Finding 65277 (2022-001)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-03-01

AI Summary

  • Answer: We identified significant errors in accounts receivable and grant revenue during the audit.
  • Trend: Phase 3 of the grant was not recorded by the deadline of 9/30/22, leading to discrepancies.
  • List: Proposed adjustments total around $665,000 to correct the accounts receivable balance.

Finding Text

During the audit there were material audit adjustments we proposed to correct accounts receivable and related grant revenue. Phase 3 of the grant was not recorded as of 9/30/22. We proposed adjustments to accounts receivable for approximately $665,000 to correct the balance.

Corrective Action Plan

CTANY agrees with the recommendation that accounts receivable and related revenue should be monitored for accuracy. Due to management transition over the past year, the CTANY board and administrative consultants are working to ensure that best practices are put in place going forward to ensure accounts receivable and related revenue are constantly monitored. In terms of the outside accountant CTANY is considering the option of consulting with an outside firm to help manage the books and accounting records per the recommendations of this audit report.

Categories

HUD Housing Programs

Other Findings in this Audit

  • 65278 2022-002
    Material Weakness
  • 65279 2022-003
    Material Weakness
  • 641719 2022-001
    Material Weakness
  • 641720 2022-002
    Material Weakness
  • 641721 2022-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
20.600 National Priority Safety Program, Ctany 2022 Statewide Gtsc Outreach Campaign $956,022