Finding Text
Unidentifiable Federal Funds
Information on the Federal Program: Coronavirus State and Local Fiscal Recovery Funds (AL
Number 21.027) – U.S. Department of the Treasury
Criteria: 2 CFR 200.302 (b) (1) -The financial management system of each non-federal entity must
provide for the identification, in its accounts, of all federal awards received and expended and the
federal programs under which they were received. federal program and federal award identification
must include, as applicable, the Assistance Listings title and number, federal award identification
number and year, name of the federal agency, and name of the pass-through entity, if any.
Condition: Federal funds totaling $138,700 were not identified within the accounts of the
University’s financial management system. These funds were posted in a payment holding account
and were not identifiable as federal funds.
Questioned Cost: $-0-
Cause: The internal controls in place to ensure the identification of all federal payments received and
expended failed to identify the above funds as federal funds.
Effect: Without further investigation into the holding account, these funds would not have been
identifiable within the University’s financial management system and would have been excluded from
the Schedule of Expenditures of federal Awards.
Recommendation: We recommend the University review the controls in place to identify federal
funds and enhance if warranted.