We also recommend that DOT determine the allowability of the questioned transactions and recover $9,236,974, if applicable. Audit Findings Findings are not opinion, but statements of facts as observed by the auditor. We recommend that DOT coordinate with the impacted OAs to develop a corrective action plan to resolve and close the findings identified in this report. We have audited the financial statements of NYC Neighborhood Capital Corporation (NYCNCC) as of and for the year ended June 30, 2020, and have issued our. A non-Federal entity that expends 750,000 or more during the non-Federal entitys fiscal year in Federal awards must have a single or program-specific audit conducted for that year in accordance with the provisions of this part. Of this amount, $44,115 was related to COVID-19 formula grants for the Federal Aviation Administration’s CARES Act Airport Grant Agreement Program. A critical process in resolving internal audit findings is establishing a findings tracking system. The auditors also identified questioned costs totaling $9,236,974 for five grantees. The auditors reported significant noncompliance with Federal guidelines related to 16 grantees that require prompt action from DOT’s Operating Administrations (OA). We found that reports contained a range of findings that impacted DOT programs. Findings that pose a significant business or financial management risk to the entity these include findings that could result in the. We queried and downloaded 75 single audit reports prepared by non-Federal auditors and submitted to the Federal Audit Clearinghouse between Jand September 30, 2021, to identify significant findings related to programs directly funded by the Department of Transportation (DOT).
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