FAC Explorer

Finding 515757 (2024-003)

-
Requirement
F
Questioned Costs
-
Year
2024
Accepted
2024-12-18
Audit: 333605
Organization: Detroit Transportation Corporation (MI)
Auditor: Alan C Young & Associates PC

AI Summary

  • Answer: DTC failed to conduct the required physical inventory of federally funded equipment within the specified two-year timeframe.
  • Trend: This noncompliance indicates a potential pattern of oversight in asset management practices.
  • List: Follow up by ensuring DTC establishes a schedule for regular inventories and reviews compliance with federal guidelines.

Finding Text

Criteria – As per uniform guidance compliance requirements for Equipment and Real Property management, a nonfederal entity is required to conduct a physical inventory of assets at least every 2 years. Condition – DTC did not complete the physical inventory of equipment acquired with federal funds within the time specified by the compliance requirements. Questioned Costs – Unknown Cause/Effect – DTC has not complied with the requirements for Equipment and Real Property management.

Corrective Action Plan

Physical inventory shall be performed on or before June 30, 2025 as per uniform guidance requirements for equipment and real property management.

Categories

Equipment & Real Property Management

Other Findings in this Audit

  • 515748 2024-002
    Material Weakness Repeat
  • 515749 2024-002
    Material Weakness Repeat
  • 515750 2024-002
    Material Weakness Repeat
  • 515751 2024-002
    Material Weakness Repeat
  • 515752 2024-002
    Material Weakness Repeat
  • 515753 2024-002
    Material Weakness Repeat
  • 515754 2024-002
    Material Weakness Repeat
  • 515755 2024-002
    Material Weakness Repeat
  • 515756 2024-002
    Material Weakness Repeat
  • 515758 2024-003
    -
  • 1092190 2024-002
    Material Weakness Repeat
  • 1092191 2024-002
    Material Weakness Repeat
  • 1092192 2024-002
    Material Weakness Repeat
  • 1092193 2024-002
    Material Weakness Repeat
  • 1092194 2024-002
    Material Weakness Repeat
  • 1092195 2024-002
    Material Weakness Repeat
  • 1092196 2024-002
    Material Weakness Repeat
  • 1092197 2024-002
    Material Weakness Repeat
  • 1092198 2024-002
    Material Weakness Repeat
  • 1092199 2024-003
    -
  • 1092200 2024-003
    -

Programs in Audit

ALN Program Name Expenditures
20.507 Federal Transit Formula Grants $3.08M
20.525 State of Good Repair Grants Program $2.53M
20.513 Enhanced Mobility of Seniors and Individuals with Disabilities $708,510
20.205 Highway Planning and Construction $76,120