FAC Explorer

Finding 3548 (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.

Categories

Equipment & Real Property Management

Other Findings in this Audit

  • 3546 2022-003
    Significant Deficiency
  • 3547 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