Finding Text
Criteria - Per 2 CFR section 200.320 of the Uniform Guidance, the School must obtain price or rate quotations from an adequate number of qualified sources for purchases that exceed $10,000.
Condition - During the audit, we noted an instance in which a purchase exceeding $10,000 for which the School did not obtain price quotations from multiple sources.
Cause - The conditions mentioned above were due to violation of the requirements of 2 CFR section 200.320 of the Uniform Guidance.
Effect - The conditions mentioned above resulted in a violation of the requirements to comply with 2 CFR section 200.320 of the Uniform Guidance.
Questioned costs - $61,821
Recommendation - We recommend that the School review its procurement policies to ensure that it obtains price or rate quotations from an adequate number of qualified sources for purchases that exceed $10,000.
Management response - See corrective action plan provided by the Head of School.