Finding Text
a. Condition: Cash funds for the food service program were m excess of the allowed 3 months average expenditures by $519,240. b. Criteria: Federal funding requires that the lunchroom cash balances should not exceed the average 3 months spending. c. Cause: The actual cash balances as of August 31, 2022, exceeded the allowed 3 month average spending amount by $519,240. d. Effect: Excess Cash Balances were held by the District for $519,240 as of August 31, 2022. e. Recommendation: The District should review their current needs for equipment, charges for student meals, etc. and develop a plan for the reduction of cash balances in the lunchroom fund. f. District Response: The District will review their current needs for equipment, charges for student meals, etc. and develop a plan for the reduction of cash balances in the lunchroom fund during the current year ended August 31, 2023.