Finding Text
2022-003 Compliance and Internal Control Finding - Economic Adjustment Assistance ? Economic Development Administration (11.307) Reporting Criteria The Council is required to an ED-209 report to the Economic Development Administration on a semiannual basis. Certain key line items on the reports should match the accounting records of the Council. Condition The Cash Available for Lending line on the ED-209 report for the period ending March 31, 2022 did not match the cash available on the Council?s accounting records. Cause The Council was using a different means of calculating the amount of cash available for lending. Effect The key line item of cash available for lending on the ED-209 report did not match the Council?s accounting records. Recommendation We recommend that the Council ensures that all key line items in the ED-209 report match the accounting records of the Council before submission. Views of Responsible Officials and Planned Corrective Actions The Council recognizes the deficiency and will immediately take the appropriate steps to ensure accurate reporting going forward. See corrective action plan item 2021-003. Indication of repeat finding This is a repeat finding. See finding 2021-003.