Failure to Deduct Retention Money for Delayed Projects
Department of Public Works and Highways · 2023
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency failed to withhold the mandatory retention funds from delayed projects that were past the halfway completion mark.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Retention money was not collected from contractor's billings for delayed projects with over 50 percent accomplishments."