FAC Explorer

Finding 950804 (2023-016)

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Requirement
F
Questioned Costs
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Year
2023
Accepted
2024-03-07
Audit: 293970
Organization: Rondout Valley Central School District (NY)
Auditor: Rbt CPAS LLP

AI Summary

  • Answer: Purchased items were not recorded in the capital asset records.
  • Trend: This issue indicates a lack of compliance with federal requirements for maintaining equipment records.
  • List: Implement a capital asset process to ensure accurate annual updates of the District's capital assets.

Finding Text

Equipment and Real Property Management Condition: Purchased items were not added to the capital asset records. Criteria: Equipment purchased with federal funds requires records to be maintained. Cause: Purchased items were not recorded to an equipment expense account. Effect: The District does not have required property record maintenance. Recommendation: RBT recommends that the District adopt a capital asset process and system of controls to accurately compile and update annually a list of capital assets owned by the District.

Categories

Equipment & Real Property Management Procurement, Suspension & Debarment

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $1.36M
84.010 Title I Grants to Local Educational Agencies $472,627
10.553 School Breakfast Program $106,315
84.367 Improving Teacher Quality State Grants $63,997
10.555 National School Lunch Program $44,882
84.027 Special Education_grants to States $31,790
84.424 Student Support and Academic Enrichment Program $16,605
10.579 Child Nutrition Discretionary Grants Limited Availability $13,943
10.649 Pandemic Ebt Administrative Costs $3,140
84.173 Special Education_preschool Grants $2,849