CFPP will implement the following processes to improve the accuracy in the reporting process. Management will:
* develop a written policy and procedure to address the preparation, reconciliation, review and approval process of the SF-425 Federal Financial Report.
* provide training to all personnel responsible for the preparation of federal financial reports to ensure that the expenditures reported in the Federal Financial Report include all accruals for expenditures and that the amount of the expenditures reported are reconciled to the
expenditures included in the general ledger.
* implement a new control in which the reconciliation of the expenditures reported in the Federal Financial Report to the general ledger is reviewed by the chief financial officer.