FAC Explorer

Finding 3546 (2022-003)

Significant Deficiency
Requirement
F
Questioned Costs
-
Year
2022
Accepted
2023-12-06
Audit: 5561
Organization: YWCA of Eastern Union County, Inc. (NJ)
Auditor: Bkc CPAS PC

AI Summary

  • Core Issue: The Organization has not conducted a required physical inventory of fixed assets purchased with grant funds.
  • Impacted Requirements: This violates federal guidelines that mandate inventory checks every two years (2 CFR section 200.313(d)(2)).
  • Recommended Follow-Up: Establish an inventory policy to ensure assets are verified at least every two years; Program Directors will conduct annual inventories.

Finding Text

Finding 2022 – 03 Property and Equipment Federal Program - Emergency Solutions Grant CFDA 14.231 Criteria: A physical inventory of the property must be taken, and the results reconciled with the property records at least once every two years (2 CFR section 200.313(d)(2)). Condition: The Organization has not taken physical inventory of its fixed assets purchased with grant funds. Effect: Assets purchased may be lost, damaged or stolen and could lead to loss of assets or the reporting of misleading financial information. Cause: The Organization does not have procedures in place to take inventory of equipment acquired under federal awards. Recommendation: Implement an inventory policy and procedures to verify existence and condition of assets acquired with federal awards at least every two years. Views of responsible officials: The Organization agrees with this finding and Program Directors will perform annual inventories of equipment within their respective departments.

Corrective Action Plan

The YWCA will implement inventory policy and procedures to verify the existence and condition of assets acquired with federal awards at least every two years.

Categories

Equipment & Real Property Management

Other Findings in this Audit

  • 3547 2022-003
    Significant Deficiency
  • 3548 2022-003
    Significant Deficiency
  • 3549 2022-002
    Significant Deficiency
  • 3550 2022-002
    Significant Deficiency
  • 3551 2022-002
    Significant Deficiency
  • 3552 2022-002
    Significant Deficiency
  • 3553 2022-002
    Significant Deficiency
  • 3554 2022-002
    Significant Deficiency
  • 3555 2022-002
    Significant Deficiency
  • 3556 2022-002
    Significant Deficiency
  • 579988 2022-003
    Significant Deficiency
  • 579989 2022-003
    Significant Deficiency
  • 579990 2022-003
    Significant Deficiency
  • 579991 2022-002
    Significant Deficiency
  • 579992 2022-002
    Significant Deficiency
  • 579993 2022-002
    Significant Deficiency
  • 579994 2022-002
    Significant Deficiency
  • 579995 2022-002
    Significant Deficiency
  • 579996 2022-002
    Significant Deficiency
  • 579997 2022-002
    Significant Deficiency
  • 579998 2022-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.231 Emergency Solutions Grant Program $416,032
14.267 Continuum of Care Program $245,438
16.575 Crime Victim Assistance $86,331
16.588 Violence Against Women Formula Grants $52,101
93.671 Family Violence Prevention and Services/domestic Violence Shelter and Supportive Services $45,452
10.558 Child and Adult Care Food Program $22,850
97.024 Emergency Food and Shelter National Board Program $20,000
14.218 Community Development Block Grants/entitlement Grants $12,030
21.019 Coronavirus Relief Fund $6,664