Finding Text
Criteria or specific requirement: According to ? 2 CFR 200.302(b)(6), Requirements for Financial Management, the financial management system of each non-Federal entity must provide written procedures to implement the requirements of ? 2 CFR 200.305 Federal Payments. Condition: The Organization's Financial and Control Policy does not include any procedures that address the requirements of ? 2 CFR 200.305. Questioned costs: None. Context: We noted the Organization is not in compliance with the requirements defined within 2 CFR ?200.302(b)(6). Cause: The Organization lacks written procedures that address the Federal Payments requirements. Effect: Noncompliance with federal regulations. Repeat Finding: Yes: 2021-004 Recommendation: We recommend the Organization revise their Financial and Control Policy to encompass the requirements defined within ? 2 CFR 200.305. Views of responsible officials: Management concurs with the audit finding. While the policy has been updated previously, it was not updated such that it complied with the requirements of 2 CFR 200.305. The Controller and CFO have updated the policy so that it fully complies with all of the requirements defined within 2 CFR 200.305.