FAC Explorer

Finding 578465 (2022-002)

Significant Deficiency
Requirement
F
Questioned Costs
$1
Year
2022
Accepted
2023-11-16
Audit: 3535
Organization: Fairfield City Board of Education (AL)
Auditor: Potter Bryant and Moore PC

AI Summary

  • Answer: A $29,500 computer server was not recorded as capitalized equipment.
  • Trend: This oversight indicates a potential pattern of misclassification in asset management.
  • List: Ensure all equipment over $5,000 is accurately classified and included in property records.

Finding Text

2 CFR Sections 200.313 (c) through (e) require equipment having a useful life of more than one year and a per-unit acquisition cost which equal or exceeds $5,000 must be maintained in the Board’s property records. A computer server costing $29,500 was not properly classified as capitalized equipment and as such, was omitted from the Board’s Fixed Asset Inventory.

Categories

Questioned Costs Equipment & Real Property Management

Other Findings in this Audit

  • 2023 2022-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $897,727
84.010 Title I Grants to Local Educational Agencies $857,309
10.558 Child and Adult Care Food Program $312,017
10.553 School Breakfast Program $257,777
84.425 Education Stabilization Fund $68,181
12.U01 Air Force Rotc $56,759
84.424 Student Support and Academic Enrichment Program $56,141
84.041 Impact Aid $38,074
84.367 Improving Teacher Quality State Grants $36,197
84.048 Career and Technical Education -- Basic Grants to States $36,148
84.126 Rehabilitation Services_vocational Rehabilitation Grants to States $26,566
10.559 Summer Food Service Program for Children $26,313
84.173 Special Education_preschool Grants $9,573
10.560 State Administrative Expenses for Child Nutrition $9,236
84.027 Special Education_grants to States $2,878
96.001 Social Security_disability Insurance $780