Finding 392945 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2024-04-10

Audit: 303226

Organization: Matawan-Aberdeen Regional School District (NJ)

Auditor: Suplee Clooney & Company

AI Summary

Answer: The District has more cash on hand than needed for three months of expenses as of June 30, 2023.
Trend: This indicates a positive financial position, showing that the District is managing its resources well.
List: Monitor cash flow regularly, ensure continued compliance with financial guidelines, and consider strategic investments of excess cash.

The District's net cash resources exceeded three months average expenditures at June 30, 2023

The BA and the food service company will review needs of the buildings to purchase necessary equipment to reduce cash flow.

ALN	Program Name	Expenditures
84.425	Education Stabilization Fund	$1.77M
84.027	Special Education_grants to States	$878,968
84.010	Title I Grants to Local Educational Agencies	$420,570
93.778	Medical Assistance Program	$194,821
10.555	National School Lunch Program	$181,690
10.553	School Breakfast Program	$106,878
84.367	Improving Teacher Quality State Grants	$69,674
84.424	Student Support and Academic Enrichment Program	$66,648
84.365	English Language Acquisition State Grants	$31,091
84.173	Special Education_preschool Grants	$26,409
10.592	Healthy, Hunger-Free Kids Act of 2010 Childhood Hunger Research and Demonstration Projects	$23,941
21.027	Coronavirus State and Local Fiscal Recovery Funds	$16,395
84.048	Career and Technical Education -- Basic Grants to States	$3,416
10.185	National School Lunch Program	$1,933