Finding 393918 (2019-003)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2019
Accepted
2024-04-22
Audit: 304077
Auditor: Rln US LLP

AI Summary

  • Answer: There were delays in billing for federal grant expenses.
  • Trend: The time between service completion and reimbursement requests is increasing.
  • List: Follow up by reviewing billing processes and implementing timely submission protocols.

Finding Text

The billing for expenses associated with federal grants was not carried out in a timely manner. This delay was evidenced by the time laps between the completion of services and the request for reimbursement to agencies.

Corrective Action Plan

The ASEE accounting department has established policies and procedures to ensure that cash is fully reconciled on a monthly basis. Part of the CFO and Controller’s duty is to ensure cash is fully reconciled monthly and there are no variances or discrepancies with cash. In addition, the CFO and Controller work together to ensure grant billing is done properly in the period the expenses are incurred.

Categories

Cash Management

Other Findings in this Audit

  • 393917 2019-004
    Significant Deficiency Repeat
  • 393919 2019-005
    Material Weakness
  • 393920 2019-003
    Material Weakness Repeat
  • 393921 2019-005
    Material Weakness
  • 393922 2019-003
    Material Weakness Repeat
  • 393923 2019-006
    Material Weakness
  • 970359 2019-004
    Significant Deficiency Repeat
  • 970360 2019-003
    Material Weakness Repeat
  • 970361 2019-005
    Material Weakness
  • 970362 2019-003
    Material Weakness Repeat
  • 970363 2019-005
    Material Weakness
  • 970364 2019-003
    Material Weakness Repeat
  • 970365 2019-006
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
12.300 Basic and Applied Scientific Research $11.31M
12.800 Air Force Defense Research Sciences Program $9.48M
47.041 Engineering $1.67M
47.076 Education and Human Resources $563,919