Finding 50156 (2022-002)

- Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2022-11-20

AI Summary

  • Core Issue: The Academy's food service fund had cash resources exceeding the limit set by USDA regulations.
  • Impacted Requirements: Noncompliance with 7 CFR Part 210, which mandates cash resources not exceed three months of average expenditures.
  • Recommended Follow-Up: The Academy should implement a plan to reduce cash resources to meet regulatory limits.

Finding Text

2022-002 Condition and Criteria: The U.S. Department of Agriculture regulation located at 7 CFR Part 210, Subpart C, Section 210.14(b) states that the food service fund is to limit its net cash resources to an amount that does not exceed 3 months average expenditures. The cash and due from other funds balances in the Academy's food service fund exceeded the allowable amount at June 30, 2022. Cause: While the appropriate Academy employees were aware of the applicable compliance requirements, the Academy did not spend the necessary amount to reduce fund balance to the allowable limit. Effect: Noncompliance with the requirements of the Code of Federal Regulations. Recommendation: The Academy should develop and implement a plan to reduce its net cash resources to the allowable limit. Management Response: The Academy has developed a corrective action plan that addresses this finding.

Corrective Action Plan

2022-002 Condition and Criteria: The U.S. Department of Agriculture regulation located at 7 CFR Part 210, Subpart C, Section 210.14(b) states that the food service fund is to limit its net cash resources to an amount that does not exceed 3 months average expenditures. The cash and due from other funds balances in the Academy's food service fund exceeded the allowable amount at June 30, 2022. Cause: While the appropriate Academy employees were aware of the applicable compliance requirements, the Academy did not spend the necessary amount to reduce fund balance to the allowable limit. Effect: Noncompliance with the requirements of the Code of Federal Regulations. Recommendation: The Academy should develop and implement a plan to reduce its net cash resources to the allowable limit. Management Response: The The Academy through its management company has developed processes to ensure all costs related to the operation of the food service fund are properly recorded. Additionally, the Academy subsequent to year, made significant purchases to upgrade the kitchen equipment further spending the necessary amount to reduce the fund balance to the allowable limit.

Categories

Cash Management School Nutrition Programs

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $401,967
84.371 Striving Readers $372,671
84.027 Special Education_grants to States $240,716
10.553 School Breakfast Program $153,591
84.425 Education Stabilization Fund $132,028
10.559 Summer Food Service Program for Children $64,931
84.367 Improving Teacher Quality State Grants $45,403
84.010 Title I Grants to Local Educational Agencies $29,088
21.019 Coronavirus Relief Fund $22,336
84.173 Special Education_preschool Grants $17,239
84.424 Student Support and Academic Enrichment Program $16,396
10.582 Fresh Fruit and Vegetable Program $9,755
93.778 Medical Assistance Program $1,553
10.649 Pandemic Ebt Administrative Costs $614
10.558 Child and Adult Care Food Program $474