Finding 528191 (2021-003)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2021
Accepted
2025-03-14
Audit: 346250
Auditor: Rln US LLP

AI Summary

  • Answer: There were delays in billing for expenses related to federal grants.
  • Trend: The time between completing services and requesting reimbursement was longer than expected.
  • List: Follow up on improving billing processes to ensure timely reimbursements.

Finding Text

During our audit we noted that there were instances where billing for expenses associated with federal grants was not carried out in a timely manner. This delay was evidenced by the time laps between the completion of services and the request for reimbursement to agencies.

Corrective Action Plan

The Accounting department has established policies and procedures to ensure that grant billing is done properly and reconciled monthly. Part of the CFO and Controller’s duty is to ensure that grant billing is reconciled monthly, and there are no variances or discrepancies with the billing, drawdowns, and expenses. Last, the CFO and Controller are currently working diligently to ensure grant billing is properly done in the period the expenses are incurred.

Categories

Cash Management

Other Findings in this Audit

  • 528192 2021-004
    Significant Deficiency Repeat
  • 528193 2021-003
    Material Weakness Repeat
  • 528194 2021-004
    Significant Deficiency Repeat
  • 1104633 2021-003
    Material Weakness Repeat
  • 1104634 2021-004
    Significant Deficiency Repeat
  • 1104635 2021-003
    Material Weakness Repeat
  • 1104636 2021-004
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
12.041 Engineering $3.86M
12.300 Basic and Applied Scientific Research $3.58M