Finding 480948 (2021-002)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2021
Accepted
2024-08-12

AI Summary

  • Core Issue: There are gaps in compliance with established procedures that need immediate attention.
  • Impacted Requirements: Key regulations and internal policies are not being fully followed, risking potential penalties.
  • Recommended Follow-Up: Conduct a thorough review of current practices and provide training to ensure adherence to all requirements.

Finding Text

implemented.

Corrective Action Plan

Condition: The organization has internal control policies and procedures related to timely reconciliation of all integral accounts including but not limited to cash, accounts receivable/revenue and accounts payable/expenses. During the initial stages of the audit examination in September 2022, it was identified that the financial information submitted for audit was incomplete; there were certain integral accounts that were not reconciled. Prior to engagement and commencement of the audit, the executive director resigned, and the organization hired a new executive director. The outside contracted financial professional who was charged with the accounting system(s), including reconciliations, was let go from the position prior to commencement of field work. The board of directors and management had identified internally, prior to audit, the matter and magnitude of the current situation.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 480949 2021-003
    Material Weakness
  • 480950 2021-004
    Material Weakness
  • 1057390 2021-002
    Material Weakness
  • 1057391 2021-003
    Material Weakness
  • 1057392 2021-004
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.218 Community Development Block Grants/entitlement Grants $248,617
14.267 Continuum of Care Program $157,055
14.239 Home Investment Partnerships Program $109,007
21.023 Emergency Rental Assistance Program $100,000
97.024 Emergency Food and Shelter National Board Program $74,458
14.231 Emergency Solutions Grant Program $5,189