Finding Text
Section II ? Financial Statement Findings 2022-001. SEGREGATION OF DUTIES Criteria The concentration of duties and responsibilities in a limited number of individuals is not desirable from an internal accounting control point of view. Condition Due to the limited number of personnel within the EDA?s business office, the segregation of accounting functions necessary to ensure adequate internal accounting control is not possible. Effect Because of the weakness in segregation of duties, the EDA has not provided adequate internal control. Cause This occurred because of staffing limitations caused by fiscal constraints. Recommendations The EDA should constantly be aware of this condition, attempt to segregate duties as much as possible, and provide oversight to partially compensate for this deficiency. Views of Responsible Officials and Planned Corrective Action Management agrees with the audit finding. The Executive Director will continue to monitor all transactions and the EDA?s administration will structure the duties of office personnel to help ensure as much segregation of duties as possible within the EDA?s staffing limitations and funding constraints. Section III ? Federal Award Findings and Questioned Costs DEPARTMENT OF THE TREASURY Coronavirus State and Local Fiscal Recovery Funds ? Assistance Listing No. 21.027? Grant Period ? Year ended December 31, 2022. The significant deficiency of lack of segregation of duties, as discussed in Section II, finding 2022-001, also applies to this grant. Finding: 2022-001 Name of Contact Person: Craig Wainio, Executive Director Corrective Action: The Executive Director will attempt to monitor transactions and structure the duties of office personnel to help ensure as much segregation of duties as possible within the EDA?s staffing limitations and funding constraints. Proposed Completion Date: The Executive Director has been monitoring transactions and reviewing the duties of office personnel on an ongoing basis.