MSFC Financial Review of MCDC CY19/CY20

MCDC Community,

We’ve attached the final copy of the recently completed Marshall Space Flight Center (MSFC) financial review of MCDC, completed by the MSFC Office of the Chief Financial Officer’s Quality Assurance and Controls Office. The review – which covered CY19 and CY20 – assessed MCDC’s management, financial, and operational controls to provide reasonable assurance that resources are being used efficiently and effectively.

Thank you to the prior board for requesting this review. It uncovered areas that need improvement and opportunities to strengthen our controls.  We are thankful for MSFC's time and effort to provide us feedback on ways to improve our business.  With their feedback and collaborative interaction, we are inspired and excited to reform our practices and policies to make our center the best childcare center available

Following receipt of the final report, we met with MSFC leadership on 18 July to discuss a path forward.

In response to the review findings, we are currently overhauling all MCDC policies and procedures to put controls into place to ensure current and future Boards adhere to best practices. We have updated the MCDC bylaws and are waiting feedback from a legal review before presenting our proposed changes to the community. All other documents that require updating – from our operating policies and business manual to the employee handbook – are dependent on having a firm set of current bylaws as a starting point. We are planning a third-party financial audit and working closely with MSFC to address all their review findings, which includes producing an annual financial statement.

When reading the review, you will note that in multiple evaluations to our responses, MSFC found us only partially responsive due to our failure to include a specific date for completion of response actions. During the 18 July 2022 meeting with MSFC, the MCDC BOD explained that we could not provide a date until the legal review was completed and results provided to us.  MSFC was satisfied with our response and our recommendation to establish recurring status review meetings of the action plans.

If you have questions about the review, we are available at your convenience. Please remember that our biweekly Board meetings are open to the entire membership. Our next meeting is this Friday, 5 August at 1000 hrs via MSTeams. We will dedicate the first 30 minutes of Friday’s meeting to an open discussion of the financial review. As always, you can also reach us at mcdcboardofdirectors@gmail.com.

We look forward to hearing from you!

MCDC Board of Directors