Finding Text
All Federal Programs
Criteria
The schedule of expenditures of federal awards (SEFA) must include all expenditures of federal awards during the year under audit, along with other identifying information.
Condition
The SEFA prepared by the Organization’s staff required significant adjustments and additions by the auditor in order to properly recognize all federal award expenditures.
Cause
Staff responsible for maintaining the SEFA may lack the training necessary to ensure its completeness and accuracy. The SEFA was not reviewed by senior members of the finance team after its preparation.
Effect
The internally prepared SEFA was inaccurate and required correction in order to remain compliant with federal requirements.
Recommendation
Additional training may be necessary for the staff responsible for maintaining the SEFA. Processes should be established to identify unique or new federal awards throughout the year. The SEFA should be reviewed and approved by senior finance staff prior to its completion.