Finding Text
FINDINGS ? FINANCIAL STATEMENT AUDIT MATERIAL WEAKNESS 2022-01 - Disbursements Condition: There is not adequate separation of duties between approving, initiating, and recording cash disbursements. Criteria: Internal controls should be in place to adequately segregate duties between two or more individuals. Cause of Condition: The Organization has not utilized staff and/or board members to separate duties. Effect of Condition: The lack of segregation of duties increases the risk that funds could be misappropriated and that misappropriation would not be identified quickly. Recommendation: We recommend that the Board establish adequate segregation of duties over cash disbursements. Views of Responsible Officials and Planned Corrective Actions: The Board will discuss these recommendations and consider implementing procedures to further segregate duties within our internal control system. FINDINGS AND QUESTIONED COSTS ? MAJOR FEDERAL AWARD PROGRAMS AUDIT 2022.01 - Community Facilities Loans CFDA #10.766 See Details Above