Finding Text
Criteria: According to federal regulations 2CFR Part 200.313(d)(1), Property records must be maintained that include a description of the property, a serial number or other identification number, the source of funding for the property (including the FAIN), who holds title, the acquisition date, and cost of the property, percentage of Federal participation in the project costs for the Federal award under which the property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property. Condition: The District was unable to provide documentation to trace technology equipment inventory records to the funding source. Cause: The District does not currently include the source of funding for technology equipment within its property records. Effect: The failure to maintain complete property records could result in deobligation or loss of funding. Context: We asked the District if they could identify within their property records the funding source that was used to purchase the underlying asset(s) and they were unable to do so. Recommendation: We have advised management to resolve the current noncompliance finding by including the funding source for both the current and future property. Views of Responsible Officials and Planned: The District agrees with the finding and will update the current property records to include the grant funding and source and will implement procedures to include this information moving forward. Audit Follow-Up Procedures
We did not perform any follow-up procedures since there were no findings from the previous year.