Finding 393340 (2023-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-04-16

AI Summary

  • Answer: We identified significant errors in accounts receivable and grant revenue during the audit.
  • Trend: Phase 3 of the grant was not recorded by the end of the reporting period (9/30/23).
  • List: Proposed adjustments total around $452,000 to correct the accounts receivable balance.

Finding Text

During the audit there were material audit adjustments we proposed to correct accounts receivable and related grant revenue. Phase 3 of the grant was not recorded as of 9/30/23. We proposed adjustments to accounts receivable for approximately $452,000 to correct the balance.

Corrective Action Plan

CTANY agrees with the recommendation that accounts receivable and related revenue should be monitored for accuracy. Due to management transition over the past two years, the CTANY board and administrative consultants are working to ensure that best practices are put in place going forward to ensure accounts receivable and related revenue are constantly monitored. In lieu of an outside bookkeeper the Treasurer of CTANY has taken QuickBooks related courses and plans to take additional continuing education as an added measure to ensure proper managing of the books and accounting records per the recommendations of this audit report.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 393341 2023-002
    Material Weakness Repeat
  • 393342 2023-003
    Material Weakness Repeat
  • 393343 2023-004
    Material Weakness
  • 969782 2023-001
    Material Weakness Repeat
  • 969783 2023-002
    Material Weakness Repeat
  • 969784 2023-003
    Material Weakness Repeat
  • 969785 2023-004
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
20.600 National Priority Safety Program, Ctany 2023 Multi-Media Statewide Awareness Campaign $1.25M