Finding Text
2024-006 Financial Management
Fiscal year finding initially occurred: 2024
CONDITION: While performing audit procedures, it was noted that numerous
special revenue grant funds were not being reconciled from grant reimbursement
request to the district's detailed accounting records in a timely manner.
CRITERIA: 2 CFR 1.200.302(b) Financial Management requires that the financial
management system of a non-Federal entity provide for records that identify
adequately the source and application of funds for federally funded activities.
These records must contain information pertaining to Federal awards,
authorizations, financial obligations, unobligated balances, assets, expenditures,
income and interest and be supported by source documentation.
CAUSE: The reconciliations of detailed accounting records to grant program
requests for reimbursement were not performed in a timely manner during FY 24.
EFFECT: Inaccurate, incomplete and untimely grant program requests for
reimbursement may result in the school district requesting incorrect grant funding
under various grant awards.
RECOMMENDATION: All supporting accounting records should be reviewed
and reconciled to grant program draw down requests on a regular basis to ensure
complete, accurate, and timely financial information is used to request grant
funding.