Finding 497024 (2021-001)

- Repeat Finding

Requirement

Questioned Costs

Year

2021

Accepted

2024-09-17

Audit: 319761

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 Executive Director 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

Other Findings in this Audit

497025 2021-002

-
1073466 2021-001

- Repeat
1073467 2021-002

-

Programs in Audit

ALN	Program Name	Expenditures
84.184	Safe and Drug-Free Schools and Communities_national Programs	$372,654
84.351	Arts in Education	$363,212
84.010	Title I Grants to Local Educational Agencies	$243,968
10.575	Farm to School Grant Program	$73,965
84.282	Charter Schools	$49,788
84.367	Improving Teacher Quality State Grants	$26,927
84.010	Improving Teacher Quality State Grants	$16,920
84.424	Student Support and Academic Enrichment Program	$15,680
84.425	Education Stabilization Fund	$8,628