Government Audit Status and Action Plan Update
This content provides information on the current audit status, plans to bring the audit up to date, action plan progress, and the use of performance measures in government operations. It includes details on completed audits, outstanding tasks, resolution steps, and important financial performance metrics. Stay informed about government financial management practices and strategies.
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Presentation Transcript
June 8 13, 2024 Orlando, Florida GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 1
[GOVT] - CURRENT AUDIT STATUS Most recently completed Year currently under audit FY2023 AUDIT STATUS DATES FY202.. 1 Audit firm Note the years already contracted 2 Extension dates approved 3 Realistic, target completion date (all open years) n/a n/a 4 Draft received n/a n/a 5 Completed and submitted to audit clearing house # of Federal qualifications for completed and expected for year currently under audit n/a n/a 6 n/a n/a 7 # of Financial qualifications # of Component Unit quals for completed and expected for year currently under audit n/a n/a 8 GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 3 IGFOA 2024 June 8 -13, 2024
[GOVT] - Plan to bring audit up to date Target Date Audit Tasks & Issues Resolution Steps List major outstanding reconciliations/roadblocks Provide detail on major issues with the auditors Which component units will not be completed? What audit exceptions is the government willing to accept to bring the audit to completion? GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 4 IGFOA 2024 June 8 -13, 2024
(your government) Action Plan Progress Updated time frame Targeted Time Frame Task Progress Notes Each government prepared an action plan at our December meeting in Honolulu. Please provide a brief update on your progress. If you don t have your action plan, let us know and we can send you a copy. GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 6 IGFOA 2024 June 8 -13, 2024
[GOVT] - How do you use performance measures? Performance Measure Reported to?? Frequency Timely Bank Reconciliation Reduction in overdue travel advances Revenue Estimates within target % # of days to pay a federal invoice Timeliness of SF425 reports Reduction in Federal Grant AR % of personnel evaluations completed # of training hours / finance employee Completion of Fixed Asset Inventory Reduction in invalid, outdated encumbrances GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 8 IGFOA 2024 June 8 -13, 2024
[GOVT] - And what more would be useful? Information or Performance Measure Requested by? Frequency GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 9 IGFOA 2024 June 8 -13, 2024
(YOUR GOVT) Department of Finance Performance Measures Prior Period -2 Prior Period -1 Current Period 0 Audit issue? Trend Target Period Notes Which Measure??? What actions do you take to achieve good results? 1 2 3 4 GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 10
(YOUR GOVT) Department of Finance Performance Measures Prior Period -2 Prior Period -1 Current Period 0 Audit issue? Trend Target Period Notes Which Measure??? What actions might help your office improve? 1 2 3 4 GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 11
[GOVT] - Challenges and Accomplishments What has been the greatest challenge in your financial operations this last few months? INSERT COMMENTS HERE What recent finance office accomplishment would you like to share with your finance office colleagues? INSERT COMMENTS HERE GFOA & IGFOA Meeting | June 8-13, 2024 I Orlando, Florida 16 IGFOA 2024 June 8 -13, 2024
