Finding 374362 (2023-016)

Requirement

Questioned Costs

Year

2023

Accepted

2024-03-07

Audit: 293970

Organization: Rondout Valley Central School District (NY)

Auditor: Rbt CPAS LLP

AI Summary

Answer: Purchased items were not recorded in the capital asset records.
Trend: This issue indicates a lack of compliance with federal requirements for maintaining equipment records.
List: Implement a capital asset process to ensure accurate annual updates of the District's capital assets.

Finding Text

Equipment and Real Property Management Condition: Purchased items were not added to the capital asset records. Criteria: Equipment purchased with federal funds requires records to be maintained. Cause: Purchased items were not recorded to an equipment expense account. Effect: The District does not have required property record maintenance. Recommendation: RBT recommends that the District adopt a capital asset process and system of controls to accurately compile and update annually a list of capital assets owned by the District.

Corrective Action Plan

Corrective Action Plan: The District Treasurer, Suzanne Tudico, will work with Buildings & Grounds, Jodi Nagy, to ensure assets are properly tagged, recorded and tracked in order to update the annual fixed asset reporting with the 3rd party vendor. Anticipated Completion Date: June 30, 2024.

Other Findings in this Audit

950804 2023-016

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Programs in Audit

ALN	Program Name	Expenditures
84.425	Education Stabilization Fund	$1.36M
84.010	Title I Grants to Local Educational Agencies	$472,627
10.553	School Breakfast Program	$106,315
84.367	Improving Teacher Quality State Grants	$63,997
10.555	National School Lunch Program	$44,882
84.027	Special Education_grants to States	$31,790
84.424	Student Support and Academic Enrichment Program	$16,605
10.579	Child Nutrition Discretionary Grants Limited Availability	$13,943
10.649	Pandemic Ebt Administrative Costs	$3,140
84.173	Special Education_preschool Grants	$2,849