EIN: 522094777
UEI: G1DJALA91F28
Data as of August 22, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on December 19, 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 June 19, 2023 (1161 days ago).
What is a management decision? →During our audit, it came to our attention that several key accounts (cash, receivables, payables, etc.) had not been reviewed as of year-end. The School had several post year-end adjustments to present its financial statements in accordance with generally accepted accounting principles. Such adjustments related to errors (both material and immaterial) that were undiscovered throughout the fiscal year. Criteria: In accordance with Uniform Guidance, the School must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Additionally, ?200.510 requires the auditee to prepare financial statements that reflect its financial position, results of operations or change in net assets, and, where appropriate, cash flows for the fiscal year audited. Cause: The School did not have adequate internal controls over financial reporting in place to ensure the review and analysis of its financial statements on a timely basis. Effect: The delay in completing account analysis for the financial statement accounts could allow for misstatements, errors, and irregularities to go undetected. Also, accurate financial information may not have been available to make management decisions. Questioned Costs: None. Recommendation: We strongly recommend the School develop a formal written procedure to develop monthly and year-end financial reporting procedures and checklists to assist in the preparation of financial statements. These policies should ensure reconciliations and other account analyses are completed and reviewed by appropriate supervisory personnel.
Show full finding ▾Hide full finding ▴Section II ?Financial Statement Findings Finding 2022-001 Programs: All Significant Deficiency over Financial Reporting Repeat Finding: No Condition: During our audit, it came to our attention that several key accounts (cash, receivables, payables, etc.) had not been reviewed as of year-end. The School had several post year-end adjustments to present its financial statements in accordance with generally accepted accounting principles. Such adjustments related to errors (both material and immaterial) that were undiscovered throughout the fiscal year. Criteria: In accordance with Uniform Guidance, the School must maintain an adequate system of internal controls over financial reporting to initiate, authorize, record, process and report financial data reliably in accordance with generally accepted accounting principles. Additionally, ?200.510 requires the auditee to prepare financial statements that reflect its financial position, results of operations or change in net assets, and, where appropriate, cash flows for the fiscal year audited. Cause: The School did not have adequate internal controls over financial reporting in place to ensure the review and analysis of its financial statements on a timely basis. Effect: The delay in completing account analysis for the financial statement accounts could allow for misstatements, errors, and irregularities to go undetected. Also, accurate financial information may not have been available to make management decisions. Questioned Costs: None. Recommendation: We strongly recommend the School develop a formal written procedure to develop monthly and year-end financial reporting procedures and checklists to assist in the preparation of financial statements. These policies should ensure reconciliations and other account analyses are completed and reviewed by appropriate supervisory personnel.
Auditee?s Corrective Action Plan: The issues encountered during this year?s audit were a result of a number of circumstances rather than any inherent procedural issues. This is the first significant weakness that has been noted by the auditors in many years. The issues are the result of a perfect storm. First, the effects of covid which were felt on all levels of not only our organization but the entire country. Second, the growth the school is going thru and the need to adjust to this growth. Add to this environment of covid and growth 2 events that caused a serious disruption to our normal procedures. The first event started out as a correction entry in QuickBooks that caused our June 2021 bank reconciliation to be out of balance. This prevented the school from doing timely bank reconciliations until the problem was corrected. An outside consultant was hired and corrected the problem. The most significant event was the ESSER II and III grant applications which were not approved until November. Much effort went into getting the grants approved and estimating the grants for the audit. As noted above, the school is growing, and the capacity of the finance department has to grow as well. A full-time finance associate was added to the department in July 2022. Additional capacity will be added as needed. Due to growth, we will revise our accounting manual to list all steps in the closing process including checklists to ensure that all reconciliations and account analysis are completed and reviewed by supervisory personnel. This revision will be completed by the 4th quarter of the fiscal year. Contact Person: Bill Moczydlowski, Director of Finance
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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