Single Audit Report Fiscal Year Ended June 30, 2012 - State ...

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State of GeorgiaSchedule of Prior Year Findings and Questioned CostsFor the Fiscal Year Ended June 30, 2012ALBANY STATE UNIVERSITYFinding Control Number: FA-521-11-01SPECIAL TESTING AND PROVISIONSDeficiencies in Student Financial Assistance Refund ProcessThe Financial Aid Office modified its Return of Title IV processing procedures and also reviewed the Registrar's Bannerform which showed the total amount of break days for each respective academic term. The University's Financial Aid staffdiligently conducted manual verifications of the Banner SIS software's Fiscal Year 2012 Return of Title IV calculations. TheFinancial Aid Office ensured that communication and coordination between all appropriate administrative offices wasmaintained to strengthen internal controls over the Return of Title IV refund calculation process. Finally, U.S. Department ofEducation Student Financial Aid officials reviewed this student financial aid deficiency and the University's corrective actionresponse and concurred that the subject issue was a software issue in Banner and that the University's corrective action toaddress this deficiency was adequate.FORT VALLEY STATE UNIVERSITYFinding Control Number: FS-533-11-01ACCOUNTING CONTROLS (OVERALL)Inadequate Separation of DutiesWe will ask the readers of the financial statements to refer to the respective current year findings.Finding Control Number: FS-533-11-03GENERAL LEDGERBUDGET PREPARATION / EXECUTIONInadequate Accounting ProceduresWe will ask the readers of the financial statements to refer to the respective current year findings.Finding Control Number: FS-533-11-04FINANCIAL REPORTINGInadequate Controls over the Financial Reporting ProcessWe will ask the readers of the financial statements to refer to the respective current year findings.SAVANNAH STATE UNIVERSITYFinding Control Number: FA-548-11-01SPECIAL TESTS AND PROVISIONSDeficiencies in Student Financial Assistance Refund ProcessThe Bursar during the year began utilizing the Dept. of Education application to compute the return of federal aid amount forstudents that withdraw from SSU. The computed amount and amount returned is reflected in Banner vs. the amountcomputed by Banner. The Bursar has worked with Academic Affairs on process improvements to process officially withdrawstudents in a timely manner. Academic Affairs continues to work on a process to identify students that unofficially withdrawand submit to the Bursar for return of aid computation. We are hopeful that the process improvements have resulted in thereturn of aid within regulatory timelines.290
State of GeorgiaSchedule of Prior Year Findings and Questioned CostsFor the Fiscal Year Ended June 30, 2012GEORGIA PERIMETER COLLEGEFinding Control Number: FS-571-11-01FINANCIAL REPORTINGErrors Noted in Financial Statement PreparationGeorgia Perimeter College has taken the following actions to resolve the material weakness finding in FinancialStatement Preparation received for FY2011 reporting:1. Reconciliation of Restricted and Agency funds; deficit balances corrected; accounts receivable balances supported.2. Reconciliation and agreement between the Asset Management subsystem, the General Ledger, and the amountsreported in the Annual Financial Report.3. Cash Flow line items accurately reported and supported in the FY2012 Annual Financial Report.4. Review of final draft of Annual Financial Report ensuring balances reported are in agreement with the underlyingaccounting records and use of checkpoints for key amounts that should agree between schedules.Finding Control Number: FS-571-11-02FINANCIAL REPORTINGInadequate Accounting Procedures over Budget Preparation and ExecutionGeorgia Perimeter College has taken significant steps in resolving this finding during the last two months within FY2012and believes that the finding will be completely resolved for FY2013. Actions already taken include:1. Recasting the FY2013 budget with the appropriate reductions.2. Ceasing the use of budget overrides and limiting employees with budget override access.3. Implementation of i-Strategy for use by the campus to better monitor budget spending.4. Proper use of the PeopleSoft budgeting system controls including reconciliation of revenue and expense budgets byfunding source to the approved budget on record with the Board of Regents.5. FY2012 Budgetary Compliance Reporting (BCR) will not be submitted until August 15th. Managementbelieves that the BCR submission will be free from significant or material misstatement.SOUTH GEORGIA COLLEGEFinding Control Number: FS-587-11-01EXPENDITURES/LIABILITIES/DISBURSEMENTSInadequate Internal ControlsThis finding was partially resolved by the middle of fiscal year 2012 and was fully resolved by the end of fiscal year 2012.The College began to require pre-purchase approvals for all purchases in February 2012; subsequent to this time, allpurchases were approved by the department or budget manager or Vice President of the respective disbursement area. InJanuary 2012, the College began the implementation of the eProcurement module to purchase all goods available through theGeorgia First Marketplace from state contracted vendors. This module requires requisitions to be fully approved beforebeing sourced to the vendor in the form of an electronic purchase order. The full campus implementation was complete byMay 2012.291
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Single Audit ReportFiscal Year Ende
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Report on Internal Control Over Fin
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Foundation, Incorporated, Georgia T
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Firefighters’ Pension Fund, Georg
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Greg S. GriffinSTATE AUDITOR(404) 6
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In our opinion, based on our audit
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Activities Allowed or UnallowedFA-4
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Findings and Questioned Costs
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State of GeorgiaSummary of Auditor
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Financial Statement Findings
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State of GeorgiaFinancial Statement
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State of GeorgiaFederal Awards Find
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Expenditures of Federal Awards
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State of GeorgiaSchedule of Expendi
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