FAC Explorer

Audit 14355

FY End
2021-06-30
Total Expended
$1.65M
Findings
2
Programs
4
Organization: Town of Princeville (NC)
Year: 2021 Accepted: 2024-01-30
Auditor: Anderson Smith & Wike PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
10680 2021-010 Material Weakness - L
587122 2021-010 Material Weakness - L

Programs

ALN Program Spent Major Findings
97.038 Disaster Grants - Public Assistance (presidentially Declared Disasters) $1.56M Yes 1
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $68,038 - 0
97.042 Emergency Management Performance Grants $16,408 - 0
21.027 Coronavirus State and Local Fiscal Recovery Funds $350 - 0

Contacts

Name Title Type
ZA31CEKFYXA1 Kay Haridson Auditee
2528231057 Shannon Dennison Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Town of Princeville has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the federal and State grant activity of Town of Princeville under the programs of the federal government and the State of North Carolina for the year ended June 30, 2021. The information in this SEFSA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of Town of Princeville, it is not intended to and does not present the financial position, changes in net assets or cash flows of Town of Princeville.
Title: Loan Balance Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Town of Princeville has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Town of Princeville had the following loan balance outstanding at June 30, 2021: Program Title Amount Outsanding NCCOR - State Revolving Loan 2,000,000

Finding Details

Finding 2021-010
U.S. Department of Homeland Security Program Name: Federal Emergency Management (FEMA) Public Assistance (PA) Assistance Listing #: 97.036 MATERIAL NON-COMPLIANCE AND MATERIAL WEAKNESS Reporting - Final Reporting Criteria: The Town is required to submit a final report within 90 days of approved period of performance. Condition: The Town did not submit timely final reports for the following projects:  Senior Center where the period of performance ended September 21, 2021 and the final report was not submitted until June 25, 2023.  Park and playground equipment where the period of performance ended February 1, 2022 and the final report was not submitted until April 6, 2023.  Drainage system where the period of performance ended June 1, 2021 and the final report was not submitted until March 3, 2022. Effect: The Town was not in compliance with FEMA grant guidelines. Delays in submitting reports beyond 1 year can cause FEMA to administratively close out grants with the information available leaving the Town at risk for not receiving all unsubmitted reimbursements. Cause: Insufficient monitoring and oversight of the financial activities. Identification of a Repeat Finding: This is not a repeat finding from the immediate previous audit. Questioned Cost: None due to the nature of the finding. Recommendation: The Town ensures all reporting is submitted on a timely basis. Management Response: The Council agrees with this finding.
Finding 2021-010
U.S. Department of Homeland Security Program Name: Federal Emergency Management (FEMA) Public Assistance (PA) Assistance Listing #: 97.036 MATERIAL NON-COMPLIANCE AND MATERIAL WEAKNESS Reporting - Final Reporting Criteria: The Town is required to submit a final report within 90 days of approved period of performance. Condition: The Town did not submit timely final reports for the following projects:  Senior Center where the period of performance ended September 21, 2021 and the final report was not submitted until June 25, 2023.  Park and playground equipment where the period of performance ended February 1, 2022 and the final report was not submitted until April 6, 2023.  Drainage system where the period of performance ended June 1, 2021 and the final report was not submitted until March 3, 2022. Effect: The Town was not in compliance with FEMA grant guidelines. Delays in submitting reports beyond 1 year can cause FEMA to administratively close out grants with the information available leaving the Town at risk for not receiving all unsubmitted reimbursements. Cause: Insufficient monitoring and oversight of the financial activities. Identification of a Repeat Finding: This is not a repeat finding from the immediate previous audit. Questioned Cost: None due to the nature of the finding. Recommendation: The Town ensures all reporting is submitted on a timely basis. Management Response: The Council agrees with this finding.