Finding Text
Condition: Property acquired with federal funds were not tracked in property records.
Criteria: 2 CFR 200.313(d)(1) requires property records must be maintained that include a description of the property, serial number or other identification number, the source of funding for the property, who holds title, the acquisition date, the cost of the property, percentage of the federal project costs under which property was acquired, the location, use and condition of the property, and any ultimate disposition data including the date of disposal and sale price of the property.
Cause: Failure to identify construction in progress as capital outlay for property.
Context: Twenty five percent of population was not captured on the federal property report maintained by District.
Effect: Noncompliance with Uniform Guidance.
Recommendation: We recommend that property acquired with federal funds be properly tracked. We also recommend reconciliations procedures for property acquired with federal funds and the property listing for items acquired with federal funds.
Views of Responsible Officials
and Planned Corrective
Action: The District will review federal expenditures of OCAS object codes to 700s and 450s at year end to the federal inventory listing to ensure all equipment has been captured as required by federal regulations.