Finding Text
2 CFR section 200.313(d)(1) states, in part, that property records must be maintained for equipment and real property purchases using federal funds. The property records should include, but are not limited to, a description of the property, a serial number or other identification number, the source of funding for the property (including the federal award identification number), and any ultimate disposition data including the date of disposal and sales price of the property. Testing over the District's Elementary and Secondary School Emergency Relief funds (ESSER) purchases identified purchases totaling $74,774, that were not recorded on the Fixed Asset Detail Report. This is the result of the District not reviewing their policies and the Fixed Asset Detail Report. Failure to ensure equipment purchases are included on the District's inventory listing could result in a misappropriation of the equipment and a possible future loss of funding. To effectively control equipment and to maintain accountability over expenditures, the District should review its policy and ensure all equipment is properly identified and recorded on their Fixed Asset Detail Report.