Finding 530288 (2024-002)

Material Weakness
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-03-26

AI Summary

  • Core Issue: Transactions were posted to incorrect accounts due to management oversight.
  • Impacted Requirements: Monthly reviews of the general ledger are essential to ensure accurate account balances.
  • Recommended Follow-Up: Management should conduct monthly reviews and investigate any discrepancies in postings.

Finding Text

Review General Ledger Transactions Our audit revealed that several transactions were posted to incorrect accounts. In order to maintain accurate account balances, it is imperative that the transactions are properly recorded in the general ledger. This occurred due to management oversight. Failure to review the general ledger monthly could result in errors or irregularities to go undetected. Recommendation We recommend that management review the transaction posted in the general ledger monthly and investigate any incorrect posting to the accounts.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 530283 2024-001
    Material Weakness
  • 530284 2024-002
    Material Weakness
  • 530285 2024-003
    Significant Deficiency
  • 530286 2024-004
    Significant Deficiency
  • 530287 2024-001
    Material Weakness
  • 530289 2024-003
    Significant Deficiency
  • 530290 2024-004
    Significant Deficiency
  • 1106725 2024-001
    Material Weakness
  • 1106726 2024-002
    Material Weakness
  • 1106727 2024-003
    Significant Deficiency
  • 1106728 2024-004
    Significant Deficiency
  • 1106729 2024-001
    Material Weakness
  • 1106730 2024-002
    Material Weakness
  • 1106731 2024-003
    Significant Deficiency
  • 1106732 2024-004
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
14.157 Supportive Housing for the Elderly $3.56M
14.195 Project-Based Rental Assistance (pbra) $267,334