FAC Explorer

Finding 8007 (2023-001)

Material Weakness
Requirement
A
Questioned Costs
-
Year
2023
Accepted
2024-01-09
Audit: 10479
Organization: Lower Platte South Natural Resources District (NE)
Auditor: Hbe LLP

AI Summary

  • Answer: The District lacks a proper internal control system for preparing financial statements and federal award expenditure schedules.
  • Trend: This gap in controls can lead to inaccuracies in financial reporting and compliance issues.
  • List: Recommend implementing a robust internal control system to ensure accurate financial reporting and compliance with federal requirements.

Finding Text

The District does not have an internal control system designed to provide for the preparation of the financial statements and the schedule of expenditures of federal awards being audited.

Corrective Action Plan

The District will rely on its system of oversight provided by the board of directors in reviewing the financial statements, including note disclosures and the schedule of expenditures of federal awards, to mitigate this inherent material weakness in its internal control system.

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 584449 2023-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $1.63M
10.904 Watershed Protection and Flood Prevention $39,897
10.902 Soil and Water Conservation $38,481
66.460 Nonpoint Source Implementation Grants $21,178