Most Common Audit Findings

  1. Untimely ACJC Financial/Program Reports
  2. Inadequate time/effort reports, missing timesheets or lack of required signatures
  3. Inaccurate Financial Quarterly Reports. Reports do not match Finance records
  4. Unallowable/Inappropriate charges
  5. Funds are not separated or in sub-accounts

What to expect from an ACJC Financial Review:

  1. An initial letter and / or e-mail will be sent to the agency head and project official scheduling
    the visit
  2. 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
    • Any other items related to the Grant
  3. Upon completion of the review an exit interview will be conducted with staff
  4. The ACJC Audit Staff will send a letter stating comments, suggestions, and findings relating to the audit. The entity will have the opportunity to provide a Corrective Action Plan addressing any deficiencies.