Finding 575676 (2023-002)

Material Weakness
Requirement
A
Questioned Costs
-
Year
2023
Accepted
2025-09-05

AI Summary

  • Core Issue: The Organization failed to document and retain meeting minutes for both the Board of Directors and the finance committee.
  • Impacted Requirements: Lack of meeting minutes hinders the ability to verify governance oversight and assess the completeness of financial transactions.
  • Recommended Follow-Up: Ensure that all future meeting minutes are documented, securely stored, and easily accessible.

Finding Text

Criteria: The Organization must document and retain meeting minutes for both the Board of Directors and the finance committee. Condition: The Organization was unable to provide documented meeting minutes for the Board of Directors or for the finance committee. Cause: The Organization held its board of director meetings virtually through Zoom. The Zoom video files were retained by the Organization, however these electronic video files were inaccessible due to a technical error. No meeting minutes or electronic video files were retained for the finance committee. Effect: The auditors were unable to obtain sufficient evidence regarding the completeness of governance oversight. These minutes are necessary to verify the authorization and approval of significant transactions and activities reflected in the financial statements. As a result, we were unable to determine whether any adjustments might have been necessary. Recommendation: The Organization should document and retain meeting minutes for both the board of directors and the finance committee. These meeting minutes should be stored securely and readily accessible as needed. Management Response: The Organization will ensure that all meeting minutes are documented and securely retained moving forward.

Corrective Action Plan

The Organization will document and retain meeting minutes for both the board of directors and the finance committee. These meeting minutes will be stored securely and readily accessible as needed.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.53M