Finding 6420 (2023-003)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2023-12-22
Audit: 8344
Auditor: Eide Bailly LLP

AI Summary

  • Core Issue: The Hospital lacks an effective internal control system for preparing the schedule of expenditures of federal awards.
  • Impacted Requirements: Proper financial reporting controls are necessary to ensure accurate preparation of the schedule and its notes.
  • Recommended Follow-Up: Management should enhance awareness of financial reporting requirements and strengthen internal controls related to the schedule preparation.

Finding Text

2023-003 Department of Agriculture Federal Financial Assistance Listing #10.766 Communities Facilities Loans and Grants Cluster Preparation of Schedule of Expenditures of Federal Awards Material Weakness in Internal Control over Compliance -Other Criteria: Proper controls over financial reporting include the ability to prepare the schedule of expenditures of federal awards (the schedule) and accompanying notes to the schedule. Condition: The Hospital does not have an internal control system designed to provide for the preparation of the schedule and notes to the schedule. As auditors, we were requested to assist with the preparation of the schedule and notes to the schedule. Cause: Auditor assistance with the preparation of the schedule is not unusual as the schedule has unique and specialized requirements and preparation is only required when the Hospital meets a specific threshold of federal expenditures. Effect: There is a reasonable possibility that the Hospital would not be able to draft the schedule and notes to the schedule that are correct without the assistance of the auditors. Questioned Costs: None reported. Context: Sampling was not used. Repeat Finding from Prior Year: Yes, prior year finding 2022-003 Recommendation: While we recognized that this condition is not unusual for an organization with limited staffing, we recommend management be aware of the financial reporting requirements relating to the Hospital’s schedule and the internal controls that impact financial reporting. Views of Responsible Officials: Management agrees with the finding.

Categories

Reporting Material Weakness Matching / Level of Effort / Earmarking

Other Findings in this Audit

  • 6416 2023-003
    Material Weakness Repeat
  • 6417 2023-004
    Material Weakness Repeat
  • 6418 2023-003
    Material Weakness Repeat
  • 6419 2023-004
    Material Weakness Repeat
  • 6421 2023-004
    Material Weakness Repeat
  • 582858 2023-003
    Material Weakness Repeat
  • 582859 2023-004
    Material Weakness Repeat
  • 582860 2023-003
    Material Weakness Repeat
  • 582861 2023-004
    Material Weakness Repeat
  • 582862 2023-003
    Material Weakness Repeat
  • 582863 2023-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.766 Community Facilities Loans and Grants $806,402
93.498 Covid-19 Provider Relief Fund $446,183
93.155 Covid-19 Rural Health Research Centers $38,737
93.301 Small Rural Hospital Improvement Grant Program $13,011