FAC Explorer

Finding 496991 (2020-001)

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Requirement
E
Questioned Costs
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Year
2020
Accepted
2024-09-17
Audit: 319746
Organization: Hyde Leadership Charter School - Brooklyn (NY)
Auditor: Lutz and Carr CPAS LLP

AI Summary

  • Answer: There are gaps in how we keep records and track spending for restricted grants.
  • Trend: These issues have been increasing, leading to potential compliance risks.
  • List: Review current tracking methods, improve documentation processes, and ensure staff training on grant requirements.

Finding Text

Recordkeeping and Tracking for Restricted Grants

Corrective Action Plan

Hyde Leadership Charter School – Brooklyn will implement procedures to track and manage expenditures reimbursable by federal awards. The accounting system will be updated to track and capture federal expenditures separately from general expenditures. Management and Hyde Leadership Charter School – Brooklyn’s financial service provider will review federal expenses incurred prior to submitting for reimbursement.

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.184 Safe and Drug-Free Schools and Communities_national Programs $422,480
84.351 Arts in Education $363,212
84.010 Title I Grants to Local Educational Agencies $16,686
84.367 Improving Teacher Quality State Grants $12,500
84.424 Student Support and Academic Enrichment Program $6,277