Long-outstanding and dormant receivables from contractors and equipment rentals
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Dormant AccountThe agency is still carrying old receivables for equipment rentals and contractor advances that have not been collected or reconciled, and one region paid a supplier's security twice.
Why It Matters
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Original Audit Finding Excerpt
"Balance mainly refers to the prior years’ uncollected equipment rentals, long-outstanding and dormant unrecouped advances to contractors, and unreconciled balances."