the State of New Jersey by the March 31, 2023 deadline.
  • Requirements Impacted: The School must submit audits within nine months after the fiscal year-end.
  • Recommended Follow-up: Implement a system for auditors to start their work promptly after the fiscal year to ensure timely completion.

Finding Text

Condition: The audit report is due to be received by the State of New Jersey no later than march 31, 2023. As a result, the audit was not submitted timely. Criteria: The School is required to submit the audit to the State of New Jersey no later than none months after their year-end. Cause: The School did not realize how long it takes to complete an audit and didn?t give the auditor enough time to complete the audit in time. Effect of Finding: The effect of this noncompliance is minimal. Recommendation: A system should be in place where the auditor should be able to begin his audit soon after the fiscal year end in order to be able to complete the audit in time. View of Responsible Party and Planned Corrective Action: The administrator and staff of the School will work on ensuring that all future audits are submitted in a timely manner.

Corrective Action Plan

Finding 22-1: The audit report was due to be received by the State of New Jersey no later than March 31, 2023. As a result, the audit was not submitted timely. Recommendation: To ensure the proper procedures are in place to allow the audit to be completed and received by the State of New Jersey Department of Agriculture in the required timeframe. Action Taken: ? Firstly, Administrator met with his staff and required that all books and records relating to the food program should be current and up to date in order to facilitate sending the information to the Audit firm in a timely manner. ? Secondly, there was a meeting between the Administrator and the CPA firm retained to prepare the audit. An understanding was reached that within 60 days prior to the audit due date, the CPA firm and the school?s administrative staff will meet to begin the work on the audit. ? These steps will help ensure that the audit will be completed soon after the close of the fiscal year and in a timely manner. Implementation Date: Corrective Action Plan has been implemented as of May 17, 2023. Person Responsible for Implementation: Mr. Rother, the Administrator, is the responsible party for implementation of the CAP. Telephone Number: (732)-722-5511.

Categories

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Other Findings in this Audit

  • 610505 2022-221
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $2.05M
10.559 Summer Food Service Program for Children $1.06M
10.553 School Breakfast Program $65,568