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Northeast Texas Council on Alcohol and Drug Abuse, Inc. <br /> Schedule of Findin§s and Questioned Costs <br /> For the Year Ended August 31, 2002 <br /> <br />crO§ram Description <br />hedule Reference # 02-2 <br />Program Name 3rganization Wide <br />Project Number ~4/A <br />CFDA # N/A <br />;ritefia: Sound financial management requires complete and accurate <br /> financial data. <br /> <br /> bndition Found: The financial statements printed from the accounting software <br /> do not provide entity x~'ide totals which are a necessary tool <br /> for analytical as well as overall entity wide £mancial reviews. <br /> Furthermore, the equity section of the balance sheet is not <br /> consistent with the fiscal year end of NETCADA. <br /> <br />mestioned Costs: Unknown <br />Instances: N/A <br />Effect: The organization must prepare manual consolidated income <br /> statements for each department. Then, the net income (loss) does <br /> eot match the computer generated financial statements. <br /> <br />Recommendation: We recommend that management strive to obtain the ability to <br /> compile the financial statements into an "organization wide" <br /> format. <br /> <br />Schedule Reference # 02-3 <br />Program Name Organization Wide <br />Project Number N/A <br />CFDA # ,, N/A <br />Criteria: Deposits in a financial instituion should remain under the <br /> amount covered by the Federal Deposit Insurance Company <br /> (~DIC). <br /> <br /> ]ondition Found: Deposits dudmg the year w?nt over the amount of FDiC <br /> '. coverage in a sin~e financial institution. <br /> <br />!uestioned Costs: None <br />Instances: ., ~ One <br />Effect: Financial institutions will not reimburse organizations for <br /> amounts exceeding FDIC coverage. <br /> <br />Recommendation: We recommend that the Organization not keep a balance <br /> greater than the covered amount in accounts at any one <br /> financial institution. <br /> <br /> 25 <br /> <br /> <br />