Finding 405725 (2023-002)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-07-01

AI Summary

  • Core Issue: St. Francis lacks a robust internal control system for preparing the Schedule of Expenditures of Federal Awards, leading to potential inaccuracies.
  • Impacted Requirements: Compliance with federal financial reporting standards is at risk due to inadequate internal controls.
  • Recommended Follow-Up: Management should enhance awareness of financial reporting requirements and strengthen internal controls to ensure accurate preparation of the Schedule.

Finding Text

Department of Health and Human Services Federal Assistance Listing #93.498 COVID-19 Provider Relief Fund and American Rescue Plan Applicable Federal Award Number and Year – Period 4 TIN #203367397, Period 4 TIN #411668347, Period 4 TIN #411879639, Period 4 TIN #411799268, Period 4 TIN #200100365, Period 4 TIN #411810369, Period 4 TIN #463626109, Period 4 TIN #205617275, Period 4 TIN #202581924, Period 4 TIN #411843283, Period 4 TIN #237625632, Period 4 TIN #510487275, Period 4 #411598442, and Period 5 TIN #810910949. Preparation of Schedule of Expenditures of Federal Awards Material Weakness in Internal Control Over Compliance Criteria: Proper controls over financial reporting include the ability to prepare the consolidated schedule of expenditures of federal awards (Schedule) and accompanying notes to the Schedule. Condition: St. Francis does not have an internal control system to provide for a complete and accurate Schedule being audited. As auditors, we assisted with the preparation of the Schedule. Cause: Auditor assistance with preparation of the Schedule is not unusual as the Schedule has unique and specialized requirements and preparation is only required when St. Francis meets a specified threshold of federal expenditures. Effect: There is a reasonable possibility that St. Francis would not be able to draft the Schedule that is correct without the assistance of the auditors. Recommendation: While we recognize that this condition is not unusual for an organization with limited staffing, we recommend management be aware of the financial reporting requirements relating to St. Francis’ Schedule and the internal controls that impact financial reporting. Views of Responsible Officials: Management agrees with the finding.

Corrective Action Plan

Preparation of Schedule of Expenditures of Federal Awards Material Weakness in Internal Control Over Compliance Initial Fiscal Year Finding Occurred: 2023 Finding Summary: St. Francis does not currently have an internal control system to provide for a complete and accurate schedule of expenditures of federal awards (the Schedule). The auditors assisted in the preparation of the Schedule. Responsible individuals: Mari Chambers, Chief Financial Officer Status: Ongoing. It is not cost effective to have an internal control system designed to provide for the preparation of the Schedule. We will continue to have our auditors assist in the preparation as part of the audit.

Categories

Reporting Material Weakness

Other Findings in this Audit

  • 982167 2023-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
93.498 Provider Relief Fund $4.96M