Finding 52103 (2022-002)

Finding 2022-002: Special Tests and Provisions ? Residual Receipts Account Criteria In accordance with the Uniform Guidance, any surplus cash in the project funds account (including earned interest) at the end of the fiscal year shall be deposited in the residual receipts account within 90 days following the end of the fiscal year. Condition For the fiscal year ended September 30, 2021, the project had surplus cash in the amount of $31,654 that is required to be deposited in the residual receipts account. The deposit was not made until December 10, 2022. Effect The required residual receipts deposit was not made timely. Cause The project did not make the required residual receipts deposit until December 10, 2022. Questioned Costs $31,654. Context The project did not make the required residual receipts deposit until December 10, 2022. Repeat Finding No. Recommendation Management should ensure that procedures to make the required residual receipts deposit on a timely manner are followed. Auditor Noncompliance Code B ? Failure to make required residual receipts deposits; Special Tests and Provisions ? Residual Receipts Account. Finding Resolution Status Resolved. The required residual receipts deposit was made on December 10, 2022. Reporting Views of Responsible Officials Management will ensure that the required residual receipts deposits are made timely.