Finding Text
10.553, 10.555 - Child Nutrition Cluster 2022-001 Net Cash Resources Condition: At June 30, 2022, net cash resources in the School Lunch Fund exceeded the allowable limit of cash by $278,875. Criteria: The school food authority shall limit its net cash resources to an amount that does not exceed 3 months average expenditures for its school lunch fund or such other amount as may be approved by the New York State agency in accordance with ?210.19(a). Cause: Revenues exceeded expenditures by $276,421 in the School Lunch Fund for the year ended June 30, 2022. Effect: The School District is not in compliance with 7 CFR ?210.19(a). Recommendation: We recommend the School District review its net cash resources in the School Lunch Fund and develop a plan to reduce them to an allowable amount. Management Response: The School District agrees with condition, cause, and recommendation.