Finding Text
2022-002 U.S. Department of the Treasury COVID-19 ? Coronavirus State and Local Fiscal Recovery Funds ? CFDA 21.027 Criteria: Per 2 CFR section 200.328 of the Uniform Guidance, each recipient must report program outlays and program income on a cash or accrual basis, as prescribed by the federal awarding agency. Condition: As of the March 31, 2022, reporting date, the Town underreported federal expenditures by $211,064. Cause: The Town did not reconcile the Project and Expenditure report with the Town?s general ledger before submitting. Effect: The Town did not properly report grant expenditures in the Project and Expenditure report. Questioned Costs: None Repeat Finding from Prior Year: No Recommendation: The Town should implement procedures to reconcile the financial information in the Project and Expenditure reports to the Town?s general ledger before submission. Views of Responsible Official: Management agrees with the finding.