Finding 514303 (2024-001)

Material Weakness
Requirement
B
Questioned Costs
-
Year
2024
Accepted
2024-12-14

AI Summary

  • Issue: Accounts payable balance is off by $34,422 compared to the subledger, with an overstatement of $18,972.
  • Trend: Inadequate internal controls are leading to misrecorded accounts payable and corresponding expenses.
  • Follow-up: Implement stronger controls to ensure accurate recording and tracking of accounts payable.

Finding Text

Condition: The accounts payable balance did not agree to the accounts payable subledger by a diffrence of $34,422. Addtionally based on testing accounts payable were overstated by $18,972. Internal controls should be in place to accurataley record and track accounts payable. because of the failure to not adequately maintain accounts payable corresponding expenses were not preoeplry recorded.

Corrective Action Plan

The Organization agrees with the findings and recommendation procedures have been implemented.

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1090745 2024-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
14.181 Supportive Housing for Persons with Disabilities $1.02M
14.195 Section 8 Housing Assistance Payments Program $40,580