Finding Text
2023-005 Program Governance
Fiscal year finding initially occurred: 2022
CONDITION: Bossier Office of Community Services, Inc. failed to provide accurate monthly financial statements to its Board of Directors during the fiscal year under audit.
CRITERIA: Section 642(d)(2)(A) of the Head Start Act requires agencies to provide monthly financial statements to its Board of Directors
CAUSE: The processing and preparation of monthly financial statements was delayed as a result of significant financial management staff turnover during the first quarter of FY 22, that carried over into accounting issues for the fiscal year ending 2023.
EFFECT: The Board of Directors of Bossier Office of Community Services, Inc. may not have the complete and accurate financial information needed to make informed operational decisions.
RECOMMENDATION: Management should consider alternatives for preparing and reviewing monthly financial reports in the event financial management staff are unavailable in the future to perform these duties in a timely manner.