Finding 517795 (2023-001)

Requirement

Questioned Costs

Year

2023

Accepted

2025-01-06

Audit: 335921

Organization: Freehold Regional High School District (NJ)

Auditor: Suplee Clooney & Company LLC

AI Summary

Answer: The District has more cash on hand than needed for three months of expenses as of June 30, 2023.
Trend: This indicates a positive financial position, showing that the District is managing its resources well.
List: Monitor cash flow regularly, ensure continued compliance with financial guidelines, and consider strategic investments of excess cash.

The District's net cash resources exceeded three months average expenditures at June 30, 2023

The BA and the food service company will review needs of the buildings to purchase necessary equipment to reduce cash flow.

ALN	Program Name	Expenditures
84.425U	Arp- Esser	$3.47M
84.027	I.d.e.a. Part B	$2.37M
21.027	Coronavirus State and Local Fiscal Recovery Funds	$1.36M
10.555	National School Lunch Program	$1.20M
84.010	Title I Grants to Local Educational Agencies	$408,980
84.425D	Crrsa- Esser II	$213,856
84.367	Title II Part A Teacher & Principal Training	$211,458
93.778	Medical Assistance Program	$141,658
12.357	Jrotc	$107,779
84.048	Vocational Education - Perkins	$87,629
10.553	School Breakfast Program	$44,795
84.027X	Arp- I.d.e.a. Part B	$44,161
84.365	Title III	$37,131
84.424	Title IV	$28,631
10.551	Healthy Hunger Free Kids Act	$22,548
10.649	Pandemic Ebt Administrative Costs	$3,256