Finding Text
Significant Deficiency: As discussed at Finding 2023-004, During the course of our audit, it was revealed that the Utilities Board had not recorded transactions related to grant transactions. Because of the failure
to timely record grant transactions in the general ledger, the Board submitted incomplete records to the auditor at the start of the audit which led to audit delays. Additionally, the failure to timely record grant
transactions, increased the risk that fraud or error material noncompliance may have occurred and not detected timely. To ensure all transactions are recorded, we recommend that the Utilities Board general ledger and bank statements are reviewed monthly to ensure all transactions have been posted.