{
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    "page": 103,
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        {
            "id": "p103.1",
            "order": 1,
            "type": "title",
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            "text": "KENTUCKY STATE UNIVERSITY\nSCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED)\nYEAR ENDED JUNE 30, 2024",
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        {
            "id": "p103.2",
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            "text": "Section II – Financial Statement Findings (Continued)"
        },
        {
            "id": "p103.3",
            "order": 3,
            "type": "heading",
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            "text": "2024 – 004 – Grant Accounting",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p103.4",
            "order": 4,
            "type": "heading",
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            },
            "text": "Type of Finding:",
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        },
        {
            "id": "p103.5",
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            "bbox": {
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            "text": "Material Weakness in Internal Control over Financial Reporting"
        },
        {
            "id": "p103.6",
            "order": 6,
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            "bbox": {
                "l": 51.84,
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            "text": "Condition: During our audit process surrounding grant activity, it was noted that grant receivable, grant unearned revenue, and grant revenue and expenditure were not reconciled during the course of the fiscal year under audit."
        },
        {
            "id": "p103.7",
            "order": 7,
            "type": "text",
            "bbox": {
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            "text": "Criteria or specific requirement: Internal controls are critical to ensure accurate financial reporting. These would include, but not limited to, reconciling statement of net position accounts monthly, a formal process of procedures and internal controls to ensure timely and accurate year-end financial statements and related notes and providing supporting audit documentation that reconciles to the trial balance under audit on a timely basis."
        },
        {
            "id": "p103.8",
            "order": 8,
            "type": "text",
            "bbox": {
                "l": 51.6,
                "t": 439.68,
                "r": 559.44,
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            "text": "Effect: Potential errors to grant revenues, receivables and unearned revenues not being identified on a timely basis. Significant time spent after fiscal year end reconciling these accounts."
        },
        {
            "id": "p103.9",
            "order": 9,
            "type": "text",
            "bbox": {
                "l": 51.36,
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            "text": "Cause: The University did not have supporting subledgers supporting grants receivable and unearned revenues by invoice or grant until prepared after the end of the fiscal year on excel spreadsheets. Within the general ledger, all receivable activity is recorded to two accounts, one with a material debt balance and one with a material credit balance, which was not reconciled to a detailed listing of receivables until after fiscal year end."
        },
        {
            "id": "p103.10",
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            "text": "Repeat Finding: Yes, 2023-006."
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        {
            "id": "p103.11",
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            "bbox": {
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            "text": "Recommendation: We recommend that the University support grants receivable with a detailed listing by funding agency and invoice and unearned revenue be supported by a detailed listing by grant. We further recommend that grant revenues have a control in place to ensure allowable expenses are incurred prior to the recognition of revenue."
        },
        {
            "id": "p103.12",
            "order": 12,
            "type": "text",
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                "b": 211.2
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            "text": "Views of responsible officials and planned corrective actions: There is no disagreement with the audit finding."
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        {
            "id": "p103.13",
            "order": 13,
            "type": "heading",
            "bbox": {
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            "text": "2024 – 005 – Purchase Cards",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p103.14",
            "order": 14,
            "type": "heading",
            "bbox": {
                "l": 52.8,
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                "r": 133.92,
                "b": 160.08
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            "text": "Type of Finding:",
            "level": 3
        },
        {
            "id": "p103.15",
            "order": 15,
            "type": "list_item",
            "bbox": {
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            "text": "Significant Deficiency in Internal Control over Financial Reporting",
            "marker": "•"
        },
        {
            "id": "p103.16",
            "order": 16,
            "type": "text",
            "bbox": {
                "l": 51.6,
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                "r": 560.4,
                "b": 96.48
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            "text": "Condition: In a sample of purchase card transactions, it was noted that a significant number of transactions selected were not supported by receipts or management approval."
        },
        {
            "id": "p103.17",
            "order": 17,
            "type": "footer",
            "bbox": {
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                "b": 34.56
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            "text": "(104)",
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                "block_label": "number"
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    "excluded_furniture": {
        "first": [],
        "last": []
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}