Finding 570503 (2022-003)

Significant Deficiency
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2025-07-07
Audit: 361490
Organization: City of Princeton (IN)
Auditor: Crowe LLP

AI Summary

  • Core Issue: The City lacked proper controls to ensure the annual report for the federal program was accurate and complete.
  • Impacted Requirements: Compliance with 2 CFR 200.302(b) and 34 CFR 76.722 regarding accurate financial reporting.
  • Recommended Follow-Up: Implement a review process where someone other than the preparer checks the report for accuracy before submission.

Finding Text

FINDING 2022-003 Information on the federal program: Subject: Water and Waste Disposal Systems for Rural Communities – Reporting Federal Agency: U.S. Department of Agriculture Assistance Listing Number: 10.760 Federal Award Number: 92-02 92-03 Pass-Through Entity: N/A Compliance Requirements: Reporting Audit Findings: Significant Deficiency Criteria: 2 CFR 200.302(b) states in part: "The financial management system of each non-Federal entity must provide for the following: (2) Accurate, current, and complete disclosure of the financial results of each Federal award or program in accordance with the reporting requirements set forth in §§ 200.328 Financial reporting . . . ." 34 CFR 76.722 states: "A State may require a subgrantee to submit reports in a manner and format that assists the State in complying with the requirements under 34 CFR 76.720 and in carrying out other responsibilities under the program." Condition: The City did not have proper controls in place to ensure that the annual report was accurately filled out and agreed to underlying detail. Cause: There were not sufficient internal controls in place to ensure the accuracy of the annual report prior to its submission. Effect: The failure to establish an effective internal control system placed the City at risk of noncompliance with the grant agreement and the Reporting compliance requirements. Questioned Costs: There were no questioned costs identified. Context: Variances to key line items were noted when comparing the Form RD442-2 and Form RD442-3 to supporting documents. Identification as a repeat finding, if applicable: No Recommendation: We recommend someone other than the preparer thoroughly review and document the review of the report prior to submission to validate the accuracy and completeness of the data submitted. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding and has prepared a corrective action plan.

Corrective Action Plan

FINDING 2022-003 Information on federal program: Subject: Water and Waste Disposal Systems for Rural Communities - Reporting Federal Agency: U.S. Department of Agriculture Assistance Listing Number: 10.760 Federal Award Number: 92-02 92-03 Pass-Through Entity: N/A Compliance Requirements: Reporting Audit Findings: Significant Deficiency Condition: The City did not have proper controls in place to ensure that the annual report was accurately filled out and agreed to underlying detail. Context: Variances to key line items were noted when comparing the Form RD442-2 and Form RD442-3 to supporting documents. Views of Responsible Officials: We concur with the finding. Description of Corrective Action Plan: Management will ensure that reports agree to underlying detail. Responsible Party and Timeline for Completion: The Clerk-Treasurer is the responsible party. The completion will go into effect during 2025.

Categories

Subrecipient Monitoring Reporting Significant Deficiency Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

  • 570502 2022-002
    Significant Deficiency
  • 1146944 2022-002
    Significant Deficiency
  • 1146945 2022-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
10.760 Water and Waste Disposal Systems for Rural Communities $1.42M
21.027 Covid-19 - Coronavirus State and Local Fiscal Recovery Funds $193,347