Finding Text
Program Name – Federal Transit Formula Grant and State of Good Repair Grant
Assistance Listing Number – 20.507 and 20.525
Finding Type – Significant Deficiency and Non-Compliance
Criteria – In accordance with 2CFR section 200.305(b) of the OMB compliance supplement, non-federal entities must minimize the time elapsing between the transfer of funds from the US Treasury or pass-through entity and disbursement by the non-federal entity for direct program or project costs and the proportionate share of allowable indirect costs, whether the payment is made by electronic funds transfer, or issuance or redemption of checks, warrants, or payment by other means.
Condition – During our audit we noted that the federal funds paybacks resulting from prior year grant reconciliations were not refunded in a timely manner.
Questioned Costs – Unknown
Cause/Effect – DTC is not in compliance with the cash management requirement.