Intra-agency reciprocal accounts not eliminated due to unreconciled and dormant balances
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Unreconciled BalanceAccounts between the central office and field offices don't match, so the agency cannot close them out; many have been inactive and have been proposed for write-off.
Why It Matters
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Original Audit Finding Excerpt
"These reciprocal accounts are not eliminated at year-end since it is still subject to reconciliation and verification. Majority of these accounts consist of unreconciled and dormant balances already requested for write-off and waiting for the COA’s approval/instructions."