FAC Explorer

Finding 481059 (2023-001)

Significant Deficiency
Requirement
B
Questioned Costs
-
Year
2023
Accepted
2024-08-14
Audit: 317186
Organization: Beloved Community Charter School (NJ)
Auditor: Gerald D Longo CPA

AI Summary

  • Answer: Management needs to improve accounting procedures to minimize journal entries.
  • Trend: This change will lead to better reconciliation of ledgers and more accurate financial statements.
  • List: Recommended actions include implementing new procedures for ledger maintenance and ensuring completeness in financial reporting.

Finding Text

Recommendation: Management should implement accounting procedures that would eliminate or greatly reduce the need for journal entries to ensure ledgers are reconciled timely and properly maintained. These procedures should help ensure completeness of the general ledger and the production of accurate internal financial statements and financial information.

Corrective Action Plan

All documentation required as support for Purchase Orders created and paid will have proper documentation before any check is mailed and filed.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 481054 2023-005
    -
  • 481055 2023-005
    -
  • 481056 2023-005
    -
  • 481057 2023-005
    -
  • 481058 2023-005
    -
  • 481060 2023-002
    Significant Deficiency Repeat
  • 481061 2023-003
    Significant Deficiency Repeat
  • 481062 2023-004
    Significant Deficiency Repeat
  • 481063 2023-001
    Significant Deficiency
  • 481064 2023-002
    Significant Deficiency Repeat
  • 481065 2023-003
    Significant Deficiency Repeat
  • 481066 2023-004
    Significant Deficiency Repeat
  • 1057496 2023-005
    -
  • 1057497 2023-005
    -
  • 1057498 2023-005
    -
  • 1057499 2023-005
    -
  • 1057500 2023-005
    -
  • 1057501 2023-001
    Significant Deficiency
  • 1057502 2023-002
    Significant Deficiency Repeat
  • 1057503 2023-003
    Significant Deficiency Repeat
  • 1057504 2023-004
    Significant Deficiency Repeat
  • 1057505 2023-001
    Significant Deficiency
  • 1057506 2023-002
    Significant Deficiency Repeat
  • 1057507 2023-003
    Significant Deficiency Repeat
  • 1057508 2023-004
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
84.425U Arp Esser $1.34M
84.010 Title 1 Part A $915,878
84.425D Crrsa Esser 11 $670,348
10.555 National School Lunch $573,252
84.027A Idea Part B $330,622
84.282A Charter School Program Grant $247,030
10.553 National School Breakfast $172,085
84.367A Title 11 $83,167
10.555 National School Snack $61,183
84.365 Title III $17,339
10.555 Supply Chain Assistance $16,276
84.173A Idea Pre-School $6,482
93.778 Medical Assistance Program (semi) $5,931
10.649 Pandemic Ebt Administrative Costs $2,527