Finding Text
2018-002 Identification of Federal Awards
Statement of Condition: The Town did not properly identify their federal awards.
Criteria: To accurately present the Schedule of Expenditures of Federal Awards of the Town, all federal awards should be properly identified. The accuracy and completeness of financial data is crucial to the Schedule of Expenditures of Federal Awards.
Statement of Cause: The Town did not have the proper tracking procedures in place to track their awards.
Statement of Effect: The Schedule of Expenditures of Federal Awards would have been inaccurate and incomplete.
Questioned Costs: None
Perspective Information: As part of audit procedures, federal awards are assessed and tested. Identification of Repeat Finding: No.
Recommendation: Management should implement a tracking system to properly track their awards so that this doesn’t recur in the future.
Views of responsible officials and planned corrective actions: The Town has created a tracking system for all federal awards and expenditures.