Finding Text
Criteria: Uniform Guidance requires written procedures for cash management and determining the allowability of costs in accordance with Subpart E – Cost Principals. Condition: Crowhaven Apartments, Inc. did not have written procedures for cash management (2 CFR 200.302(b)(6)) and allowable costs determination (2 CFR 200.302(b)(7)) in accordance with Uniform Guidance requirements. Questioned Costs: $0 Cause: Crowhaven Apartments, Inc.’s written policies and procedures were not updated to include required Uniform Guidance policies. Effect: Crowhaven Apartments, Inc. could enter into a transaction that is not in compliance with Uniform Guidance requirements. Recommendation: We recommend Crowhaven Apartments, Inc. draft and adopt written procedures in accordance with Uniform Guidance requirements. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding and are in process of developing and implementing the appropriate policies and procedures.