Finding Text
2 CFR 200.313(d)(1) provides that property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the Federal award identification number), who holds title, the acquisition date, cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sales price of the property. The District purchased a bus in the amount of $102,963 and completed office renovations in the amount of $26,750 and an entrance brivo and aiphone project and in the amount of $15,100 using their Education Stabilization Fund (ESSER II) AL# 84.425D federal funding. Due to a lack of proper internal controls over Federal Grants management, the District failed to record these purchases and projects in their capital asset records. The Treasurer and Superintendent should ensure all capital acquisitions are added to the capital asset listing and include all required information in the listing, noting the assets were purchased with federal funds.