Answer: The District lacks a proper internal control system for preparing financial statements and federal award expenditure schedules.
Trend: This gap in controls can lead to inaccuracies in financial reporting and compliance issues.
List: Recommend implementing a robust internal control system to ensure accurate financial reporting and compliance with federal requirements.
Finding Text
The District does not have an internal control system designed to provide for the preparation of the financial statements and the schedule of expenditures of federal awards being audited.