FAC Explorer

Finding 8498 (2022-004)

Material Weakness
Requirement
ABCEGHLN
Questioned Costs
-
Year
2022
Accepted
2024-01-15
Audit: 11457
Organization: Young Women's Christian Association of St Joseph Missouri (MO)
Auditor: Martin & Hanway Cpa's PC

AI Summary

  • Core Issue: General ledger accounts were not balanced or reconciled monthly, leading to inaccurate financial statements.
  • Impacted Requirements: Monthly reconciliations are essential for accurate financial reporting.
  • Recommended Follow-Up: Ensure timely monthly reconciliations and board reviews to maintain financial statement integrity.

Finding Text

Condition: Many of the Organizations' general ledger accounts were not in balance with supporting details and were not reconciled throughout the year on a monthly basis. Criteria: Financial Statement accounts should be reconciled on a monthly basis to ensure proper financial reports. Cause: Employee turnover throughout the year made it difficult for the financial statements to be kept up every month. Effect: The financial statements looked at every month are not accurate and this could be misleading. Recommendation: We recommend that all financial statement accounts be reconciled on a timely basis so that all financial reports being reviewed are accurate. Response: Financial statements will be reconciled on a monthly basis and reviewed by the board. Adjustments that need to be made will be made in a timely manner to ensure the continued integrity of the financial statements.

Corrective Action Plan

Material Weakness Finding: Financial Statement accounts should be reconciled on a monthly basis to ensure proper financial reports. Questioned None Costs Status New Corrective Financial statements will be prepared monthly by CFO and reviewed by Action CEO, Operations Committee and Board of Directors.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 8497 2022-003
    Significant Deficiency Repeat
  • 8499 2022-005
    Material Weakness
  • 8500 2022-003
    Significant Deficiency Repeat
  • 8501 2022-004
    Material Weakness
  • 8502 2022-005
    Material Weakness
  • 584939 2022-003
    Significant Deficiency Repeat
  • 584940 2022-004
    Material Weakness
  • 584941 2022-005
    Material Weakness
  • 584942 2022-003
    Significant Deficiency Repeat
  • 584943 2022-004
    Material Weakness
  • 584944 2022-005
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
16.575 Crime Victim Assistance $488,768
16.540 Juvenile Justice and Delinquency Prevention_allocation to States $190,695
16.736 Transitional Housing Assistance for Victims of Domestic Violence, Dating Violence, Stalking, Or Sexual Assault $144,077
93.671 Family Violence Prevention and Services/domestic Violence Shelter and Supportive Services $102,912
93.558 Temporary Assistance for Needy Families $69,632
14.218 Community Development Block Grants/entitlement Grants $66,300
10.558 Child and Adult Care Food Program $49,014
93.575 Child Care and Development Block Grant $27,853
14.231 Emergency Solutions Grant Program $25,933
97.024 Emergency Food and Shelter National Board Program $15,800
16.588 Violence Against Women Formula Grants $10,091
16.017 Sexual Assault Services Formula Program $5,443
14.267 Continuum of Care Program $4,308
10.569 Emergency Food Assistance Program (food Commodities) $2,074