FAC Explorer

Audit 15360

FY End
2022-09-30
Total Expended
$1.48M
Findings
2
Programs
1
Organization: La Jolla Music Society (CA)
Year: 2022 Accepted: 2024-02-02
Auditor: Moss Adams LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
11520 2022-001 Significant Deficiency - L
587962 2022-001 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
59.075 Covid-19 Shuttered Venue Operators Grant Program $1.48M Yes 1

Contacts

Name Title Type
HZQ1CY91HL11 Karin Burns Auditee
8585263428 Laura Roos Auditor
No contacts on file

Notes to SEFA

Title: Note 1 – Basis of Presentation Accounting Policies: Note 2 – Summary of Significant Accounting Policies Expenditures reported in 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 are limited as to reimbursement. LJMS recognizes grants to the extent that eligible grant costs are incurred. De Minimis Rate Used: N Rate Explanation: Note 3 – Indirect Cost Rate LJMS has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal expenditure activity of La Jolla Music Society (LJMS), under programs of the federal government for the year ended September 30, 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). The Schedule presents only a selected portion of the operations of LJMS; therefore, it is not intended to, and does not, present the financial position, changes in net assets, functional expenses, or cash flows of LJMS.

Finding Details

Finding 2022-001
Finding 2022-001 – Reporting – Significant Deficiency in Internal Controls over Compliance (See Schedule of Findings and Questioned Costs for table). Criteria – 45 CFR 75.501 requires a non-Federal entity that expends $750,000 or more during the non_x0002_Federal entity’s fiscal year in Federal awards must have a single or program-specific audit conducted for that year. Audits must be completed and submitted within 30 days after receipt of the auditor’s report, or nine months after the end of the audit period, whichever is earlier. Condition – LJMS did not submit a single audit in a timely manner to be following the audit requirement under 45 CFR 75.501. Context – LJMS did not meet its reporting deadline. Questioned Costs – None. Cause – LJMS was unable to meet the deadline due to certain delays in gathering the necessary documentation to complete audit process. Effect – Audit was not performed and submitted in a timely manner. LJMS has not met the reporting requirements under 45 CFR 75.501. Repeat Finding – This is not a repeat finding. Recommendation – We recommend that LJMS obtain a single audit for each year that it meets the audit requirement of 45 CFR 75.501. Management’s Response – LJMS will obtain single audits each year that it meets the audit requirement of 45 CFR 75.501.
Finding 2022-001
Finding 2022-001 – Reporting – Significant Deficiency in Internal Controls over Compliance (See Schedule of Findings and Questioned Costs for table). Criteria – 45 CFR 75.501 requires a non-Federal entity that expends $750,000 or more during the non_x0002_Federal entity’s fiscal year in Federal awards must have a single or program-specific audit conducted for that year. Audits must be completed and submitted within 30 days after receipt of the auditor’s report, or nine months after the end of the audit period, whichever is earlier. Condition – LJMS did not submit a single audit in a timely manner to be following the audit requirement under 45 CFR 75.501. Context – LJMS did not meet its reporting deadline. Questioned Costs – None. Cause – LJMS was unable to meet the deadline due to certain delays in gathering the necessary documentation to complete audit process. Effect – Audit was not performed and submitted in a timely manner. LJMS has not met the reporting requirements under 45 CFR 75.501. Repeat Finding – This is not a repeat finding. Recommendation – We recommend that LJMS obtain a single audit for each year that it meets the audit requirement of 45 CFR 75.501. Management’s Response – LJMS will obtain single audits each year that it meets the audit requirement of 45 CFR 75.501.