Finding Text
INTERNAL CONTROLS OVER FEDERAL PROGRAMS - CONDITION: THE VILLAGE DOES NOT HAVE WRITTEN POLICIES AND PROCEDURES FOR INTERNAL CONTROLS OVER FEDERAL PROGRAMS. CRITERIA: THE UNIFORM GUIDANCE REQUIRES AUDITEES TO HAVE WRITTEN POLICIES AND PROCEDURES FOR INTERNAL CONTROLS OVER FEDERAL PROGRAMS. CAUSE: THE VILLAGE DOES NOT ROUTINELY HAVE FEDERAL GRANTS AND HAS NOT FORMALLY DOCUMENTED ITS POLICIES AND PROCEDURES. EFFECT: THE VILLAGE MAY FAIL TO TIMELY DETECT AND CORRECT NONCOMPLIANCE WITHOUT A DOCUMENTED AND COMMUNICATED POLICIES AND PROCEDURE FOR FEDERAL PROGRAMS. RECOMMENDATION: THE VILLAGE SHOULD CONSIDER DOCUMENTING THE CURRENT POLICIES AND PROCEDURES TO FORMALIZE INTERNAL CONTROLS OVER FEDERAL PROGRAMS AND FINANCIAL REPORTING. MANAGEMENT'S RESPONSE: THE VILLAGE HAS BEEN MADE AWARE OF THE REQUIREMENTS AND WILL DEVELOP FORMAL POLICIES AND PROCEDURES OVER FEDERAL PROGRAMS THAT ARE APPROPRIATE FOR THE SIZE OF THE VILLAGE.