1 / 15

Review of FY2006 Real Property Audit Findings

Review of FY2006 Real Property Audit Findings. NOAA Real Property Management Conference May 21, 2007 Mary Ann Whitmeyer. Budget Authority - Capital Leases Outlay Schedule - Capital Leases Example. AGENDA. Audit Components. KPMG will be the auditor again this year.

alvis
Télécharger la présentation

Review of FY2006 Real Property Audit Findings

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Review of FY2006 Real Property Audit Findings NOAA Real Property Management Conference May 21, 2007 Mary Ann Whitmeyer Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  2. Budget Authority - Capital Leases Outlay Schedule - Capital Leases Example AGENDA Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  3. Audit Components • KPMG will be the auditor again this year. • Interim field work date is July 30 – August 10. • Final field work is scheduled for October 9 – 12. • Property, Plant and Equipment (PP&E) receives the most examination because it is aside from our appropriation, the largest dollar amount in the assets on the balance sheet. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  4. Audit Components • Notification of Finding and Recommendation (NFR) • Management Letter • Corrective Action Plan Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  5. Notification of Finding and Recommendation • This year there were five Real Property, Facility and Logistics Office findings. • Three of the findings involved operating leases. • Two of the findings were related to CWIP projects. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  6. Notification of Finding and Recommendation • NFR-3 Lease Determination Worksheet for two new leases did not agree to the operating lease schedule totals provided as supporting documentation. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  7. Notification of Finding and Recommendation • NFR-30 For two of the eight operating leases tested, the lease determination worksheet contained errors. They were properly classified as operating leases, despite the errors. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  8. Notification of Finding and Recommendation • NFR-19 Four new operating leases had a start date prior to October 1, 2005, but were not entered into Federal RPM timely. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  9. Corrective Action Plan • To address the need for closer review, the Standard Operating Procedure for the Lease Review Board was revised. • It incorporates more stringent review of the Lease Determination Worksheet (LDW) and more documentation is required to support the review. • The regional chief also verifies the rental cost numbers on the LDW. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  10. Corrective Action Plan • To ensure that leases are entered in Federal RPM in a timely manner, a tracking spreadsheet has been implemented. • The Standard Operating Procedure for the Lease Review Board was expanded to include post approval tracking. • Working on finalizing reasonable expectation of time between the receipt of the signed lease and entry into FRPM. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  11. Notification of Finding and Recommendation • NFR-32 Real Property Facilities and Logistics Office incorrectly capitalized the full contract amount of $978,016 for a hurricane-damaged dock in Pascagoula, MS. Only $405,480 had been paid on the uncompleted project. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  12. Notification of Finding and Recommendation • NFR-36 Of the four FY 2006 additions tested, asset number FLM00202, related to a CWIP property that was completed on June 3, 2005, but not transferred to the real property account until fiscal year 2006. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  13. Corrective Action Plan • To address the cause of the Pascagoula and Florida CWIP findings, training was planned for all staff to identify and record CWIP transactions in accordance with NOAA’s established policies. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  14. Conclusion • This fiscal year, the auditor will check on the status of prior year management letter comments. It is critical that our corrective action plans be in place. They will yield a clean audit and we can congratulate ourselves for a job well done. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

  15. The findings on agreement of the operating lease payment schedules to the supporting spreadsheets and the lease determination worksheet errors all need to be addressed by closer review. Heather Hirzel / (301) 713-3530 Heather.L.Hirzel@noaa.gov

More Related