Finding Text
Accounts Receivable - Tenants Condition: During the testing of accounts receivable tenants, there were twenty-two (22) instances out of twenty-six (26) transactions tested, whereby, the tenant balance reported on the Resident Ledger did not agree with the tenant balance reported on the Aged Receivable Report as of September 30, 2022. Criteria: The Resident Ledger should agree to the Aged Receivable report at the end of each month. Cause: The Resident Ledgers were not reconciled to the Aged Receivable report. Effect: The Aged Receivable report was overstated by $21,873. Recommendation: I recommend that the receivable balance reported on the Resident Ledger should be reconciled to the balance reported on the Aged Receivable tenant report. Performing this procedure will reduce the risk of the Aged Receivable tenant report, being overstated. Views of Responsible Officials and Planned Corrective Actions: Prior accounting management and staff have been removed. Accounts Receivable ? Tenants will be properly reconciled.