FOUNDATION FOR ADVANCING VETERANS HEALTH RESEARCH

Research and Development Cluster Criteria: Principal Investigators did not receive timely financial information for most of 2025 and to date in 2026. Condition: The Foundation’s financial team was behind in processing invoices and disbursements. The financial team is currently working to get caught up. Effect: The Principal Investigators did not have sufficient financial information to properly budget and plan ahead for their projects. Cause: This condition was due to ineffective procedures and reporting from management that were not monitored by the Board for their effectiveness in quarterly board meetings. Recommendation: We recommend that the Foundation get caught up and hold meetings with each Principal Investigator to answer any questions they have. The goal would be to make sure they are comfortable with the reporting that is being done timely going forward. We also recommend that policies and procedures in place be reviewed and updated to ensure that this issue doesn’t recur in the future. Views of responsible officials and planned corrective actions: The Foundation agrees with this finding and will implement a corrective action plan based on this recommendation.