{
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            "type": "title",
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            "text": "KENTUCKY STATE UNIVERSITY\nSCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED)\nYEAR ENDED JUNE 30, 2023",
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            "text": "Section II – Financial Statement Findings (Continued)",
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            "bbox": {
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            "text": "2023 – 003 – Debt and Lease Accounting (Continued)",
            "attrs": {
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        },
        {
            "id": "p107.4",
            "order": 4,
            "type": "text",
            "bbox": {
                "l": 51.84,
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            "text": "Cause: Debt and lease liabilities were not reconciled timely and accrued interest was not properly calculated."
        },
        {
            "id": "p107.5",
            "order": 5,
            "type": "text",
            "bbox": {
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            "text": "Repeat Finding: No."
        },
        {
            "id": "p107.6",
            "order": 6,
            "type": "text",
            "bbox": {
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            "text": "Recommendation: We recommend that roll-forwards be performed for all long-term liabilities, supported by appropriate amortization schedules and other supporting documentation, and the general ledger be updated to reflect correct year-end balances."
        },
        {
            "id": "p107.7",
            "order": 7,
            "type": "text",
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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": "p107.8",
            "order": 8,
            "type": "heading",
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            "text": "2023 – 004 – Capital Assets",
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        {
            "id": "p107.9",
            "order": 9,
            "type": "heading",
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            "text": "Type of Finding:",
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            "bbox": {
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            "text": "Material Weakness in Internal Control over Financial Reporting"
        },
        {
            "id": "p107.11",
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            "type": "text",
            "bbox": {
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            "text": "Condition: Schedules supporting capital asset balances had errors and were incomplete. As a result, material entries were made to correct capital assets, depreciation expense, and loss on sale of asset."
        },
        {
            "id": "p107.12",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 51.36,
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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": "p107.13",
            "order": 13,
            "type": "text",
            "bbox": {
                "l": 51.36,
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            "text": "Effect: Capital asset related accounts were materially misstated prior to audit adjustments."
        },
        {
            "id": "p107.14",
            "order": 14,
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            "bbox": {
                "l": 51.36,
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            "text": "Cause: Capital assets were not reconciled timely which caused for errors in the supporting schedules and the University had not adjusted restricted proceeds and capital asset additions for a major capital project that concluded in fiscal year 2023."
        },
        {
            "id": "p107.15",
            "order": 15,
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            "bbox": {
                "l": 51.6,
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            "text": "Repeat Finding: No.",
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            "bbox": {
                "l": 50.64,
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            "text": "Recommendation: We recommend the University review its controls over accounting for capital assets and ensure the year-end roll-forward is appropriately supported."
        },
        {
            "id": "p107.17",
            "order": 17,
            "type": "text",
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                "b": 109.92
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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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            "type": "footer",
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            "text": "(103)",
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