Most Common Audit Findings
- Untimely ACJC Financial/Program Reports
- Inadequate time/effort reports, missing timesheets or lack of required signatures
- Inaccurate Financial Quarterly Reports. Reports do not match Finance records
- Unallowable/Inappropriate charges
- Funds are not separated or in sub-accounts
- Incomplete or non-existent equipment log
What to expect from an ACJC Financial Review:
- An initial letter will be sent to the agency head and project official scheduling
the visit
- Records will be reviewed for compliance with internal policies, federal and/or state
regulations and the grant agreement
Example of items to be reviewed:
- Deposits
- Equipment purchases
- Supplies and Operating Expenses
- Required Matching Funds
- Timesheets and payroll records
- In State and Out of State Travel
- Confidential Funds (if applicable)
- Any other items related to the Grant
- Upon completion of the review an exit interview will be conducted with staff
- The ACJC program manager will send a letter of Compliance or Corrective Action Plan
addressing any deficiencies.