Finding Text
Condition: Written procedures do not specifically address federal funds or the use thereof. Criteria: Compliance requirements for Activities Allowed or Unallowed and for Allowable Costs state that the organization must have written polices and procedures for costs coded to federal awards. Cause: The New York City Board of Education (?NYC BOE?) passed federal funds through to the Foundation as part of the BOE?s plan to address COVID-19?s impact on schools. The Foundation did not anticipate this funding, so it did not have sufficient time to update its written policies and procedures to include treatment of federal funds. Effect: Noncompliance with Uniform Guidance requirements may make the Foundation ineligible for reimbursement of current year expenditures and for future federal funding. Recommendation: Update the Foundation?s and UFT?s policies and procedures manuals to address the treatment of federal funds.