FAC Explorer

Finding 747 (2022-001)

Significant Deficiency
Requirement
AB
Questioned Costs
-
Year
2022
Accepted
2023-10-26
Audit: 1411
Organization: Downeast Transportation, Inc. (ME)
Auditor: Edwards Faust & Smith

AI Summary

  • Issue: A check over $10,000 was issued without the required two authorized signatures.
  • Trend: This indicates a potential weakness in following internal control policies for cash disbursements.
  • Follow-up: Review and reinforce training on internal control policies to ensure compliance.

Finding Text

Downeast Transportation has written policy stating that all checks over $10,000 must have two authorized signatures as a measure of internal control over cash disbursements. A check writtem over $10,000 did not have two authorized signatures. Internal control policy over cash disbursements was not followed.

Corrective Action Plan

Effective immediately the Executive Director will review all checks and electronic payments prior to them being issued.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 748 2022-002
    Significant Deficiency
  • 749 2022-003
    Significant Deficiency
  • 750 2022-004
    Significant Deficiency
  • 751 2022-005
    Significant Deficiency
  • 577189 2022-001
    Significant Deficiency
  • 577190 2022-002
    Significant Deficiency
  • 577191 2022-003
    Significant Deficiency
  • 577192 2022-004
    Significant Deficiency
  • 577193 2022-005
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
15.954 National Park Service Conservation, Protection, Outreach, and Education $1.60M
20.526 Buses and Bus Facilities Formula, Competitive, and Low Or No Emissions Programs $1.50M
20.500 Federal Transit_capital Investment Grants $46,573
20.520 Paul S. Sarbanes Transit in the Parks $6,431
20.509 Formula Grants for Rural Areas and Tribal Transit Program $2,204