EIN: 262418959
UEI: CK8EC9M3F5U5
Audited by: GELMAN, ROSENBERG & FREEDMAN
Oversight agency: 98 [U.S. Agency for International Development]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on October 23, 2022. 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 April 23, 2023 (1233 days ago).
What is a management decision? →FAC accepted this audit on September 29, 2021 — management decision was due March 29, 2022.
FAC accepted this audit on October 7, 2020 — management decision was due April 7, 2021.
FAC accepted this audit on April 10, 2020 — management decision was due October 10, 2020.
Upon the commencement of our audit work we noted that certain material asset and liability accounts (e.g. accounts receivable, grants receivable, inter-company accounts and un-deposited funds) were not properly reconciled as of March 31, 2019. Criteria: Title 2 CFR 200 Section 200.303 ?Internal Controls? requires recipients of Federal funds to establish internal controls that should be in compliance with guidance in the "Integral Control Integrated Framework" issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Cause: Due to transition in the finance department, the Foundation did not have the proper controls in place to ensure timely and accurate reconciliations of certain asset and liability accounts. Effect or Potential Effect: Without timely and accurate reconciliations of asset and liability accounts, there exists the potential for undetected errors or misappropriation of funds, as well as internal financial statements that are incomplete, inaccurate and unreliable. Recommendation: While the accounts mentioned above were properly reconciled as a result of our audit work and in conjunction with the management of the Foundation, we recommend that all asset and liability accounts be reconciled on a monthly basis and that management review such reconciliations to ensure the schedules agree with the general ledger balance at the end of each month.
Show full finding ▾Hide full finding ▴Finding 2019-001: Reconciliation of Certain Asset and Liability Accounts Federal Programs: 98.001 Condition: Upon the commencement of our audit work we noted that certain material asset and liability accounts (e.g. accounts receivable, grants receivable, inter-company accounts and un-deposited funds) were not properly reconciled as of March 31, 2019. Criteria: Title 2 CFR 200 Section 200.303 ?Internal Controls? requires recipients of Federal funds to establish internal controls that should be in compliance with guidance in the "Integral Control Integrated Framework" issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Cause: Due to transition in the finance department, the Foundation did not have the proper controls in place to ensure timely and accurate reconciliations of certain asset and liability accounts. Effect or Potential Effect: Without timely and accurate reconciliations of asset and liability accounts, there exists the potential for undetected errors or misappropriation of funds, as well as internal financial statements that are incomplete, inaccurate and unreliable. Recommendation: While the accounts mentioned above were properly reconciled as a result of our audit work and in conjunction with the management of the Foundation, we recommend that all asset and liability accounts be reconciled on a monthly basis and that management review such reconciliations to ensure the schedules agree with the general ledger balance at the end of each month.
Given the transitions that occurred in FY19, the new finance team spent a considerable amount of time reconciling historical accounts that had not been sufficiently reconciled in the past and improving the consistency in coding for various accounts. During the course of the audit we were able to fully reconcile all accounts and develop an in depth understanding of all of the Foundation?s accounts historically. With this we are undergoing a full review of our accounts for FY20 to ensure all reconciliations are done prior to our next audit. In addition, we will be instituting a process going forward to reconcile our account balances on a monthly basis, as suggested.
FAC accepted this audit on March 3, 2019 — management decision was due September 3, 2019.
FAC accepted this audit on April 10, 2018 — management decision was due October 10, 2018.
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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