EIN: 223402589
UEI: DXL6MV1YHU83
Audited by: Hutman & Hutman LLP
Oversight agency: 10 [Department of Agriculture]
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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 May 31, 2024. 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 December 1, 2024 (639 days ago).
What is a management decision? →The School’s net cash resources exceeded 3 months average expenditures at the end of the year. Criteria: The school food authority shall limit its net cash resources to an amount that does not exceed 3 months average expenditures for its nonprofit school food service. Cause: The School did not monitor their net cash resources to ensure that it not exceed 3 months average expenditures. Effect of Finding: After discussions with management, the auditor has determined that although the school’s net cash resources exceed the allowed amount in 2023, due to continued rising costs, future expenditures will exceed revenues which will reduce the net cash resources to an acceptable level. As such, we feel that the effects of this finding are minimal. Recommendation To keep monitoring the net cash resources throughout the year to ensure that it does not exceed three months average expenditures. View of Responsible Party and Planned Corrective Action Since being made aware of the issue, the school’s administrator had begun to routinely monitor the net cash resources to ensure that it does not exceed three months average expenditures. As such, the required corrective actions have been implemented.
Show full finding ▾Hide full finding ▴Condition: The School’s net cash resources exceeded 3 months average expenditures at the end of the year. Criteria: The school food authority shall limit its net cash resources to an amount that does not exceed 3 months average expenditures for its nonprofit school food service. Cause: The School did not monitor their net cash resources to ensure that it not exceed 3 months average expenditures. Effect of Finding: After discussions with management, the auditor has determined that although the school’s net cash resources exceed the allowed amount in 2023, due to continued rising costs, future expenditures will exceed revenues which will reduce the net cash resources to an acceptable level. As such, we feel that the effects of this finding are minimal. Recommendation To keep monitoring the net cash resources throughout the year to ensure that it does not exceed three months average expenditures. View of Responsible Party and Planned Corrective Action Since being made aware of the issue, the school’s administrator had begun to routinely monitor the net cash resources to ensure that it does not exceed three months average expenditures. As such, the required corrective actions have been implemented.
Bais Yaakov High School of Lakewood respectfully submits the following corrective action plans for the year ended August 31, 2023. Finding 23-1: The School’s net cash resources exceeded 3 months average expenditures at the end of the year. Recommendation: To keep monitoring the net cash resources throughout the year to ensure it doesn’t exceed three months average expenditures. Action Taken: Since being made aware of the issue, the School’s administrator has begun to routinely monitor the net cash resources to ensure it does not exceed three months of average expenditures. As such, the required correction actions have been implemented. Implementation Date: Corrective Action Plan has been implemented as of May 28, 2024. Person Responsible for Implementation: Shlomo Katz, the Administrator, is the responsible party for implementation of the CAP. Telephone Number: (732)-370-8200
2022-221
FAC accepted this audit on July 12, 2022 — management decision was due January 12, 2023.
The School did not submit their audit in a timely manner. Criteria: The audit report was due to be received by the State of New Jersey no later than May 31, 2022. As a result, the audit was not submitted timely. Cause: Due to the Covid-19 pandemic, it took the School longer than usual to gather and prepare the necessary documents that were required by the auditors. Effect of Findings: The auditor feels that the effects of this noncompliance were minimal. Recommendation: A system should be in place where the auditor should be able to begin his audit soon after the fiscal year end in order to be able to complete the audit in time. View of Responsible Party and Planned Corrective Action: The administrator and staff of the School will work on ensuring that all future audits are submitted in a timely manner.
Show full finding ▾Hide full finding ▴Condition: The School did not submit their audit in a timely manner. Criteria: The audit report was due to be received by the State of New Jersey no later than May 31, 2022. As a result, the audit was not submitted timely. Cause: Due to the Covid-19 pandemic, it took the School longer than usual to gather and prepare the necessary documents that were required by the auditors. Effect of Findings: The auditor feels that the effects of this noncompliance were minimal. Recommendation: A system should be in place where the auditor should be able to begin his audit soon after the fiscal year end in order to be able to complete the audit in time. View of Responsible Party and Planned Corrective Action: The administrator and staff of the School will work on ensuring that all future audits are submitted in a timely manner.
Finding 21-1: The audit report was received by the office of the State of New Jersey Department of Agriculture after the due date of May 31, 2022. As a result, the audit wasn?t filed timely. Recommendation: To ensure the proper procedures are in place to allow the audit to be completed and received by the State of New Jersey Department of Agriculture in the required timeframe. Action Taken: ? Firstly, Administrator met with his staff and required that all books and records relating to the food program should be current and up to date in order to facilitate sending the information to the Audit firm in a timely manner. ? Secondly, there was a meeting between the Administrator and the CPA firm retained to prepare the audit. An understanding was reached that within 60 days prior to the audit due date, the CPA firm and the school?s administrative staff will meet to begin the work on the audit. ? These steps will help ensure that the audit will be completed soon after the close of the fiscal year and in a timely manner. Implementation Date: Corrective Action Plan has been implemented as of June 21, 2022. Person Responsible for Implementation: Shlomo Katz, the Administrator, is the responsible party for implementation of the CAP. Telephone Number: (732)370-8200.
FAC accepted this audit on August 30, 2021 — management decision was due March 2, 2022.
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