Finding Text
Finding 2022-003 Significant Deficiency Cash Management 2022-3 Criteria: The Organization shall limit its net cash resources to an amount that does not exceed three (3) months average expenditures for its child nutrition program. Condition: Based on the formula provided by the compliance supplement, the Organization exceed three (3) months average expenditures regarding its cash balances at June 30, 2022. Effect: The cash has excess cash resources over the recommended amounts based on 2022 operating expenditures Cause: The Organization has created increased efficiencies in its operations. Questioned Costs: None. Recommendation: We recommend that the Organization implement procedures to ensure that cash resources do not exceed three (3) months average of operating expenditures.