Finding Text
2022-005 Federal Agency: U.S. Department of Education Pass Thru Entity: Oklahoma State Department of Education Program: COVID-19 Education Stabilization Fund Assistance Listing: COVID-19- 84.425D & 84.425U Grant Period: Year ending June 30, 2022 Condition: Property acquired with federal funds were not tracked in property records. Criteria: 2 CFR 200.313(d)(1) requires property records must be maintained that include a description of the property, serial number or other identification number, the source of funding for the property, who holds title, the acquisition date, the cost of the property, percentage of the federal project costs under which property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. Cause: Failure to identify property and record on district inventory listing for federal programs. Context: A sample of $219,936 was selected for audit from a population of $232,477. The test found $219,936 was not in compliance. Effect: The expenditures may be disallowed. Recommendation: We recommend that property be properly tracked. We also recommend that procedures be put in place to properly identify property transaction and track property acquired with federal funds. Repeat Finding from Prior Year: Yes, Finding 2021-XIV Views of Responsible Officials and Planned Corrective Action: District will hire an asset management company, which will complete an initial database of District property and barcode items. Afterwards, District will maintain database. Encumbrance clerk has implemented new procedures to monitoring the coding of items greater than $5,000 with life longer than a year is properly coded in OCAS. Federal Programs Director will manage budgets and make sure if property/equipment will be purchased it is budgeted and proper approval to be obtained before purchase. Federal Program Director will also monitor during claim process, property items have been identified and tracked on District equipment listing.