Answer: There is insufficient documentation for vendors and contractors, leading to unclear expense classifications.
Trend: This issue has been recurring, indicating a need for better oversight and processes.
List: Review and improve documentation practices, ensure proper expense classification, and conduct regular audits to maintain compliance.
Finding Text
Lack of proper Vendor/Contractor Documentation and Expense Classification
Corrective Action Plan
Maintain complete files for each vendor/contractor, including W9s, contracts, and payment records. Develop and use a cost allocation method to separate expenses across program, management, and fundraising functions.