FAC Explorer

Finding 478707 (2023-001)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-07-17
Audit: 315376
Organization: Alabama Aerospace and Aviation Schools Inc. (AL)
Auditor: Horton Lee Burnett Peacock Cleveland & Grainger PC

AI Summary

  • Core Issue: The Data Collection Form for the year ended September 30, 2023 was filed late due to insufficient internal controls over Federal financial reporting.
  • Impacted Requirements: Management must ensure timely filing of financial documents as per established accounting principles.
  • Recommended Follow-Up: Implement stronger internal controls to ensure the Data Collection Form is submitted on time in the future.

Finding Text

Criteria - Management is responsible for establishing and maintaining effective internal controls and for the fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America. Condition - The Data Collection Form for the year ended September 30, 2023 was not filed with the Federal Audit Clearinghouse within nine months after year end. Cause - The late filing resulted from a lack of internal controls over Federal financial reporting. Effect - The Data Collection Form for the year ended September 30, 2023 was not filed with the Federal Audit Clearinghouse within nine months after year end. Recommendation - We recommend that the School should implement controls to complete the timely submission of the Data Collection Form. Management response - See corrective action plan provided by the CEO.

Corrective Action Plan

1) Finding 2023-001 - The Data Collection Form for the year ended September 30, 2023 was not filed with the Federal Audit Clearinghouse within nine months after year end. Implementation of plan of action - Management will work with the auditors for timely completion of the audit and filing of the Data Collection Form. Implementation date - Anticipated completion July 30, 2024. Persons responsible for the implementation - The Board of Directors and CEO.

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.282 Charter Schools $524,771
84.287 Twenty-First Century Community Learning Centers $180,000
84.027 Special Education_grants to States $49,679
10.555 National School Lunch Program $20,811
84.010 Title I Grants to Local Educational Agencies $20,353
10.553 School Breakfast Program $4,821
84.424 Student Support and Academic Enrichment Program $4,304
84.367 Improving Teacher Quality State Grants $3,161