Finding 573517 (2024-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-08-13

AI Summary

  • Answer: We identified significant errors in accounts receivable and grant revenue during the audit.
  • Trend: Proposed adjustments total around $812,000 to correct these balances.
  • List: Follow up on implementing these adjustments to ensure accurate financial reporting.

Finding Text

During the audit there were material audit adjustments we proposed to correct accounts receivable and related grant revenue. We proposed adjustments to accounts receivable and related revenue for approximately $812,000 to correct the balance.

Corrective Action Plan

CTANY agrees with the recommendation that accounts receivable and related revenue should be monitored for accuracy. Due to management transition over the past few years, the CTANY board and administrative consultants are working to ensure that best practices are put in place going forward to ensure accounts receivable and related revenue are constantly monitored. In lieu of an outside bookkeeper the CTANY is now working with an outside consultant that has worked with CTANY is past years, to ensure proper managing of the books and accounting records per the recommendations of this audit report.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1149959 2024-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
20.600 2024 Ctany Hsg Multi-Media Statewide Outreach Campaign $1.24M