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CORRECTIVE ACTION PLAN <br />The following is our response to finding in the audit as of December 31, 2023 <br />FINDING 2023-001 Material Audit Adjustment <br />During our audit, material adjustments were needed to correct the year-end balances for various accounts receivable and <br />investment balances. <br />Corrective Action Plan (CAP): <br />1. Explanation of Disagreement with Audit Finding: <br />There is no disagreement with the audit finding. <br />2. Actions Planned in Response to Finding: <br />Procedures over year-end adjustments will be reevaluated to eliminate the need for related audit adjustments in <br />the future. <br />3. Official Responsible for Ensuring CAP: <br />Maggie Jin, Finance Director, is the official responsible for ensuring corrective action. <br />4. Planned Completion Date for CAP: <br />Fiscal year end 2024. <br />5. Plan to Monitor Completion of CAP: <br />The City Administrator will monitor the completion of the corrective action. <br />13 <br />Actions Planned in Response to Finding:Actions Planned in Response to Finding: <br />Procedures over Procedures over yearyear-end adjustments will be reevaluated to eliminate the need for related audit adjustments in end adjustments will be reevaluated to eliminate the need for related audit adjustments in <br />the future.the future. <br />Official Responsible for Ensuring CAP:Official Responsible for Ensuring CAP: <br />Maggie JinMaggie Jin, , Finance DirectorFinance Director, is the official responsible for ensuring corrective action., is the official responsible for ensuring corrective action. <br />211