Answer: A prior period adjustment was made to reflect $4,357,500 in FEMA funds and $4,576,256 in SCIIP grant receivables.
Trend: This adjustment indicates ongoing financial management and compliance with grant reporting requirements.
List: Follow up on the accuracy of these adjustments and ensure proper documentation is maintained for future audits.
Finding Text
3. Recording a prior period adjustment to opening retstricted net assets and grant receivable for $4,357,500 from FEMA, and $4,576,256 from SCIIP grant.