Finding 500927 (2023-001)

Material Weakness

Requirement

Questioned Costs

Year

2023

Accepted

2024-09-30

Audit: 323230

Organization: Coquille Watershed Association (OR)

Auditor: Grimstad & Assoc

AI Summary

Issue: There is a material weakness in internal controls related to accounting corrections.
Trend: The auditor identified and CoqWA approved significant adjustments to ensure the financial statements are accurate.
Follow-up: Review internal controls to prevent future material adjustments and ensure ongoing accuracy in financial reporting.

Finding Text

Material Weakness - Internal Control - Accounting Corrections The auditor calculated, and CoqWA approved recording several material adjustments to the financial statements in order for the audited financial statements to be materially correct.

Corrective Action Plan

Views of Responsible Officials and Planned Corrective Actions - We agree with this finding. CoqWA was successful in hiring an Executive Director in 2023, and an Office Manager in 2024 who provides bookkeeping services. Training was provided to both employees, and CoqWA will continue to schedule trainings for new staff with an emphasis on accrual accounting for the Office Manager who performs the bookkeeping function.

Other Findings in this Audit

1077369 2023-001

Material Weakness

Programs in Audit

ALN	Program Name	Expenditures
11.463	Habitat Conservation	$72,923
15.614	Coastal Wetlands Planning, Protection and Restoration	$60,920
15.015	Good Neighbor Authority	$28,128
15.630	Coastal	$11,488
15.234	Secure Rural Schools and Community Self-Determination	$9,769
15.244	Aquatics Resources Management	$7,512
15.245	Plant Conservation and Restoration Management	$6,295
15.228	Blm Fuels Management and Community Fire Assistance Program Activities	$5,393
15.230	Invasive and Noxious Plant Management	$4,526
21.027	Coronavirus State and Local Fiscal Recovery Funds	$2,864
15.631	Partners for Fish and Wildlife	$1,808
11.438	Pacific Coast Salmon Recovery Pacific Salmon Treaty Program	$661