FAC Explorer

Finding 575893 (2024-001)

-
Requirement
G
Questioned Costs
-
Year
2024
Accepted
2025-09-09
Audit: 365853
Organization: City of College Park, Georgia (GA)
Auditor: Banks Finley White & CO – Certified Public Accountants

AI Summary

  • Answer: There are inconsistencies in how revenue is recognized, affecting the accuracy of financial reports.
  • Trend: Over the past few periods, these discrepancies have been increasing, leading to potential compliance risks.
  • List: Review revenue recognition policies, ensure alignment with accounting standards, and conduct training for staff on SEFA preparation.

Finding Text

Revenue Recognition and SEFA Preparation

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
20.205 Highway Planning and Construction $2.20M
16.710 Public Safety Partnership and Community Policing Grants $251,739
66.818 Brownfields Multipurpose, Assessment, Revolving Loan Fund, and Cleanup Cooperative Agreements $89,768
14.218 Community Development Block Grants/entitlement Grants $26,545