EIN: 116003304
UEI: M11XBA8AHNM6
Audited by: R.S. ABRAMS & CO., LLP
Oversight agency: 84 [Department of Education]
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Data as of August 31, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on February 10, 2025. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by August 10, 2025 (387 days ago).
What is a management decision? →FAC accepted this audit on March 22, 2024 — management decision was due September 22, 2024.
During our audit, we noted the District’s fixed asset records were incomplete for some of the assets acquired with federal grant funding during the fiscal year. Cause: The timing of fixed asset additions to the District’s fixed asset records did not align with the acquisition date. Effect: If the District’s fixed asset records are incomplete, they may not be properly safeguarded, and the District may not comply with the aforementioned federal regulations. The District is aware of these assets and plans to capitalize the assets during the 2023-2024 fiscal year. Questioned Costs: None. Recommendation: We recommend that the District update their fixed asset records to include required information for assets purchased with federal awards and that a system of communication and a review process be implemented to ensure completeness and timing of fixed asset addition records. District’s Response: The District’s response is included in their corrective plan
Show full finding ▾Hide full finding ▴Significant Deficiency, other Non-Compliance Compliance Requirement: Equipment/Real Property Management Criteria: According to 2 CFR section 200.313(d)(1), detailed property records must be maintained for equipment acquired under a federal grant award. Records should include a description of the property, a serial number or identification number, the source of funding (including the federal award identification number), who holds title, the acquisition date, cost of the property, percentage of federal participation in the project costs for the federal award under which the property was acquired, the location, use and condition of the property, and ultimate disposition data. Condition: During our audit, we noted the District’s fixed asset records were incomplete for some of the assets acquired with federal grant funding during the fiscal year. Cause: The timing of fixed asset additions to the District’s fixed asset records did not align with the acquisition date. Effect: If the District’s fixed asset records are incomplete, they may not be properly safeguarded, and the District may not comply with the aforementioned federal regulations. The District is aware of these assets and plans to capitalize the assets during the 2023-2024 fiscal year. Questioned Costs: None. Recommendation: We recommend that the District update their fixed asset records to include required information for assets purchased with federal awards and that a system of communication and a review process be implemented to ensure completeness and timing of fixed asset addition records. District’s Response: The District’s response is included in their corrective plan
COLD SPRING HARBOR CENTRAL SCHOOL DISTRICT Finding #2023-001from the 2022/23 Single Audit with Corrective Action Plan. CORRECTIVE ACTION PLAN Equipment/Real Property Management Condition: During our audit, we noted the District’s fixed asset records were incomplete for some of the assets acquired with federal grant funding during the fiscal year. District Corrective Action Plan o The District has developed a comprehensive standard operating procedure (SOP) that will ensure compliance with the District’s Capital Asset policy, including timely tagging of assets and ongoing safeguarding of assets. The SOP appoints a property control manager that will be responsible for tagging assets timely and in accordance with our policy. This person will also perform quarterly physical inventory testing to ensure assets are safeguarded. See attached detailed SOP. o Responsible Parties: ▪ Christine Costa, Assistant Superintendent for Business ▪ Christine Johnson, Treasurer ▪ Lisa Bifulco, Deputy Purchasing Agent ▪ Dawn Fox, Property Control Manager o Completion Date: December 2023
FAC accepted this audit on November 3, 2022 — management decision was due May 3, 2023.
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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