Finding Text
2022-003 Condition and Criteria: The U.S. Department of Agriculture regulation located at 7 CFR Part 210, Subpart C, Section 210.14(b) states that the food service fund is to limit its net cash resources to an amount that does not exceed 3 months average expenditures. The cash balance in the District's food service fund exceeded the allowable amount at June 30, 2022. Cause: Current year grant funding in excess of actual costs resulted in an increase in the cash balance. Effect: Noncompliance with the requirements of the Code of Federal Regulations. Recommendation: The District should develop and implement a plan to reduce its cash balance below the allowable limit. Management Response: The District response to this finding is included in the corrective action plan.