Section B- Financial Statement Findings Material Weakness 2022-001 Fully Adjusted Accounts Bridges had a transition in Finance Manager following June 30, 2022 year end. The hired Finance Manager did not have sufficient training in Generally Accepted Accounting Principles (GAAP), which resulted in several adjustments to the Grant revenue and grant expenditures after the year end when the fiscal year should have already been closed and statements had already been provided to the auditors. Plan: The Finance Manager?s employment at Bridges was terminated after senior management became aware of errors. Goldin Group CPA firm was hired as an external CFO in March 2023. They have extensive knowledge of GAAP standards and will ensure that all Account balances for cash, grants receivables, grant revenue and related grant expenditures for Bridges to Housing Stability are accurate for Fiscal Year 2023 ending June 30, 2023. Jennifer Broderick, Executive Director will also attend training in GAAP and reading and reviewing financial statements to ensure statements are reasonable and that Goldin Group CPA firm staff and Bridges? internal finance staff have appropriately applied GAAP. This will be completed by October 30th, 2023, before the audit of year ending June 30, 2023. Accountable Owner: Jennifer Broderick, Executive Director Target Completion Date: October 30, 2023 Action Start Date: March 1, 2023 Progress: Bridges replaced staff with more trained & skilled CPA firm in March 2023. Jennifer Broderick has 8 hours of Financial Management and Nonprofit accounting courses set up for September and October 2023. Section C- Federal Award Findings and Questioned Costs Material Weakness 2021-001 Fully Adjusted Accounts Program CFDA 21.023 Bridges had a transition in Finance Manager following June 30, 2022 year end. The hired Finance Manager did not have sufficient training in Generally Accepted Accounting Principles (GAAP), which resulted in several adjustments to the Grant revenue and grant expenditures after the year end when the fiscal year should have already been closed and statements had already been provided to the auditors. The CFDA 21.023 was new to Bridges to Housing Stability, and there were issues with the reporting platform used by Bridges to Report rental Assistance to the local funder (Howard County DHCD). The technical issues were not solved until late in FY2023, causing delays in completion of the SEFA. Plan: The Finance Manager?s employment was terminated after senior management became aware errors. Goldin Group CPA firm was hired as an external CFO in March 2023. They have extensive knowledge of GAAP standards and will ensure that all Account balances for cash, grants receivables, grant revenue and related grant expenditures for Bridges to Housing Stability are accurate for Fiscal Year 2023 ending June 30, 2023. They were also able to correct the errors on the SEFA and submit the corrected documents to the auditors. The Howard County Department of Housing and Community Development and Bridges to Housing Stability, Inc. worked to reconcile CFDA 21.023 records and the platform technical issues were fixed. This allowed for all of the expenses and reimbursements to be updated, checked and reconciled so the single audit could be completed. Accountable Owner: Jennifer Broderick, Executive Director Target Completion Date: August 15, 2023 Action Start Date: March 1, 2023 Progress: Bridges replaced staff with more trained & skilled CPA firm in March 2023. The expenses charged to federal awards were reconciled and correct when submitted to the auditor in June 2023.