Finding Text
2022-2 Cash Management CFDA Numbers: 93.224 Criteria: Cash management requirements in the Uniform Guidance, specifically ?200.305(b)(6) ? Payment, states that entity should minimize the time elapsing between the transfer of funds and disbursement. Condition and context: The Organization had several federal expenditures when the gap between the drawdown and the expenditure was greater than 3 days. Cause: Lack of internal controls over the drawdown process. Effect: Noncompliance over cash management of federal funds. Recommendation: The Organization should establish policies and procedures to ensure proper cash management over federal drawdowns. Organization response: Management agrees with the finding. The Center has implemented new accounting policies over the use of federal dollars.