Finding Text
Condition: For 2 of the 5 grant reports tested, management was unable to provide a reconciliation of key financial data from grant reporting filed with grantors and the underlying accounting records used to prepare the schedule of expenditures of financial awards. Criteria: To ensure accurate reporting information is provided to grantors, it should be reconciled to the schedule of expenditures of federal awards, and the underlying records used to prepare it. Cause: Appropriate reconciliation procedures have not been designed and implemented to demonstrate the accuracy of grant reporting. Effect: The Association is at an increased risk for grant reporting errors or omissions. Questioned Costs: N/A Recommendation: We recommend reconciling all reports submitted to the grantor to the underlying accounting records used to prepare the schedule of expenditures of federal awards. Views of Responsible Officials: Management concurs with the finding and has developed a plan to correct the finding.