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.