FAC Explorer

Finding 607328 (2022-003)

Material Weakness
Requirement
B
Questioned Costs
-
Year
2022
Accepted
2023-06-20
Audit: 34417
Organization: City of Caneyville Kentucky (KY)
Auditor: Drane & Company PLLC CPAS

AI Summary

  • Answer: The audit revealed that the City needed to make significant adjustments to the waterline project’s recorded balance.
  • Trend: There was a consistent issue with misclassifying revenues, specifically treating federal funds as local revenue.
  • List: Follow up on correcting the revenue classifications and ensure proper recording practices are implemented for future projects.

Finding Text

Material adjustments to the recorded balance of the City?s waterline project were required as part of the audit process and related revenues were misclassified as local rather than from federal sources.

Categories

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Other Findings in this Audit

  • 30885 2022-003
    Material Weakness
  • 30886 2022-003
    Material Weakness
  • 607327 2022-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.760 Water and Waste Disposal Systems for Rural Communities $818,000
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $514,237
21.027 Coronavirus State and Local Fiscal Recovery Funds $159,935
20.205 Highway Planning and Construction $13,074
21.019 Coronavirus Relief Fund $1,730