FAC Explorer

Audit 15051

FY End
2022-12-31
Total Expended
$2.00M
Findings
2
Programs
2
Organization: Bd Performing Arts (CA)
Year: 2022 Accepted: 2024-02-01
Auditor: Armanino

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
11257 2022-002 Significant Deficiency - B
587699 2022-002 Significant Deficiency - B

Programs

ALN Program Spent Major Findings
59.075 Shuttered Venue Operators Grant Program $1.28M Yes 1
59.008 Disaster Assistance Loans $722,510 Yes 0

Contacts

Name Title Type
LHTCS85CTTL5 Michael Stone Auditee
8184262052 Grant Lam Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of BD Performing Arts (the "Association") under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Association. Expenditures reported on the Schedule are reported on the 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 limited as to reimbursement. Passthrough entity identifying numbers are presented where available and applicable. De Minimis Rate Used: N Rate Explanation: The Association has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2022-002
Finding number: 2022-002 Assistance Listing number: 59.075 Assistance Listing title: Shuttered Venue Operators Grant Federal award identification number and year: SBAHQ21SV016541; 2022 Name of federal agency: U.S. Small Business Administration Name of pass-through entity: N/A Repeat finding: No Criteria: At closeout, grantees are required to provide a reconciliation of expenses by allowable budget category in response to the expense report action item. Grantees should also maintain justification for any changes from the final budget to the expense report and maintain clear records of the costs charged to the SVOG award substantiating eligibility and allowability. Condition: The Association did not maintain a timely reconciliation of expenses charged to the SVOG award. Upon the request of the audit team, the Association was able to provide an accounting of the costs charged to the SVOG award. Cause: The SVOG program is the Association’s first time administering a Federal award and the Association was not fully aware of the requirement to maintain a timely reconciliation of the costs charged to the SVOG award. Possible effect: A reconciliation of costs charged to the SVOG award was not timely available. Questioned cost: None Recommendation: We recommend that a timely reconciliation and accounting of all costs charged to a Federal award be maintained throughout the award period. Views of responsible officials: Management concurs with the finding and a reconciliation of costs charged to the SVOG award was provided to the auditors after requested. Management will implement procedures to ensure that a timely reconciliation of costs is maintained for costs charged to any future Federal awards.
Finding 2022-002
Finding number: 2022-002 Assistance Listing number: 59.075 Assistance Listing title: Shuttered Venue Operators Grant Federal award identification number and year: SBAHQ21SV016541; 2022 Name of federal agency: U.S. Small Business Administration Name of pass-through entity: N/A Repeat finding: No Criteria: At closeout, grantees are required to provide a reconciliation of expenses by allowable budget category in response to the expense report action item. Grantees should also maintain justification for any changes from the final budget to the expense report and maintain clear records of the costs charged to the SVOG award substantiating eligibility and allowability. Condition: The Association did not maintain a timely reconciliation of expenses charged to the SVOG award. Upon the request of the audit team, the Association was able to provide an accounting of the costs charged to the SVOG award. Cause: The SVOG program is the Association’s first time administering a Federal award and the Association was not fully aware of the requirement to maintain a timely reconciliation of the costs charged to the SVOG award. Possible effect: A reconciliation of costs charged to the SVOG award was not timely available. Questioned cost: None Recommendation: We recommend that a timely reconciliation and accounting of all costs charged to a Federal award be maintained throughout the award period. Views of responsible officials: Management concurs with the finding and a reconciliation of costs charged to the SVOG award was provided to the auditors after requested. Management will implement procedures to ensure that a timely reconciliation of costs is maintained for costs charged to any future Federal awards.