Finding Text
2021-004 Financial Reporting for Federal and State Awards Condition: The Uniform Guidance and the State Single Audit Guidelines require the District to prepare appropriate financial statements, including the schedules of expenditures of federal and state awards. Criteria: Having staff prepare the District?s schedules of expenditures of federal and state awards is an internal control intended to prevent, detect and correct a potential misstatement in the schedules or accompanying notes to the schedules. Cause: The District has staff with the knowledge to prepare the schedules of federal and state awards, however sufficient time was not allocated to complete the schedules. Effect: The schedules of federal and state awards were not prepared by the District, instead they were prepared by the District?s auditors. Identification of a Repeat Finding: This is a new finding for the 2020-2021 fiscal year. Recommendation: The District should attempt to allocate sufficient time to complete the schedules of expenditures of federal and state awards. Views of Responsible Official: See District?s corrective action plan.