Finding 525806 (2024-006)

2024-006: Schedule of Expenditures of Federal Awards Criteria or specific requirement (including statutory, regulatory, or other citation): It is the responsibility of Village management to design and implement internal controls that provide reasonable assurance over the completeness and accuracy of the schedule of expenditures of federal awards (SEFA). Condition: The Village’s SEFA required significant adjustments in order to be in accordance with the requirements of the Uniform Guidance. Cause: Internal controls were not appropriately designed and implemented to ensure the accuracy of the SEFA. Effect or Potential Effect: Due to the error, the Village’s SEFA was materially misstated prior to adjustments during the external audit. Questioned Costs: None. Identification as a Repeat Finding, If Applicable: Not applicable. Recommendation: Policies and procedures should be implemented to verify the completeness and accuracy of the SEFA. The Village should implement review procedures to ensure that every federal award listed on the SEFA contains the accurate value of federal expenditures. Views of Responsible Officials: As detailed within the Corrective Action Plan, management has agreed to the findings and recommendations above.