Finding 2022-103 ? Improve Controls over Capital Assets (Significant Deficiency) ? (Repeat Finding) FAL Numbers: 15.042 Program Titles: Indian School Equalization COVID-19 Indian School Equalization Condition and Context: The School has not performed a comprehensive inventory of capital assets in several years. Accordingly, the School has not reconciled a physical observation to its detailed capital asset listing. Recommendation: The auditors recommended that the School perform a physical inventory of the School's capital assets on at least a biennial basis. In addition, the Finance Department should update the School's accounting records based on the results of the physical inventory. Contact Name: Renee Ramirez, Business Manager Corrective Action Planned: HBCS is planning to perform a physical inventory of the school?s capital assets every two years. A system will be designed to ensure that this occurs. The Business Department will update the School?s accounting records based on the results of the biennial inventory. Anticipated Completion Date: June 30, 2023