Finding Text
2023 – 003
Federal Agency: Department of Treasury
Federal Program Name: Coronavirus State & Local Fiscal Recovery Fund
Assistance Listing Numbers: 21.027
Federal Award Identification Number and Year: SLFRP1746, grants were awarded within the 2022-23.
Award Period: July 1, 2022 through June 30, 2023
Type of Finding: Significant Deficiency in Internal Control over Compliance and Other Matters
Criteria or Specific Requirement:
Recipients of Coronavirus State & Local Fiscal Recovery Funds may use payments from SLRFR to replace lost public sector revenue to provide government services. Recipients may use this funding to provide government services to the extent of the reduction in revenue experience due to the pandemic. Under the Final Rule, recipients can elect a one-time “standard allowance” or they can calculate lost revenue based on the formula provide in the Final Rule to determine the amount of funds that can be used for the provision of government services.
Condition:
The University did not use the formula provided in the Final Rule when determining the amount of funds to claim under lost revenue.
Questioned Costs:
N/A
Context:
The University did not use the correct methodology when calculating lost revenue.
Cause:
The University did not use the correct methodology when calculating lost revenue.
Effect:
Lost revenue amount calculated could have resulted in more than allowed lost revenue being claimed.
Repeat Finding:
No.
Recommendation:
The University should evaluate their procedures and review their policies surrounding earmarking requirements.